Economist Urges BI to Toughen Sanctions on Resource Export Proceeds

RRI.CO.ID, Jakarta – Bank Indonesia (BI) is facing calls to impose stricter penalties on companies failing to comply with the mandatory domestic placement of export proceeds from natural resources (DHE SDA).

Economist and founder of the 98 Resolution Network, Salamuddin Daeng, said the government and BI should jointly conduct direct supervision of the finances of natural resource exporters and impose immediate sanctions if violations are found in the placement of DHE SDA.

“These joint measures are a constitutional mandate, specifically Article 33 of the 1945 Constitution, which must be implemented by the government and Bank Indonesia to achieve the goals of the nation and state,” Salamuddin said in Jakarta on Sunday, February 1, 2026, as quoted by Antara.

The DHE SDA policy is regulated under Government Regulation (PP) No. 8/2025, which amends PP No. 36/2023 on export proceeds from the exploitation, management, and processing of natural resources.

The regulation requires companies to place 100 percent of their DHE SDA in the domestic banking system for one year, primarily at state-owned banks grouped under Himpunan Bank Milik Negara (Himbara), and applies to export activities starting January 1, 2026.

The placement of DHE SDA may be carried out through special DHE SDA accounts at the Indonesia Eximbank (LPEI) or foreign exchange banks, banking instruments, financial instruments issued by LPEI, or instruments issued by Bank Indonesia.

Salamuddin said restricting the outflow of DHE SDA should have a positive impact on strengthening the rupiah. However, he noted that the currency has continued to weaken against foreign currencies, particularly the US dollar.

He added that if the DHE SDA control policy were implemented consistently, the rupiah could be more resilient in facing pressure from global currency competition.

“However, we assess that since the issuance of Government Regulation No. 8/2025 on DHE SDA, Indonesia’s foreign exchange reserves have not increased significantly. Throughout 2025, foreign exchange reserves only rose by USD 386 million,” he said.

Salamuddin also called on BI to improve the implementation of Bank Indonesia Regulation (PBI) No. 3/2025, which amends PBI No. 7/2023 on export proceeds and import payment foreign exchange, as an adjustment to PP No. 8/2025.

He said the implementing rules under the regulation have not been accompanied by firm sanctions against corporations that commit violations, making regulatory alignment necessary to effectively penalize non-compliant exporters.

Salamuddin emphasized that BI plays a vital role, as foreign exchange control policy under Law No. 24/1999 on Foreign Exchange Traffic and the Exchange Rate System falls fully under Bank Indonesia’s authority. ***