Airlangga Consults Supreme Court on Financial Centre Bill

Jakarta, CNBC Indonesia - Coordinating Minister for Economic Affairs Airlangga Hartarto has revealed that his ministry is currently formulating policies related to the planned establishment of an International Financial Centre (IFC) or Pusat Finansial Internasional Indonesia (PFII). He has even held a meeting with the Supreme Court last week to prepare the legal framework for the PFII, which will implement a common law system to attract global investors. “We have consulted and communicated with the Supreme Court regarding the legal structure of the Financial Centre,” Airlangga told reporters at his office on Wednesday (24/6/2026). Airlangga stated that the drafting of the regulation is currently underway and is being formulated into a draft law. “We will establish the law first, after that, we will arrange the technicalities,” he explained. Previously, the proposal for the International Financial Centre Bill by the government was officially approved by the Legislative Body of the House of Representatives and is ready for discussion. This follows the mandate of the Financial Sector Development and Strengthening Law. The Chairman of the Legislative Body, Bob Hasan, stated that the existence of the PFII Bill is mandated by the P2SK Law, so the House must follow up through the applicable legislative mechanism. “We cannot refute this because it is a mandate of the P2SK Law. The law’s mandate stipulates that a law on the international financial centre must be drafted,” Bob Hasan said during a working meeting with the Minister of State Secretary and the Minister of Law and Human Rights on Tuesday (23/6/2026). He explained that there is still room to debate the substance of the bill once the government submits the academic paper and the draft bill to the House. At that stage, factions can express their views or objections to the proposed content.