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Indonesian Patriot Bond: Where Nationalism Meets Financial Obfuscation
What Actually Happened
| # | Claim | Date | Entities | Source |
|---|---|---|---|---|
| 1 | The Indonesian Patriot Bond is a financial instrument issued by Indonesia's sovereign wealth fund. | Indonesian Patriot Bond, sovereign wealth fund | Asia Times (archived) | |
| 2 | The bond carries a coupon rate of 2%. | Indonesian Patriot Bond | Asia Asset Management (archived) | |
| 3 | Funds used to purchase the bond cannot by law be used as evidence in criminal investigations. | Indonesian Patriot Bond | JatimTimes (archived) | |
| 4 | The bond is marketed with the implication that its legal protections are a key selling point. | Indonesian Patriot Bond | Cryptowave.co.id (archived) | |
| 5 | Over 3 billion US dollars have already been invested in the Patriot Bond. | Indonesian Patriot Bond | Energy News (OE Digital) (archived) | |
| 6 | The use of proceeds from the bond and the fund's financial reports have not been disclosed. | Indonesian Patriot Bond, sovereign wealth fund | CNBC Indonesia (archived) | |
| 7 | Finance Minister Purbaya Yudhi Sadewa publicly denied that the Patriot Bond and Merah Putih Bond scheme amounts to money laundering, comparing it to instruments used by other countries. | Indonesian Patriot Bond, Purbaya Yudhi Sadewa | Okezone Economy (archived) | |
| 8 | A civil society coalition, Danantara Monitor, formally asked the Financial Action Task Force (FATF) to review Indonesia's membership status, arguing that Article 50A of the amended P2SK Law breaches Indonesia's obligations as a full FATF member and weakens fund-source verification. | Indonesian Patriot Bond, Danantara Monitor, Financial Action Task Force | Validnews (archived) | |
| 9 | The Jakarta Post reported that Indonesia's financial intelligence unit, PPATK, is internally reviewing whether the legal-immunity provision could affect Indonesia's standing within FATF. | Indonesian Patriot Bond, PPATK, Financial Action Task Force | The Jakarta Post (archived) |