Indonesian International Financial Centre to be Led by Presidentially Appointed Governor

Jakarta (ANTARA) - Deputy Chair of Commission XI of the Indonesian House of Representatives (DPR RI), Mohamad Hekal, revealed that the Indonesian International Financial Centre (PFII) will be led by a governor appointed directly by the President of Indonesia, without going through a fit and proper test mechanism at the DPR RI.

“Yes, the PFII governor (the PFII will be led by a governor),” Hekal told reporters at the DPR RI building in Jakarta on Tuesday.

He said that, so far, there has been no discussion regarding candidates for the PFII governorship. According to him, the appointment of the governor is entirely the President’s prerogative.

“There are no candidates at all. None whatsoever. That will later be determined by the President,” Hekal said.

Hekal explained that the Advisory Council is planned to comprise members of the Financial System Stability Committee (KSSK). The council could potentially also be strengthened with members of the Financial Transaction Reports and Analysis Centre (PPATK), although the decision on adding this composition has been left to the President.

“The PFII Advisory Council essentially serves to align things, so that if there are PFII policies, we must also safeguard the interests of the Republic of Indonesia outside the PFII area, and ensure the relationship remains harmonious with the money (liquidity) within the PFII,” he explained.

In addition, the PFII institutional framework also includes the PFII management body (LP) and the PFII financial services supervisory body (LPJK). The details of the PFII’s institutional structure are set out in Chapter Four of the PFII Law, which was passed by a plenary session of the DPR RI on Tuesday.