Indonesia's financial service regulator, OJK, said on Friday (29/12) it has revised regulations on municipal bonds to encourage provincial governments to issue them to finance their infrastructure projects.(Antara Photo/Septianda Perdana)

Jokowi Recommends Familar Names for OJK Posts


MARCH 29, 2017

Jakarta. President Joko "Jokowi" Widodo selected senior banker Sigit Pramono and chairman of state-owned lender Bank Mandiri, Wimboh Santoso, as candidates to chair the Financial Services Authority, or OJK, board of commissioners for the 2017-22 term.

The president submitted names of 14 candidates – all of whom are competing for the remaining seven OJK commissioner seats  to the House of Representatives last week, according to a letter Jokowi sent to the legislative body on March 22. The president selected the names out of an initial pool of 21 recommended by a selection team led by Finance Minister Sri Mulyani Indrawati.

Sigit, 58, previously served as the managing director of Bank International Indonesia before taking the reins of state-controlled Bank Negara Indonesia. He was previously the chairman of the Indonesian Banking Association (Perbanas).

Wimboh, 59, spent most of his career at Bank Indonesia (BI), the country's central bank. He previously served as the director of regulation at BI and as its representative in New York.

Wimboh also served as the executive director of the International Monetary Fund (IMF) in 2012-15.

Agus Santoso, a former executive at the Transaction Reports and Analysis Center (PPATK), and Riswinandi, president director of state-owned pawnshop firm Pegadaian, will compete for the vice chair of the OJK board of commissioners.

Heru Kristiyana, OJK's current deputy commissioner of banking supervision, will be pitted against Agusman, director of macroprudential policy at BI, for OJK's chief commissioner of banking supervision.

Nurhaida, the current capital market supervisor of OJK, will defend her role against Arif Baharudin, a former director general at the Ministry of Finance.

The supervisory role for insurance, pension funds, financing institutions and other financial services institutions is up for grabs between Edy Setiadi, current OJK deputy commissioner, and Hoesen, a former director at the Indonesia Stock Exchange.

Haryono Umar, former chairman of the Corruption Eradication Commission (KPK), and former BI executive Ahmad Hidayat will compete for the commissioner post in charge of audits.

The education and consumer protection commissioner seat will be fought for between BI spokesman Tirta Segara and University of Indonesia economy professor Firmanzah.

Nominees for two of the nine commissioner seats will be selected by the ministry and BI, while the remaining seven will be chosen by the House of Representatives.