Patriot Bonds Lawsuit: What Does Purbaya Say About It?

9 hours ago 8

Minister of Finance Purbaya Yudhi Sadewa delivers a speech on the Bill on Accountability for the 2025 State Budget Implementation during the 23rd Plenary Session of the House of Representatives at the DPR Building, Jakarta, July 2, 2026. Tempo/Amston Probel

TEMPO.CO, Jakarta - Indonesia's Finance Minister Purbaya Yudhi Sadewa is preparing legal experts to respond the lawsuit filed against Patriot Bonds at the country's Constitutional Court (MK).

"I am sending qualified legal experts to ensure that our policies can be upheld and that we are accountable to the public under the law," Purbaya said when met at the Parliament Complex in Jakarta on Tuesday.

The minister said the government will honor the legal process and await the court decision on the matter. "We'll see what the outcome is," he added.

Previously, the Danantara Anti-Money Laundering Coalition filed a judicial review petition against Law Number 4 of 2026 concerning the Development and Strengthening of the Financial Sector (P2SK Law) with the Constitutional Court.

The Coalition feared that the provisions concerning Danantara's special bonds could potentially create legal immunity that weakens law enforcement, hamper tax oversight, and contradict the principles of the rule of law as guaranteed by the 1945 Constitution.

The petition, filed on Tuesday, challenges the constitutionality of Article 50A paragraph (5) and Article 50A paragraph (6) of the P2SK Law.

According to the petitioner, the two articles provide overly broad legal protection to purchasers of the bonds by exempting them from general criminal prosecution, special criminal prosecution, including tax crimes, and civil lawsuits.

They also restrict the use of transaction data as a basis for taxation or as evidence in court.

The applicants' attorney, Muhamad Saleh, stated that the petition does not challenge state investment instruments, but rather challenges norms that are deemed to provide preferential treatment to certain groups, thus contradicting the basic principles of the rule of law.

"Article 50A paragraphs (5) and (6) of the P2SK Law create a regime of impunity," he said. "Such norms not only hinder law enforcement but also contradict the principles of equality before the law, due process of law, and the rule of law as guaranteed by the 1945 Constitution."

Read: Special Protection for Patriot Bond Investors Challenged at Top Court

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