Not a Family Office, Purbaya Agrees with Luhut's Idea to Establish Financial Services SEZ

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has stated that he has reached an agreement with the National Economic Council (DEN), led by Luhut Binsar Pandjaitan, regarding the establishment of an International Financial Centre in Indonesia.

Purbaya explained that this international financial centre will be established in Indonesia not in the form of a family office as previously circulated, but rather as a Special Economic Zone for the financial services sector.

“Actually, it’s not a family office; it will be a special economic zone for the financial sector,” said Purbaya at the BPPK Building, Jakarta, on Friday (24/4/2026).

Purbaya stated that there is already a reference for developing a financial services sector SEZ that is most suitable for Indonesia, namely the one already established in Dubai. Therefore, he believes the project to build the financial services sector SEZ can be constructed 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 also agreed to build the Financial Services SEZ. He said the project development will be led by Coordinating Minister for the Economy Airlangga Hartarto.

“The President has given instructions and guidance. So, the Coordinating Minister for the Economy will lead his team, and we will support from there,” he explained.

As is known, the plan to build the 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).

He stated that strengthening the initiative to build 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 national progress,” said Luhut.