February 11, 2026 | 04:24 pm
TEMPO.CO, Jakarta - A working visit by the House of Representatives' (DPR) commission overseeing finance and banking to the West Java office of the Financial Services Authority (OJK) on Friday afternoon, January 30, 2026, received a notably muted reception from the "headquarters." Apart from officials at the regional office, no member of OJK's Board of Commissioners was present. That morning, by contrast, when the same House commission visited Bank Indonesia's West Java representative office, they were welcomed by BI Deputy Governor Filianingsih Hendarta.
At BI's Bandung office, located just 4 kilometers from OJK's West Java branch, House members discussed food inflation rate, which reached 6.2 percent last year. "Our hope for 2026 is that volatile food inflation can remain in the range of 3 to 5 percent," Mohammad Hekal, Deputy Chair of the House Commission on Finance, said in a written statement. However, there were no details on what lawmakers discussed with OJK's West Java representatives.
At the time, members of OJK's Board of Commissioners had been summoned by House Deputy Speaker Sufmi Dasco Ahmad. Also present at the meeting was Mukhamad Misbakhun, Chair of Commission XL They discussed the turmoil at the Indonesia Stock Exchange (IDX) following the release of a report by Morgan Stanley Capital International (MSCI). MSCI detailed a series of problems in Indonesia's capital market, culminating in what amounted to a "threat" to downgrade the country from emerging-market to frontier-market status, effectively labeling it less suitable for investment. Following the report, the Jakarta Composite Index (JCI) plunged. Investors grew uneasy.
Dasco's meeting with OJK officials came after IDX Chief Executive Officer (CEO) Iman Rachman stepped down from his post. Inarno Djajadi, OJK's Chief Executive for Capital Market, Derivatives, and Carbon Exchange Supervision, said Iman's resignation would not disrupt trading or market operations. "The OJK will take a leading role in the reform process of Indonesia's capital market by ensuring improvements in governance and strengthening law enforcement," Inarno said on January 30, 2026.
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