DEN Affirms Family Office Is Still In Planning, There Is No Budget Needs Yet

Deputy Chairman of the DEN Mari Elka Pangestu (between)

JAKARTA - The National Economic Council (DEN) has opened its voice regarding the statement by the Minister of Finance, Purbaya Yudhi Sadive, regarding the plan to reject the use of the State Revenue and Expenditure Budget (APBN) to fund the formation of Wealth Management Consulting (WMC) or family office in Bali.

Deputy Chairman of the DEN, Mari Elka Pangestu, explained that the discourse on forming a family office in Indonesia is currently still in its early stages, namely discussion and planning, so there is no final decision, including the source of funding.

"This is currently under discussion. So it has not yet reached one, only in the form of discussion, planning, and proposals, and has nothing to do with the budget," he said after the 1st Anniversary of the Prabowo-Gibran Government, Thursday, October 16.

He emphasized that in the planning stage as it is today, there is no concrete budget requirement.

Regarding the target of DEN Chairman Luhut Binsar Pandjaitan who wants family office to be realized this year, Mari Elka said it really depends on the preparation of regulations that are currently being discussed by various parties.

"It depends on the regulations. This is something that will require regulations. It will require new regulations that are being discussed, planned and there are legal aspects that need to be specially improved so that the family office can run. So, we'll just have to wait, yes, this is still in the discussion process," he continued.

He added that the establishment of a family office in Indonesia requires a new legal basis and policy so that it can run according to the rules.

"Family Office has been discussed for a long time, it has been discussed for a long time. It is still under discussion and what form of policy is appropriate for it to be carried out," he said.