Coordinating Minister for Economic Affairs Airlangga Hartarto has\nassured that the Indonesian International Financial Centre (PFII) will\nnot be used to harbour \u2018illicit funds\u2019 from abroad. He emphasised that\nthe government will implement strict supervision to prevent dirty money\nfrom being stored in the PFII. He stated that the Know Your Customer\n(KYC) system will be the primary guide for the PFII in accepting\ninvestors, adhering to international anti-money laundering conventions.\n\u201cIn global finance, KYC, Know Your Customer, is crucial. So, various\ncountries, including Indonesia, have conventions regarding anti-money\nlaundering. That will certainly be protected against. So, this is not\nfor illicit funds,\u201d Airlangga said at the Presidential Palace Complex in\nJakarta.<\/p>\n
In a separate statement, Finance Minister Purbaya expressed\nconfidence that the PFII could attract substantial funds from overseas,\nincluding the repatriation of assets held by Indonesian citizens abroad.\nHowever, he admitted that he did not have precise data on the potential\nscale of such repatriation. \u201cIf I knew how much, that means it\u2019s not\ndark money. So, it cannot be calculated,\u201d Purbaya explained at the\nMinistry of Finance office in Jakarta. Despite this, he believes the\npotential is significant. Purbaya tempered expectations by stating that\nthe primary goal is not necessarily the immediate return of these\nassets, but rather to attract foreign capital inflows, especially from\nMiddle Eastern countries. \u201cLike from the Middle East region or other\ncountries that want to enter here, they come in. Because this place is\nattractive. So, my expectation should be zero to positive,\u201d he\nadded.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/airlangga-guarantees-pfii-free-from-illicit-funds-1784875879", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }