Kuya Food Express, JAKARTA – Minister of Finance Purbaya Yudhi Sadewa has expressed considerable surprise regarding the stagnant share performance of state-owned banks, collectively known as Himbara, particularly ahead of the impending implementation of new regulations for Natural Resources Export Proceeds (DHE SDA). Despite the market’s current indifference, Purbaya remains convinced that this pivotal policy will significantly bolster the dollar liquidity of these key state-backed financial institutions.
“I genuinely don’t understand why Himbara banks’ shares haven’t risen yet. If I were permitted to invest in the stock market, I would have already purchased them when their prices dipped recently,” Purbaya remarked after the launch of the one-door export policy at the Danantara Office on Sunday, May 31, 2026. His statement came in response to inquiries about the share correction observed in several non-Himbara banks following the government’s mandate for DHE SDA to be channeled through state-owned banks.
According to Purbaya, the market has not yet fully grasped the profoundly positive impact this policy will have on the liquidity of Himbara, or state-owned, banks. He clarified that export proceeds, which have traditionally been largely held offshore, are now poised to re-enter the domestic financial system, fundamentally reshaping the financial landscape.
Consequently, Himbara banks are expected to accumulate substantially larger reserves of dollars and cash than ever before. “They will possess abundant dollars and considerable cash. In the financial market, the adage ‘cash is king’ sometimes holds true. Therefore, you can anticipate the significant effects this will have on Himbara banks,” he elaborated, underscoring the strategic advantage this new influx of capital provides.
Purbaya further asserted that this enhanced liquidity will not only fortify Himbara’s standing but also strengthen the national financial sector as a whole. Funds previously flowing out of the country will now be readily available domestically, providing crucial support for economic financing and fostering greater stability. “Our financial sector will become considerably stronger because, previously, a significant portion of the money went abroad; now, that money will reside here,” he emphasized, highlighting the strategic shift in capital allocation. He firmly believes the policy’s benefits will cascade throughout the broader financial ecosystem. “This will have an overwhelmingly positive impact on Himbara banks and their liquidity, which I am confident will ripple across our entire financial sector,” Purbaya stated.
Beyond strengthening banking liquidity, Purbaya views the one-door export policy as a catalyst for improved corporate governance and increased benefits for investors. He contends that more stringent oversight will effectively curb practices that could erode the profitability of publicly traded companies, thereby fostering a more transparent and trustworthy investment environment.
To ensure robust compliance, the government will leverage a transitional period before full implementation. Following this, PT Danantara Sumber Daya Indonesia (DSI) is slated to assume a central role in the export mechanism, streamlining oversight and enhancing accountability. “After six months, it will likely be fully implemented, with DSI handling the exports. It’s straightforward because they are the sellers; if any irregularities occur, we know precisely whom to pursue,” Purbaya noted with confidence.
As widely known, the government is progressively rolling out the one-door export policy for key commodities including coal, palm oil, and ferroalloy. Concurrently, non-oil and gas exporters are mandated to deposit 100% of their Natural Resources Export Proceeds into special domestic accounts for a minimum duration of 12 months, exclusively through Himbara banks.
Summary
Minister of Finance Purbaya Yudhi Sadewa expressed confusion over the stagnant share prices of state-owned banks (Himbara), despite the upcoming implementation of the Natural Resources Export Proceeds (DHE SDA) policy. Purbaya believes the market underestimates the positive impact of this regulation, which requires exporters to deposit proceeds into domestic state-owned banks. He argues that this shift will significantly boost dollar liquidity and cash reserves within these financial institutions.
The government’s one-door export policy aims to retain funds domestically that previously flowed offshore, thereby strengthening the national financial sector and improving corporate governance. To ensure compliance, PT Danantara Sumber Daya Indonesia (DSI) will oversee the mechanism after a six-month transition period. Purbaya remains confident that this policy will fundamentally reshape the financial landscape and benefit both Himbara banks and the broader economy.