Finance Minister clarifies immunity for Patriot Bond buyers applies only to invested funds

Indonesian Finance Minister Purbaya Yudhi Sadewa has addressed public discussion surrounding the immunity from criminal prosecution granted to investors of Patriot Bonds and Merah Putih Bonds. He clarified that the guarantee specifically protects the funds used to purchase these instruments, not other business activities of the investors.

"The correct translation is that the money used to buy Patriot Bonds will not be touched, regardless of its source. But if they (the buyers) have other businesses, then they can still be pursued (by law enforcement)," Sadewa explained in Tanjung Priok, Jakarta Utara, on Tuesday, June 23, 2026. He emphasized that other assets belonging to the buyers do not automatically gain legal immunity.

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The correct translation is that the money used to buy Patriot Bonds will not be touched, regardless of its source. But if they (the buyers) have other businesses, then they can still be pursued (by law enforcement).

This policy, enshrined in Article 50A, Paragraph 5 of Law Number 4 of 2026, which revises the Law on Financial Sector Development and Strengthening (P2SK), is intended to stimulate the flow of funds into Indonesia's domestic financial system. "In simple terms, the money enters our economy. We can use it for development," Sadewa stated.

Sadewa drew a distinction between this bond protection and the broader tax amnesty program. While tax amnesty offers relief through the waiver of administrative and criminal sanctions, and potentially the principal tax debt on disclosed assets, the bond policy specifically safeguards the capital invested in these designated debt instruments. The protection applies to transactions in the primary market and covers investors who have participated in tax amnesty or voluntary disclosure programs.

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In simple terms, the money enters our economy. We can use it for development.