Initial Capital for PFII Management Body to Come from Danantara and State Assets

Jakarta, CNBC Indonesia - The government and the House of Representatives (DPR) are currently formulating the Draft Law on the International Financial Centre (PFII), which includes provisions for the establishment of the PFII Management Body. During a public hearing related to the drafting of the PFII Bill, Business Law expert and Professor of Commercial Law at Gajah Mada University (UGM), Prof. Paripurna P. Sugarda, revealed that the initial capital for the establishment of the PFII Management Body could come from various sources. One such source could be the Investment Management Agency Daya Anagata Nusantara (BPI Danantara). Additionally, funds could originate from State-Owned Enterprises (BUMN) or cash. “The initial capital of the LP PFII 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 stated during the public hearing with the PFII Bill Working Committee at the Commission XI meeting room of the DPR, Jakarta, Monday (6/7/2026). This provision is already included in the draft of the PFII Bill. The provision is contained in Article 5, with the following details: Paragraph (1) The initial capital of the LP PFII may take 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 LP PFII 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. Paragraph (3) Within a maximum period of 30 (thirty) calendar days after receiving the initial capital as referred to in paragraph (2), the head of the LP PFII shall submit a work plan and budget for the allocation of the initial capital to the Governor for approval.