Jakarta first, Bali next
Speaking at the International Forum for Government Credit Programs in Badung District, Bali, Airlangga said the government had reviewed the island's potential with state-owned enterprises a day earlier.
"Yesterday with SOEs, we also looked into Bali's potential to become a financial center, where the regulations have been drafted and are now in the finalization stage," he said.
Airlangga presented the plan as an opportunity to draw financial sector activity to Indonesia amid global economic uncertainty. He said the country could offer a safe and comfortable environment for that activity.
The planned sequence builds on a rollout described in July 2026 by Danantara Indonesia Chief Executive Rosan Perkasa Roeslani. He said operations would begin in Jakarta during a two- to three-year transition before expansion to Bali, Jakarta Globe reported. The initial base will be Danareksa Tower, a newly completed office building owned by the state investment group.
Finance Minister Purbaya Yudhi Sadewa said funding would come from both the state budget and the sovereign investment fund Danantara. Danantara is expected to contribute the larger share, according to Jakarta Globe.
Legal framework and operating rules
Indonesia's House of Representatives passed the Indonesian International Financial Center (PFII) bill into law at its July 21, 2026, plenary session, Kompas.id reported. The legislation established the legal basis for the country's first international financial center. The government says the project is intended to attract global capital flows and help meet an 8% economic growth target.
The government is using the Dubai International Financial Center as a model for PFII. Airlangga said in late October that officials were studying and adopting the Dubai approach, according to Liputan6.com.
The proposed dispute-resolution system would have two tiers, permit one appeal and use judges appointed by Indonesia's Supreme Court, Liputan6.com reported. Its design incorporates features resembling those of a common law system.
Other planned provisions include tax and customs facilities, easier licensing and the use of foreign currencies, according to Kompas.id. The center would also have dispute-resolution mechanisms different from those elsewhere in Indonesia.
A candidate site on Serangan Island
The Kura Kura Bali Special Economic Zone is a leading candidate for the financial center's Bali location. Government Regulation No. 23 of 2023 designated the 498-hectare zone on Serangan Island, according to ANTARA News.
Development of the area as an international financial center has an investment target of Rp104.4 trillion, or about $6 billion. Separately, the zone's developer said approximately Rp1.62 trillion in investment had been realized by the first quarter of 2026, with more than 2,100 jobs created.
Broadening Bali's economy
Airlangga linked the financial center proposal to efforts to expand Bali's sources of growth beyond its heavy reliance on tourism. He cited the Kura Kura Bali zone, which is being developed to attract investment and support economic activity, alongside the Sanur Health Special Economic Zone.
The Sanur initiative aims to develop health services that meet international standards and attract people traveling for healthcare. Airlangga also identified the digital economy and the development of local talent as opportunities to broaden economic activity in Bali.
