Purbaya Targets PFII to Operate This Year, Bali as a Potential Location?

Finance Minister Purbaya Yudhi Sadewa is targeting the Indonesian International Financial Centre (PFII) to begin operating in 2026. However, before the financial centre can launch, the government must still complete various derivative regulations, including a Government Regulation.

“We will see, there is the Government Regulation and everything else that hasn’t been drafted yet. We hope to do it as quickly as possible. We can try for this year (to operate),” Purbaya said when met at the Ministry of Finance office in Central Jakarta on Tuesday (21/7/2026).

Purbaya assessed that global economic and geopolitical uncertainty actually provides the right momentum for Indonesia to establish an international financial centre. According to him, in a world full of turmoil, investor demand for a competitive financial centre tends to increase. “That is where the demand for a financial centre rises, when inefficiency is high. But when everything is calm and peaceful, it becomes increasingly difficult for us to compete,” Purbaya explained.

Although the operational target has been set for this year, the government has not yet determined the location for the PFII. Purbaya stated that the final decision will be based on the best proposal submitted to the government. He noted that the PFII location must have infrastructure readiness, be easy to develop, and be capable of attracting global investor interest to make Indonesia a base for international financial activities.

“According to the law, the Finance Minister ultimately decides. But we will see what the incoming proposals are like; for now, we haven’t decided which one. Whether it is Kura-Kura Bali, I don’t know. Kura-Kura has a Special Economic Zone (KEK). They say a KEK cannot be included. But look, it will depend on what the best proposal looks like. If there is a KEK, it can be dissolved,” Purbaya revealed. This statement opens the possibility for the Kura-Kura Bali area to be considered as a location for the PFII, although the government has not yet locked in a choice. The PFII is designed as an international financial centre expected to attract global capital flows, deepen the domestic financial market, and strengthen Indonesia’s position in the regional financial centre competition. The government is also preparing various incentives and regulatory specialities to enhance the PFII’s competitiveness compared to other international financial centres.