# Indonesia to launch PFII operations in Jakarta > Live situation record from CLSTR: https://clstr.news/situations/indonesia-regional-legislators-local-governance > Updated: 2026-08-21T03:52:22.000Z. Sources: 54. Developments: 14. Following the enactment of the International Financial Center Indonesia (PFII) law on 21 July 2026, the Indonesian government has announced that initial operations will begin in Jakarta. This decision, following directives from President Prabowo Subianto, leverages Jakarta’s established financial ecosystem and infrastructure to ensure the center becomes operational quickly. While Jakarta serves as the immediate hub, the government is evaluating plans to expand the PFII to Bali. This expansion aims to combine high-end financial activities with world-class tourism to build a family office ecosystem, though development in Bali is expected to take longer due to required infrastructure construction. One potential site in Bali under evaluation is land owned by the Daya Anagata Nusantara Investment Management Agency (Danantara). To further attract global capital, Commission XI Chairman Mukhamad Misbakhun stated that incentives may include Golden Visas, 0 percent cumulative tax facilities for expatriates, and the option of dual citizenship. The goal is to use the PFII to draw funds into the real sector to stimulate job creation. However, economic analysts caution that achieving the 6 percent economic growth target outlined in the 2027 State Budget Draft (RAPBN) cannot rely solely on investment. Experts warn that because much investment remains concentrated in capital-intensive sectors like infrastructure, the government must recover domestic purchasing power and ensure equitable job absorption to prevent growth from failing to benefit the middle and lower classes. ## Timeline ### 2026-08-21: Indonesia to launch International Financial Center in Jakarta Indonesia will launch its International Financial Center (PFII) in Jakarta first to ensure rapid operation, with plans to expand to Bali once necessary infrastructure is developed. 3 sources. https://clstr.news/cluster/indonesia-to-launch-international-financial-center-in-jakarta ### 2026-08-14: Indonesia considers dual citizenship and tax incentives to attract foreign investment Indonesia may offer Golden Visas and dual citizenship via the PFII to attract foreign investment, though experts warn that 6% growth targets require stronger domestic purchasing power. 5 sources. https://clstr.news/cluster/indonesia-considers-dual-citizenship-and-tax-incentives-to-attract-foreign-investment ### 2026-08-02: Indonesia moves to launch International Financial Center to attract global capital Indonesia's Commission XI vice‑chair Mohamad Hekal says the fast‑tracked International Financial Center (PFII) will tap global capital flows, offering a competitive legal framework to attract funds amid geop­ol 2 sources. https://clstr.news/cluster/indonesia-moves-to-launch-international-financial-center-to-attract-global-capital ### 2026-07-22: Indonesia's Financial Center Law Enacted to Attract Global Capital Indonesia’s parliament passed the PFII law, creating a new international financial hub with sites under review in Jakarta and Bali and plans for transitional operations and investor incentives. 18 sources. https://clstr.news/cluster/indonesia-enacts-law-to-create-international-financial-center ### 2026-07-19: Indonesia Enacts International Financial Center Law Indonesia's parliament passed the PFII law, creating an international financial centre with tax holidays, Golden Visas and a special court to attract up to $28 bn in foreign investment, aiming for operation in 22 sources. https://clstr.news/cluster/indonesias-parliament-approves-bill-for-international-financial-centres ### 2026-07-08: Indonesia's PFII financial center moves forward with Bali site and regulations Indonesia pushes forward with PFII, a new international financial hub in Bali, set to get regulatory approval before Aug 16 2026 and aim to attract billions in foreign investment. 5 sources. https://clstr.news/cluster/indonesia-international-financial-center-projected-to-draw-up-to-277-billion-in-investment ### 2026-07-06: Indonesia Advances Plans for International Financial Center Indonesia is drafting a law to create a specialised International Financial Center, backed by OJK, with plans for dedicated regulation and investor‑friendly incentives, while scouting locations outside the new 7 sources. https://clstr.news/cluster/indonesia-advances-plan-for-international-financial-center ### 2026-07-02: Indonesia's House and Finance Minister Agree to Finalize International Financial Center Bill by July 20 Indonesia's DPR Commission XI and Finance Minister Purbaya agreed to finish the International Financial Center bill within 20 days, aiming for a 21 July plenary vote, to meet new legal deadlines. 5 sources. https://clstr.news/cluster/indonesias-house-and-finance-minister-agree-to-finalize-international-financial-center-bill-by-july- ### 2026-06-30: Indonesia's Kapuas and Kediri Regencies Approve Draft Laws on 2025 Budget Accountability Kapuas and Kediri regencies in Indonesia approved draft accountability laws for the 2025 regional budgets, with Kapuas addressing health staff shortages and Kediri noting a clean audit pending governor review. 4 sources. https://clstr.news/cluster/indonesias-kapuas-and-kediri-regencies-approve-draft-laws-on-2025-budget-accountability ### 2026-06-28: South Sulawesi legislators oversee 2026 regional budget, urging public involvement South Sulawesi legislators Andi Tenri Indah and Lukman B. Kady held public oversight sessions in Gowa, urging citizens to monitor the 2026 regional budget and voicing local needs for education, health and farm‑ 2 sources. https://clstr.news/cluster/south-sulawesi-legislators-oversee-2026-regional-budget-urging-public-involvement ### 2026-06-25: Indonesia's DPD and DPR Agree to Advance Island Regions Bill Indonesia's DPD praised DPR's approval to advance the Island Regions Bill, aiming to address infrastructure, transport, and service gaps in archipelagic areas within up to three legislative sessions. 3 sources. https://clstr.news/cluster/indonesias-dpd-and-dpr-agree-to-advance-island-regions-bill ### 2026-06-25: Indonesian Local Leaders Push Youth Skill Development Programs Bekasi’s mayor and Bandung’s DPRD secretary urged youth groups to boost skills, provide legal overseas work paths and adopt clear career roadmaps. 2 sources. https://clstr.news/cluster/indonesian-local-leaders-push-youth-skill-development-programs ### 2026-06-19: Indonesia regional legislators address party legal issue and infrastructure development Indonesia’s West Sumatra Democratic Party awaits court verdict on a corruption suspect before taking disciplinary action, while West Java DPRD officials call for more balanced infrastructure development at the 3 sources. https://clstr.news/cluster/indonesia-regional-legislators-address-party-legal-issue-and-infrastructure-development ### 2026-06-08: Indonesian Local Legislators Tackle Infrastructure, Education and Regulatory Reform Indonesian local legislators addressed flood, school fees and health service issues in Bekasi, while a Kapuas DPRD committee studied West Java reforms on hajj, waste and narcotics. 2 sources. https://clstr.news/cluster/indonesian-local-legislators-tackle-infrastructure-education-and-regulatory-reform --- Cite as: Indonesia to launch PFII operations in Jakarta. CLSTR, https://clstr.news/situations/indonesia-regional-legislators-local-governance