OJK Plans To Build Financial Center At IKN

Illustration (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) supports the acceleration of development and development of the capital city of Nusantara (IKN) by preparing the establishment of a Financial Center (Financial Center) at IKN with stakeholders in the financial services industry.

OJK Banking Supervision Chief Executive Dian Ediana Rae said this effort was a form of the authority's commitment to support the acceleration of IKN development and development.

"OJK has compiled a study entitled The Establishment of a Financial Center at IKN which will be the basis for formulating future policies to support the realization of a financial center that is able to have a positive impact on the national economy," he said in a press statement, Friday, June 9.

According to Dian, Government Regulation No. 12 of 2023 concerning the Provision of Business Licensing, Ease of Doing Business, and Investment Facilities for Business Actors in the Capital City of the Archipelago (PP IKN) has mandated the construction of a Financial Center at IKN.

Dian said, the area designated as a concentration of financial services as well as a technology development center and supporting services in the field of financial services.

"The Financial Center in IKN plays a role in collecting and channeling funding from or to local markets and offshore. Then, this facility will also be directed as a center for innovation of banking services in Indonesia with wider financial products," he said.

Dian added that several products and services that will be available at the Nusantara Financial Center include full range of commercial bank services as a universal bank, products of crypto assets, sustainable finance products, bullion, structured products and wealth management, trustees, and Islamic finance which will later be organized by the Special Business Unit (UUK).

Meanwhile, UUK itself is an autonomous branch office with its own structure and special capital allocation.

Dian said that the success of financial center development was influenced by several factors, including the business environment, human resources, infrastructure, financial sector development, and reputation.

"Therefore, the development of competitive financial centers requires participation from the government through related ministries and institutions according to their respective authorities," he said.