Jakarta. A top executive of Danantara has denied reports claiming that the newly established sovereign wealth fund enjoys complete legal immunity from prosecution.

Dony Oskaria, Danantara’s Chief Operating Officer, clarified on Thursday that some members of the public have misinterpreted the amended law on state-owned enterprises, incorrectly assuming that it grants Danantara exemption from legal liabilities.

“It’s important to provide a public clarification because Danantara has been widely perceived as untouchable, which is not the case,” Dony said during the BNI Investor Daily Roundtable in Jakarta.

Dony acknowledged that the law states Danantara’s commissioners and directors cannot be prosecuted if the fund incurs financial losses. However, he stressed that this exemption does not apply to cases of fraud or corruption involving its leadership.

“The law specifies that commissioners or directors cannot be prosecuted if they can prove the absence of conflicts of interest in their decision-making process,” Dony explained.

To ensure transparency, professionalism, and prudent financial management, Danantara is subject to multiple layers of oversight involving law enforcement agencies and public auditors, he added.

The fund itself will have an oversight committee, auditors, and an ethics council to maintain accountability.

According to Dony, Danantara’s oversight committee consists of high-ranking officials, including:

• The National Police Chief
• The Supreme Audit Agency (BPK) Head
• The Attorney General
• The Corruption Eradication Commission (KPK) Chairman
• The Head of the Financial Transaction Reports and Analysis Center (PPATK), Indonesia’s anti-money laundering agency

During the discussion, Dony reassured the public that Danantara operates under strict supervision and remains fully accountable under the law.