Indonesia's House and Finance Minister Agree to Finalize International Financial Center Bill by July 20

The House's Commission XI and the government have reached an agreement to complete the draft law on the International Financial Center Indonesia (RUU PFII) within 20 days, targeting a plenary vote on 21 July 2026. The accelerated timeline fulfills the mandate of Law No. 4/2026 amending the 2023 law on financial sector development, which requires the PFII bill to be finalized within three months of the June 2026 enactment of the updated P2SK law.

Finance Minister Purbaya Yudhi Sadewa will submit the academic paper and draft to the commission, while Commission XI Chair Mukhamad Misbakhun has appointed Deputy Chair Mohamad Hekal to lead the drafting committee. The legislation aims to provide a robust legal framework for establishing an internationally competitive financial hub in Indonesia, emphasizing good governance, legal certainty, and national sovereignty.