Regulations
Indonesia has for a long time sought to develop its financial sector and hopes to provide wealth management services to rival neighboring Singapore, where many rich Indonesian families choose to invest.
Lawmakers attend a House of Representatives plenary session on July 1, 2025, at the Senayan legislative complex in Central Jakarta. (Antara/Dhemas Reviyanto)
House of Representatives’ Commission XI overseeing financial affairs on Monday agreed with the government on key provisions in a bill for the foundation of international financial centers (PFII) aimed at drawing in foreign financial investment.Limited details have been released to the public as of Monday, but authorities have previously said the bill will lay out tax incentives similar to those offered in financial hubs like Dubai, and that the holiday island of Bali was one potential location.
Indonesia, Southeast Asia's biggest economy, has for a long time sought to develop its financial sector and hopes to provide wealth management services to rival neighboring Singapore, where many rich Indonesian families choose to invest.
