Legal Issues and Risks in the Regulation of the Establishment of Danantara

CELIOS baru saja merilis Brief Analysis terkait berbagai persoalan hukum dalam regulasi Badan Pengelola Investasi (BPI) Danantara. Sebagai entitas super-holding baru yang dibentuk melalui UU No. 1 Tahun 2025 dan PP No. 10 Tahun 2025, kehadiran Danantara menimbulkan kekhawatiran soal potensi konflik kepentingan, lemahnya regulasi, serta minimnya mekanisme pengawasan.

Temuan CELIOS menyoroti sejumlah masalah krusial: rangkap jabatan menteri yang berpotensi melanggar UU Kementerian Negara, kerugian Danantara yang tidak dikategorikan sebagai keuangan negara sehingga membuka ruang moral hazard, hingga lemahnya akuntabilitas akibat status pejabat Danantara bukan lagi penyelenggara negara. Selain itu, komite pengawas bersifat opsional dan bisa dibubarkan presiden kapan saja, pejabat Danantara mendapat imunitas hukum, serta aset bank BUMN dikelola tanpa regulasi mitigasi risiko yang memadai—semua ini berpotensi menimbulkan risiko sistemik terhadap stabilitas keuangan nasional.

CELIOS has just released a brief analysis on the legal challenges surrounding the regulation of the Investment Management Agency (BPI) Danantara. As a newly established super-holding entity created under Law No. 1 of 2025 and Government Regulation No. 10 of 2025, Danantara raises concerns over potential conflicts of interest, weak regulatory safeguards, and the absence of strong oversight mechanisms.

CELIOS highlights several critical issues: ministers holding dual positions in violation of the State Ministry Law, Danantara’s financial losses excluded from state finances—creating a moral hazard risk, and the weakening of accountability as Danantara officials are no longer classified as state administrators. Moreover, the supervisory committee is optional and can be dissolved at any time by the president, while Danantara officials enjoy legal immunity. The management of state-owned bank assets without adequate risk mitigation regulations further increases systemic risks to national financial stability.

Narahubung / Contact Person :
Muhamad Saleh (+62 82133290067)

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