Indonesia Plans to Establish Financial Sector SEZ, Purbaya Says It Will Emulate Dubai

The Indonesian government plans to establish an International Financial Centre in Bali. This has been agreed upon with the National Economic Council (DEN) under the leadership of Luhut Binsar Pandjaitan. Accordingly, the concept to be pursued by the government is not a ‘family office’ as previously mentioned. “Actually, it’s not a family office; it will be a special economic zone for the financial sector,” said Finance Minister Purbaya Yudhi Sadewa at the BPPK Building in Jakarta, quoted on Monday (27/4/2026). Purbaya acknowledged that there is already a reference for developing a financial services special economic zone most suitable for Indonesia, namely the one established in Dubai, the Dubai International Financial Centre (DIFC). He hopes the financial services special economic zone project can be built quickly. “The model that appeals to me is the Dubai one. We will pursue it in the near future,” said Purbaya. According to Purbaya, President Prabowo Subianto has agreed to build the Financial Services Special Economic Zone. He stated that the project development will be led by Coordinating Minister for Economic Affairs Airlangga Hartarto. “The President has given instructions and guidance. So, the Coordinating Minister for the Economy will lead the team, and we will assist from there,” he explained. As is known, the plan to build an International Financial Centre in Indonesia was conveyed by DEN Chairman Luhut Binsar Pandjaitan when reporting the latest national economic conditions to President Prabowo Subianto at Merdeka Palace on Tuesday (21/4). According to Luhut, strengthening the initiative to develop the Indonesia Financial Centre is aimed at capturing the potential shift in global capital flows. “We are not just talking about survival, but how to take advantage of this situation. Accelerating GovTech and building the Indonesia Financial Centre are our strategic steps to leverage the shift in global capital flows. With solid collaboration between the government and the business world, we are optimistic that this momentum can be a catalyst for a national leap forward,” said Luhut.