JAKARTA - President of the Republic of Indonesia Prabowo Subianto officially appointed Finance Minister Sri Mulyani Indrawati as Chair of the Selection Committee (Pansel) for the Deputy Chairperson of the Board of Commissioners of the Deposit Insurance Corporation (LPS) for the period 2025-2030.
To note, the position of Deputy Chairman of the Board of Commissioners of the Deposit Insurance Corporation (LPS) has been vacant since Lana Soelistianingsih's term ended on February 13, 2025.
The appointment of the Pansel is based on Presidential Regulation (Perpres) Number 3 of 2025 concerning the Membership Composition of the Selection Committee and Procedures for the Implementation of Selection of Members of the LPS Board of Commissioners, as well as Presidential Decree (Keppres) Number 42/P of 2025 dated 17 April 2025 concerning the establishment of a Selection Committee for Candidates for Members of the Board of Commissioners of the Depository Institute for Deposit Insurance or ADK LPS.
These two policies are a follow-up to the mandate of Law (UU) Number 24 of 2004 concerning LPS, which has been amended last through Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK). This law regulates that the selection of LPS ADK is carried out through a selection committee formed by the President.
The following is the composition of the Selection Committee which was formed consisting of:
- Chairman concurrently member: Sri Mulyani Indrawati (Minister of Finance)
- Member: Thomas Djiwandono (Deputy Minister of Finance), Aida S. Budiman (Deputy Governor of Bank Indonesia), Dian Ediana Rae (Executive Head of OJK Banking Supervisory), Fauzi Ichsan (Professional Representative or Banking Community), and Rizal Bambang Prasetijo (Professional Representative or from Insurance Industry).
Sri Mulyani said that the selection committee had a number of tasks, including compiling and setting a schedule and selection mechanism, announcing the acceptance of candidates, conducting administrative selection and a fit and proper test of conducting assessments and selection of LPS ADK candidates.
Then, convey at least three names of LPS ADK candidates to the President for each position needed.
"In the process of this pandemic, we will convey to the President three candidates for the position of Deputy Chairman of the LPS Board of Commissioners, who is currently in the selection process. The selection committee will also submit a report regarding the implementation of the duties to the President, and carry out other tasks in order to organize the selection of candidates for ADK LPS," he said at a press conference, Monday, April 28.
Furthermore, the President then chose and forwarded at least two names to the House of Representatives (DPR), which will conduct a fit and proper test before the results are finally returned to the President to be determined.
"The selection committee will then convey the names of three candidates for each position to the President. Then the President chooses and forwards at least two names for each position to the House of Representatives within a maximum of 10 working days, starting from the receipt of the name of the LPS ADK candidate from the selection committee," he explained.
"The People's Representative Council of the Republic of Indonesia will then re-launch the fit and proper test process for the candidates submitted by the President. And the results of the DPR's fit and proper test process are then submitted to the President to be determined," he added.
Sri Mulyani said that in the selection process, the Deputy Chairperson of the LPS Board of Commissioners will last for a maximum of 20 working days from the date of the formation of the Pansel, namely April 17, 2025.
Adapun, pendaftaran dibuka secara daring mulai dari 29 April hingga 6 Mei 2025 melalui laman resmi https://seleksi-dklps.kemenkeu.go.id.
"We officially announce the opening of the selection process to fill the position of one deputy chairman of the Board of Commissioners of the Deposit Insurance Corporation and concurrently a member of the Board of Commissioners of the Deposit Insurance Corporation for a term of five years, 2025 to 2030," he said.
Sri Mulyani said that the selection was carried out in two stages, namely administrative selection and fit and proper selection.
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The requirements for prospective participants include:
1. Indonesian citizens;
2. Have good moral, moral, and integrity;
3. Kakap commits legal acts;
4. It was never declared bankrupt or a company management that caused the company to go bankrupt;
5. Physical health;
6. A maximum age of 65 years at the time of stipulation;
7. Experienced or has expertise in the financial services sector;
8. Never sentenced to prison with a penalty of five years or more;
9. Not as consultants, employees, administrators, bank owners or insurance companies directly or indirectly;
10. Not administrators or members of political parties during nominations;
11. Not declared a despicable individual in the banking sector or financial services based on the provisions of the legislation.
Sri Mulyani said that the Government hopes that this process can attract the best candidates who are able to carry out a big responsibility in maintaining the stability of the national financial system through the LPS.
"We hope that we will get the best candidates who can fulfill the extraordinary important duties and responsibilities of the LPS, namely managing the savings guarantee program both in banks and in the insurance sector," he concluded.
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