Coordinating Minister for Economic Affairs Airlangga: Mr. Prabowo ordered to accelerate capital market reform to increase the minimum free float of shares to 15 percent

JAKARTA - Coordinating Minister for the Economy Airlangga Hartarto said President Prabowo Subianto asked the relevant Self-Regulatory Organization (SRO) to ensure the maintenance of capital market operations in the midst of policy and leadership transitions.

The Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) as related SROs are currently working to strengthen the transparency, integrity, and organization of the Indonesian capital market through a number of policy changes, such as increasing the free float limit and demutualization of the exchange.

"Mr. President (Prabowo Subianto) ordered the acceleration of market integrity reform, including through structural capital market reform through demutualization of the exchange and increasing liquidity through increasing the minimum free float to 15 percent in accordance with global standards," said Airlangga Hartarto as reported by ANTARA, Saturday, January 31.

He said that the increase in free float would increase the number of shares released to the public, so that the exchange would be more transparent, liquid, and integrated.

Increased transparency is also implemented through the tightening of beneficial ownership rules in a transparent manner as well as clarity regarding shareholder affiliation.

"This structural evolution includes accelerating demutualization to be in line with international modern exchanges," said Airlangga.

Meanwhile, regarding the leadership transition in both SROs, Coordinating Minister Airlangga revealed that President Prabowo Subianto had also instructed the Ministry of Finance as well as the OJK and BEI management to ensure that the exchange's operational activities continued to run normally.

On Friday, January 30, 2026, the President Director of the IDX, Iman Rachman, the Chairman of the OJK Commissioner Board, Mahendra Siregar, and the Head of Capital Market, Derivatives Finance, and Carbon Exchange Supervisory Executive, OJK Inarno Djajadi, submitted their resignations from their respective positions.

Deputy Chairman of the OJK Commission Board Mirza Adityaswara and Deputy Commissioner for Issuers, Securities Transactions, Special Examinations, Derivatives Finance, and OJK Carbon Exchange I.B. Aditya Jayaantara also resigned on the same day.

Despite the departure of a number of SRO officials, the government ensured that there was no leadership vacuum in the supervision of the financial services sector, including the capital market.

"The acting officer (Plt.) or Pjs (temporary officer) will ensure that all regulatory functions, trading activities, and supervisory duties run without interruption. Our institutions are strong because the system is managed according to good governance standards and best practices," said Airlangga.

On Saturday afternoon, OJK appointed the Head of the Executive of the Financial Services, Education and Consumer Protection Conduct Supervisory Authority of OJK, Friderica Widyasari Dewi, as a Member of the Board of Commissioners to replace the Chairman and Vice Chairman of the Board of Commissioners of OJK.

Meanwhile, the Chief Executive of the Financial Sector Innovation Technology Supervisory Authority, Digital Financial Assets and Crypto Assets, OJK Hasan Fawzi was appointed as a Member of the Board of Commissioners to replace the Chief Executive of the Capital Market, Derivatives Finance and Carbon Exchange Supervisory Authority.

Meanwhile, the IDX has not announced their replacement for the President Director. IDX Corporate Secretary Kautsar Primadi Nurahmad stated that his party would announce the Interim Officer (Pjs) President Director (Dirut) before the opening hours of the Bursa trading on Monday, February 2, 2026.