Bloomberg News

Bank Indonesia’s Hadad Nominated as Head of Financial Body

April 09, 2012

Bank Indonesia Deputy Governor Muliaman Hadad and Achjar Iljas, who held a similar position a decade ago, are named among candidates to lead the Financial Services Authority, said a lawmaker who will help select them.

The two are among the 14 names submitted by President Susilo Bambang Yudhoyono, who nominated two candidates for each of the seven key positions at the new financial regulator, Emir Moeis, chairman of the parliament’s commission XI, which oversees financial affairs, said by telephone today. Lawmakers will assess them and decide on the seven positions, Moeis said.

Rahmat Waluyanto, director general at the finance ministry’s debt management unit, Nurhaida, head of the capital market supervisory agency, Firdaus Djaelani, chief executive officer at the Indonesian deposit insurance agency, and Riswinandi, vice president director at PT Bank Mandiri, are also among the candidates, Moeis said.

The new regulator, known in the Indonesian language as Otoritas Jasa Keuangan or OJK, will start to supervise capital markets, pension funds, finance company and all non-bank institutions in early 2013 and start to manage banking industries in early 2014.

Iljas was former deputy governor of the central bank from 1998 to 2002. Bank Indonesia has several deputy governors.

To contact the reporters on this story: Novrida Manurung in Jakarta at nmanurung@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net


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