{
    "success": true,
    "data": {
        "id": 1872529,
        "msgid": "president-to-directly-appoint-governor-of-indonesias-new-financial-hub-1784638627",
        "date": "2026-07-21 19:08:54",
        "title": "President to Directly Appoint Governor of Indonesia's New Financial Hub",
        "author": "",
        "source": "TEMPO_ID_BISNIS",
        "tags": "",
        "topic": "Economy",
        "summary": "The Indonesian House of Representatives has passed the bill establishing the Indonesia International Financial Centre (PFII), granting President Prabowo Subianto the authority to directly appoint its governor without a parliamentary fit and proper test. The government is currently evaluating several locations, including options in Bali, for the special economic zone.",
        "content": "<p>Indonesia now has a legal foundation for the Indonesia International\nFinancial Centre (PFII) after the PFII Bill was officially passed into\nlaw during a plenary session of the House of Representatives (DPR) on\nTuesday, 21 July 2026. The management body of the financial centre will\nbe led by a governor appointed directly by President Prabowo Subianto.\nMohamad Hekal, Deputy Chairman of Commission XI from the Gerindra Party\nfaction and Chairman of the PFII Bill Working Committee, stated that no\ncandidates have been proposed yet for the leadership of the financial\ncentre. \u201cThere are no candidates at all yet; that will be determined\nlater by the President,\u201d he said after the plenary session at the\nParliament Complex in Senayan, Jakarta, on Tuesday, 21 July 2026.\nAccording to Hekal, the President has full authority to appoint the\ngovernor without needing a fit and proper test mechanism from the DPR.\n\u201cIt will be directly by the President,\u201d he said. The PFII will have a\nspecial board led by a governor and a deputy governor. Under the board,\nthere will be several PFII Management Bodies responsible for operational\nmanagement. Additionally, a Financial Services Supervisory Authority\nwill be established to oversee the financial sector and supporting\nservices, along with a special court and an arbitration body within the\nzone. Hekal added that a PFII Advisory Board will be appointed to align\npolicies inside and outside the special zone. The composition of the\nAdvisory Board will be similar to the Financial System Stability\nCommittee (KSSK) and does not rule out the involvement of other elements\nsuch as the Financial Transaction Reports and Analysis Centre (PPATK).\nHekal could not yet confirm when the international financial zone will\ncommence operations but expressed hope it would happen as soon as\npossible now that the legal basis has been enacted, allowing the board\nled by the governor to be established. The government is currently\nreviewing several location options for the financial centre. \u201cI heard\nthere are maybe two or three areas in Bali being considered, and this\ndoes not rule out the possibility of additions later,\u201d he said. One of\nthe main investors appointed for the development of the PFII is\nDanantara. As an initial investor, Danantara is collaborating with a\nteam from the Dubai International Financial Centre (DIFC).<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/president-to-directly-appoint-governor-of-indonesias-new-financial-hub-1784638627",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}