JawaPos.com — President-elect Prabowo Subianto’s proposed plan to replace all directors of state-owned enterprise (BUMN) banks, commonly known as Himbara banks, is raising concerns as it could potentially exacerbate instability in Indonesia’s already fragile stock market. According to Bhima, the comprehensive overhaul of Himbara bank directorates appears to be an excessive intervention into corporate governance, which ideally should operate professionally and independently. He further elaborated, “This is highly non-urgent as it seems to interfere with Danantara as the controlling shareholder of BUMN banks. He asserted, “The shock to the stock market could worsen because most Himbara banks are listed on the exchange. He elaborated, “If BUMN banks are forced to channel high-risk program loans like MBG or kopdes, Himbara bank directors could face criminal sanctions.

Source: Jawa Pos February 01, 2026 10:18 UTC