Academia
Wisma Danantara Indonesia stands out on Jl. Jenderal Sudirman, Central Jakarta, on July 8, 2025. (Antara/Hafidz Mubarak A)
President Prabowo Subianto is once again reshaping Indonesia's economic institutions. This time, he has instructed the Financial System Stability Committee (KSSK) to involve the Danantara sovereign wealth fund in its deliberations, creating what Danantara CEO Rosan Roeslani calls "KSSK Plus." But when a state investor joins discussions where its own risks may be assessed, the question is whether the arrangement strengthens policy coordination or weakens institutional independence.After Prabowo summoned the four KSSK members and Danantara CEO Rosan Roeslani to the State Palace on Monday evening, Finance Minister and KSSK chair Purbaya Yudhi Sadewa offered several important clarifications. First, Danantara will participate only as an invitee without voting rights while decision-making authority would remain with the Finance Ministry, Bank Indonesia (BI), the Financial Services Authority (OJK) and the Deposit Insurance Corporation (LPS).
Second, Purbaya said the 2023 Financial Sector Development and Strengthening (P2SK) Law allows the KSSK to invite outside parties without making them formal members. Third, he argued that Danantara could provide regulators with direct insights into large-scale business operations. Finally, he said Danantara representatives would be asked to leave the room whenever the committee deliberated matters with direct business implications, a safeguard intended to prevent conflicts of interest as its participation becomes routine.
