Finance Ministry Official Reveals PFII Initial Capital Will Not Use State Budget

The Ministry of Finance has confirmed that the initial capital for the Indonesian International Financial Centre (PFII) will not use the State Budget (APBN). This was revealed by the Ministry’s Director General of Financial Sector Stability and Development, Herman Saheruddin, at the House of Representatives on Wednesday (8/7/2026). “Regarding the initial capital for PFII, for now the principle is that if possible, it will not use the APBN,” Herman said. He suggested that the initial capital funds could come from the Daya Anagata Nusantara Investment Management Agency (BPI Danantara). “Because Danantara already has funds. But we will see later, there is a possibility of other funding,” Herman revealed. Previously, during a public hearing on the drafting of the PFII Bill, Business Law Expert and Professor of Commercial Law at Gajah Mada University, Prof. Paripurna S. Sugarda, stated that the initial capital for the establishment of the PFII Management Institution could come from various sources. One source of funds could be Danantara, as well as from State-Owned Enterprises (BUMN) or cash. “The initial capital of the PFII Management Institution is sourced from business entities or the Daya Anagata Nusantara Investment Management Agency (BPI Danantara), and/or other legitimate sources in accordance with statutory provisions,” Paripurna said during the public hearing with the PFII Bill Working Committee in the meeting room of House Commission XI, Jakarta, Monday (6/7/2026). This provision is already contained in the draft PFII Bill. In the draft bill, this provision is contained in Article 5, with the following details: Paragraph (1) The initial capital of the PFII Management Institution may be in the form of: a. cash funds; b. state property; c. property of state-owned enterprises; and/or d. other legitimate assets. Paragraph (2) The initial capital of the PFII Management Institution is sourced from business entities or BPI Danantara and/or other legitimate sources in accordance with statutory provisions. Paragraph (3) Within a period of no later than 30 calendar days after the receipt of the initial capital as referred to in paragraph (2), the head of the PFII Management Institution shall submit the work plan and budget for the allocation of the initial capital to the Governor for approval.