503 DIM Rampung, RUU PFII Selangkah Lagi Jadi Undang-Undang

JAKARTA - The government together with the Working Committee (Panja) of the Draft Law (RUU) on the Indonesian International Financial Center (PFII) in Commission XI of the Indonesian House of Representatives has completed the discussion of the entire Inventory of Problems (DIM) list which amounts to 503 items.

The results of the discussion were agreed upon in the level I talks and will be brought to the level II talks at the DPR RI Plenary Meeting which is scheduled to take place on Tuesday, July 21, 2026, to obtain approval as a law.

The Chairman of the RUU PFII Panja and Deputy Chairman of Commission XI of the Indonesian House of Representatives, Mohamad Hekal, said that the discussion of the RUU was carried out intensively by involving various stakeholders to improve the substance of the rules.

"On behalf of the leadership and members of the Committee on the RUU about PFII, we express our deepest appreciation to all members of the Committee of Commission XI of the DPR RI and the government for the constructive and effective discussion in the discussion process of the RUU about PFII," said Hekal in a working meeting for decision-making level I, Monday, July 20.

Hekal explained that the preparation of the PFII bill was a mandate of Article 248A of Law Number 4 of 2026 concerning Amendments to Law Number 4 of 2023 concerning the Strengthening and Development of the Financial Sector (PPSK).

The provision requires the establishment of a special law regarding the implementation of PFII no later than three months after the law is enacted.

For information, Commission XI began discussing the PFII bill on July 2, 2026 through a joint working meeting with the government, and at the end of the meeting, the government explained the bill, while all factions agreed that the discussion should continue through the Panja mechanism.

As part of the principle of meaningful participation, the Committee also held public hearings (RDPU) on July 6, 8, and 9, 2026 by inviting academics, relevant ministries and agencies, financial sector authorities, banking associations, and professional organizations in the field of financial services.

The discussion of the substance of the bill was then continued in the Panja meeting on July 8, 9, 13, 14, 15, and 16, 2026, after which the Drafting Team and the Synchronization Team refined the text on July 17-19, 2026 before finally being passed in the Panja meeting on July 19 and 20, 2026.

During the process, the committee discussed a total of 503 DIM consisting of 367 DIM on the trunk and 136 DIM on the explanation section and of that number, 157 DIM trunks and 93 DIM explanations were maintained, while editorial changes were made to 53 DIM trunks and 12 DIM explanations.

In addition, there are substantive changes to 93 DIM body parts and six DIM explanations, the addition of 59 DIM body parts and 23 DIM explanations, and the deletion of five DIM body parts and two DIM explanations.

The results of the discussion made the structure of the bill expand from the original seven chapters with 53 articles to 10 chapters containing 73 articles.

The content of the Indonesian International Financial Center (PFII) bill is divided into 10 chapters that regulate various aspects of the implementation of international financial centers in Indonesia as follows:

- Chapter I regulates general provisions containing definitions and principles of the implementation of PFII.

- Chapter II regulates the establishment, position, and purpose of the implementation of PFII.

- Chapter III regulates the scope of business activities that can be carried out in the PFII area, both activities in the financial sector and other supporting sectors.

- Chapter IV regulates institutional aspects, including the establishment of the PFII Council, the PFII Management Institution (LP), the PFII Financial Services Management Institution (LP JK), the accountability mechanism to the President and the DPR RI, as well as further regulation regarding institutions through Presidential Regulation.

- Chapter V regulates the establishment of the PFII Arbitration Institution as an alternative to resolving disputes arising in the implementation of activities in the PFII area.

- Chapter VI regulates the establishment of the PFII Court as a special court that has the authority to examine, try, and decide on cases in the PFII environment, including regarding the composition of the court, its authority, procedural law, and funding.

- Chapter VII regulates the form of support from the central government and local governments in supporting the implementation of PFII.

- Chapter VIII regulates various tax facilities and other special facilities, including income tax incentives, VAT and PPnBM, customs facilities, tax treatment on inheritance and initial capital funding, reporting rights and obligations and administration of business actors, sanction provisions, to the provision of special facilities for business actors, experts, and other parties operating in the PFII area.

- Chapter IX regulates various special provisions applicable to PFII, including provisions on the use of language, applicable laws, licensing of the use of foreign exchange, and the conduct of financial transactions.

- Chapter X contains closing provisions regulating the exemption from the application of certain laws and regulations, the mandate for the preparation of implementing regulations, the provisions on the entry into force of the PFII Law, and its placement in the State Gazette of the Republic of Indonesia.

Hekal hopes that the ratification of the PFII bill can become a legal basis that is able to strengthen the sustainable growth of the national economy.

"We hope that the enactment of the PFII bill can be a real effort in increasing sustainable economic growth, equitable development, employment expansion, and deepening and diversifying the national economy as well as an effective contribution to the financial sector to realize the welfare of all Indonesian people," he said.

Furthermore, the Chairman of Commission XI of the DPR RI, Mukhamad Misbakhun, conveyed that all eight factions in Commission XI had approved the PFII bill, so that the discussion at the commission level was declared complete and the bill was ready to be brought to the second level of discussion in the DPR RI plenary session.

"We can conclude that the 8 fractions in Commission XI of the DPR RI have approved the bill on PFII. For this reason, it will be brought to the 2nd level of discussion in the plenary session of the DPR RI which will be held tomorrow, July 21, 2026," he said while knocking on the session hammer in the meeting room of Commission XI of the DPR, Monday, July 20.

After that, Misbakhun asked for approval from all members of the meeting. "Can it be approved?" Asked Misbakhun while tapping the hammer to indicate approval.

On this occasion, the Minister of Finance expressed his appreciation to the leadership and members of Commission XI of the DPR RI and the Panja RUU PFII for their cooperation and the discussion process which was considered to have taken place constructively, productively, and effectively.

According to him, the synergy between the government and the DPR reflects a common commitment to strengthening the foundation of the national economy through the development of a deeper, innovative, efficient, and integrated financial sector with the global financial system.

"The government has a view in line with the DPR RI that the establishment of the Indonesian International Financial Center is a strategic step to be a catalyst for deepening the financial market, diversifying instruments, and sources of financing, increasing investment, and strengthening Indonesia's position as part of the global financial ecosystem," he explained.