The Indonesia Investment Authority (INA) has been accepted as a full member of The International Forum of Sovereign Wealth Funds (IFSWF), a global network of Sovereign Wealth Funds (SWF) or investment management institutions, with members from more than 40 countries. Chairman of the Board of Directors of INA Ridha Wirakusumah in an official statement received in Jakarta, Monday, said that his party was honored to be accepted as a full member of IFSWF. INA is committed to upholding the standards of governance and prudent global investment practices set out in the Santiago Principles. “This is in line with our mission to optimize investments that bring value and maximize economic impact to grow wealth and sustainable development for Indonesia,” said Ridha. INA has been an associate member of IFSWF since May 2021. By becoming a full member of IFSWF, INA voluntarily agrees to uphold the Santiago Principles which are internationally accepted principles and practices for governance, investment, and risk management of sovereign wealth funds. By applying these principles, IFSWF members demonstrate their commitment to professional, independent, and commercially oriented investment management to fulfill the mandates set by their owners.
In addition, IFSWF also accepts Armenian National Interests Fund (ANIF), Malta Government Investments (MGI), and Mauritius Investment Corporation (MIC) as associate members. Meanwhile, the Acting Chairperson of IFSWF Obaid Amrane said IFSWF is happy to accept INA as a full member and welcomes ANIF, MGI, and MIC as associate members. "It is encouraging that so many new SWFs have voluntarily agreed to apply the Santiago Principles because by doing so, they are helping to strengthen SWF governance practices around the world. IFSWF seeks to continue to support them in their progress towards full membership," said Obaid.
