Corporate governance and corporate finance

OECD-Indonesia work on corporate governance


20 July 2017  Jakarta, Indonesia

SAVE THE DATE! The 2017 Experts Forum on Corporate Governance in Indonesia will take place in Jakarta on 20 July 2017. Discussions will focus on the role of institutional investors in corporate governance.


Launched in 2011, the Indonesia-OECD Corporate Governance Policy Dialogue supports policy makers by assessing key market practices and policy trends that may be detrimental to sound corporate governance. It also supports implementation by offering recommendations and policy options based on a comparative analysis. Furthermore, the programme facilitates closer engagement in the regular work of the OECD Corporate Governance Committee and continued involvement in the Asian Roundtable on Corporate Governance. The Financial Services Authority of Indonesia, the stock exchange and other relevant non-governmental organisations are partners to this dialogue.


Corporate Governance of Financial Groups

At the request of the Financial Services Authority of Indonesia, the Indonesia-OECD Policy Dialogue addressed the corporate governance of financial conglomerates. On 2 December 2015, policy makers, regulators and experts met in Jakarta to discuss the roles and responsibilities of corporate governance players in financial groups, the supervision and corporate governance of financial groups as well as the supervision and corporate governance of cross-sectoral conglomerates. Download the agenda and background report.

The meeting was followed by a launch event for the new G20/OECD Principles of Corporate Governance.


Rules on Backdoor Listings: a Global Survey

The second phase of the Indonesia-OECD Policy Dialogue focuses on the issue of transparent and fair rules governing market discipline, specifically back-door listings. A Technical Seminar on Backdoor Listings was held in December 2013 to discuss the challenges and different regulatory approaches to backdoor listings and subsequently a follow up Workshop on Transparency of Backdoor Listings was held on 30 October 2014. This report was used as a background document for the workshop in October. It provides a comparative study of regulatory responses to backdoor listings in other markets, and discusses whether there is a need to promulgate specific regulation for backdoor listings in Indonesia.


Disclosure of Beneficial Ownership and Control

The first phase of the Policy Dialogue concentrated on enhancing disclosure of beneficial ownership and control as part of overall efforts to improve corporate governance standards and practices in Indonesia. It facilitated a comparative analysis of how disclosure of beneficial ownership is handled by other jurisdictions; highlighted the costs, benefits and practicality of various approaches in the Indonesian context; suggested options to better identify ultimate beneficial ownership to enhance the securities regulator’s capacity to monitor related party transactions.


Board nomination and election

Indonesia is one of 4 jurisdictions who participated in an in-depth peer review published in November 2012 on Board Member Nomination and Election. The chapter on Indonesia describes the ownership structure of listed companies and then considers the board nomination and election processes, including disclosure practices and obligations.

Building on this peer review, the future work of the Policy Dialogue will focus on this issue.


OECD-Asian Corporate Governance Roundtable

Indonesia has participated in the OECD-Asian Corporate Governance Roundtable since 2004 and hosted the Roundtable's 2011 annual meeting.


Improving Corporate Governance in Indonesia - Policy Options and Regulatory Strategies for Tackling Backdoor Listings, 2016


Disclosure of Beneficial Ownership and Control in Indonesia, 2013


The Indonesia Corporate Governance Manual published by the IFC refers extensively to the OECD Principles of Corporate Governance and mentions OECD recommendations on disclosure of beneficial ownership.


Reform Priorities in Asia: Taking Corporate Governance to a Higher Level

Reform Priorities in Asia: Taking Corporate Governance to a Higher Level (pdf)


Brochure on corporate governance in Asia (pdf)



Fianna Jurdant, Senior Policy Manager, OECD Corporate Affairs Division (, +33 1 45 24 79 25).



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