Business · Companies · 11 hrs ago
Indonesia Finance Ministry Will Not Take a Stake in Stock Exchange
Indonesia’s Finance Ministry will not buy shares in the Indonesia Stock Exchange as the exchange changes its ownership structure.
Finance Minister Suahasil Nazara says the ministry makes policy, while the exchange operates the market commercially.
The exchange’s chief says government ownership is optional under the law, which allows the ministry and other institutions to become shareholders but does not require them to.
The change, called demutualization, would move the exchange from ownership by its members to a more open company structure.
The ministry says its policy role should remain separate from the exchange’s commercial operations.
It supports the market reforms being carried out by the exchange and Indonesia’s Financial Services Authority, and says it will monitor progress and coordinate on targets.
The law also allows Bank Indonesia and the Danantara investment agency to hold shares.
Indonesia’s Finance Ministry will not take a stake in the Indonesia Stock Exchange during its demutualisation.
Finance Minister Suahasil Nazara said the ministry’s role is to make policy, while the exchange operates in the commercial sphere.
Suahasil said the ministry supports capital-market reforms led by the Financial Services Authority and the exchange.
Exchange chief executive Jeffrey Hendrik said government agencies are allowed, but not required, to become shareholders.
Rules allow the Finance Ministry, Bank Indonesia and the Danantara investment agency to hold shares in the exchange.
- Who
- Indonesia’s Finance Ministry and the Indonesia Stock Exchange. Finance Minister Suahasil Nazara announced the ministry’s position, and exchange chief executive Jeffrey Hendrik responded.
- What
- The ministry will not become a shareholder in the exchange as it is demutualised.
- When
- Suahasil stated the decision on November 3, 2026. The exchange responded on November 5 and 6.
- Where
- Jakarta, Indonesia.
- Why
- Suahasil said the ministry makes policy, while the exchange is an operator in the commercial sphere.
This story does not have two clearly opposing sides.
Financial Services Authority Regulation No. 13 of 2026 on stock-exchange shareholders came into force.
Suahasil Nazara said the Finance Ministry would not become a shareholder, citing its policy-making role.
Jeffrey Hendrik said government agencies were not required to hold shares in the exchange.
CNBC Indonesia reported Hendrik’s response and the ministry’s support for market reforms.
- Finance Minister
- Suahasil Nazara
- Exchange chief executive
- Jeffrey Hendrik
- Government agencies permitted to hold shares
- Finance Ministry, Bank Indonesia and Danantara
- Regulation
- Financial Services Authority Regulation No. 13 of 2026
- Regulation effective date
- September 17, 2026
3 sources
What people are saying
I want to emphasize here that the Finance Ministry will not become a shareholder in the Indonesia Stock Exchange. Why? Because the Finance Ministry is a policy maker. We are the decision-makers, and the exchange is in the operator or commercial sphere.
We affirm that the Finance Ministry supports capital-market reform by the Financial Services Authority and the Indonesia Stock Exchange. We will monitor and coordinate the achievement of the action-plan targets.
That means there is no obligation. So, of course, each institution can decide whether it wants to become a shareholder or not.