Jakarta. Sovereign wealth fund Danantara has denied reports that rich Indonesians with savings of over Rp 3 billion ($166,242) are required to purchase Patriot Bonds and Merah Putih Bonds.

“That’s not true. There is no such plan,” Danantara chief operating officer Dony Oskaria was quoted as saying by state news agency Antara.

Dony said that both bonds were designed to attract those who are interested in financing national development. According to Dony, the government and Danantara are committed to implementing all investment policies in accordance with “transparency, good governance, and respecting the public right to make investment decisions”.

Indonesia’s parliament recently passed a sweeping law that would allow Danantara to issue special debt instruments, including Patriot Bonds and Merah Putih Bonds.

The fund had launched its inaugural Patriot Bond offering in late 2025, raising about $3.6 billion, exceeding its initial target of $3.1 billion, according to Bloomberg. The bonds, which carried five- and seven-year maturities with coupons of around 2%, were priced well below the yields offered by comparable Indonesian government securities.

Finance Minister Purbaya Yudhi also denied the reports, but signaled that there would be “incentives to make the instrument attractive to people with money”.

He also restated that President Prabowo Subianto had never proposed making those bond purchases mandatory.