The OJK has nine commissioners, seven of whom will be selected from the 14 candidates, while the two others are representatives of Bank Indonesia and the Finance Ministry.

Each of seven posts on the OJK’s board of commissioners was filled by two names as stated in a presidential letter signed by Jokowi that was circulated on Wednesday.

(Read also: Selection team defends decision to cull financial authority incumbents)

Competing for the top position of chairperson are former chairman of the Federation of Private Domestic Banks (Perbanas) Sigit Pramono and Bank Mandiri president commissioner Wimboh Santoso.

Meanwhile, Bank Indonesia’s Employee Association (IPEBI) chairman Agus Santoso and state-owned pawnshop Pegadaian president director Riswinandi are competing for the deputy chair position.

The 14 candidates, who are mostly government bureaucrats, were shortlisted from 21 candidates previously announced by a government-appointed committee chaired by Finance Minister Sri Mulyani Indrawati.

The House of Representative’s Commission XI, which supervises fiscal policy and the financial sector, is scheduled to conduct hearings to pick seven OJK commissioners, which are expected to wrap up on June 6.

The Supreme Court is expected to swear in appointees approved by the House on July 20. (bbn)

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