Bloomberg News

Indonesia Financial Regulator Decided by Oct. 25, Lawmaker Says

October 05, 2011

Oct. 5 (Bloomberg) -- Indonesian lawmakers may decide the composition of a planned financial regulator by Oct. 25, Nusron Wahid, chairman of the parliament’s Financial Services Authority working committee, said by phone today.

“The composition of the commissioners is still dynamic, we’ll make sure to decide it not later than Oct. 25,” he said.

Lawmakers and the government failed to decide the composition in July and extended a deadline for parliament and government to choose the board of commissioners.

Indonesia’s parliament wants two of its members on the financial supervisory authority’s board, alongside five government nominees proposed by the president and two former officials from the finance ministry and the central bank. The government’s proposal is two former finance ministry and central bank members and seven presidential picks vetted by parliament.

--Editor: Greg Ahlstrand

To contact the reporters on this story: Novrida Manurung in Jakarta at

To contact the editor responsible for this story: Stephanie Phang at

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