Danantara CEO: Indonesia Financial Centre to be Managed by Special Authority Body

The CEO of the Investment Management Agency Daya Anagata Nusantara (Danantara), who also serves as Minister of Investment and Downstreaming, Rosan Roeslani, stated that the formation of the Indonesia Financial Centre (IFC), currently under government review, will be managed by a separate authority body. Rosan explained that the existence of such an authority is necessary to specifically manage the financial centre area. “Yes, there will be its own authority body,” said Rosan after a meeting at the Coordinating Ministry for Economic Affairs in Jakarta on Tuesday. He elaborated that the establishment of the IFC is still in the initial discussion phase and will be further addressed through cross-ministerial and institutional coordination. Rosan noted that the discussions involve the Coordinating Ministry for Economic Affairs, the Ministry of Finance, Bank Indonesia, and the Financial Services Authority (OJK). According to him, the government is preparing various supporting aspects, from regulations and legal frameworks to incentives to attract global financial industry players. “We will be called by the President to discuss the establishment of the Indonesia Financial Centre, where we plan to look at potential locations in Bali,” he said. He added that the government will also identify several needs that must be followed up by each relevant stakeholder.