Indonesia Wealth Fund Boards Get $5 Million as Funds Stay Idle
- INA’s 15 trillion rupiah was parked in savings accounts
- Wealth fund is key part of Jokowi’s push for more investments
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The board members of Indonesia’s new wealth fund are set to be paid more than $5 million while leaving the fund’s assets idling in deposit accounts for the first six months of the year.
The salary for its supervisory board and board of directors were set at 72.8 billion rupiah ($5.1 million) in the period, including 55.7 billion rupiah accrued and set aside but not yet paid, according to its financial statement. Meanwhile, the fund’s 15 trillion rupiah of assets remained in savings accounts at PT Bank Rakyat Indonesia and PT Bank Mandiri to earn 142.9 billion rupiah in interest.