DENPASAR, DEWATA.NEWS – Indonesia’s Financial Services Authority (OJK) has expressed support for plans to develop Bali’s Kura Kura Special Economic Zone (KEK) into an International Financial Center (IFC) aimed at attracting global investment flows.
OJK Chairwoman Friderica Widyasari Dewi said the initiative is viewed as a strategic step to deepen Indonesia’s financial market while increasing the country’s appeal to international investors.
“OJK fully supports this initiative because we see it as a very positive plan for establishing a financial center in Indonesia. It can become an accelerator for financial market deepening,” Friderica said during a Financial System Stability Committee (KSSK) press conference in Jakarta on Thursday (May 7, 2026).
According to OJK, the Kura Kura Bali KEK is expected to become an integrated financial innovation hub that accommodates new financial products, business models, and investment activities.
Authorities also envision the area serving as a pilot zone for testing and implementing new financial services and instruments.
“One of our major goals is to deepen Indonesia’s financial market while increasing the attractiveness of global investment entering the country,” she added.
OJK is currently expanding the range of national financial products, including initiatives involving gold banks and gold exchange-traded funds (ETF), as well as broader financial instruments beyond traditional interest rate and currency-based products.
The financial regulator also plans to support broader business activities for financial service institutions operating within the Bali financial center ecosystem.
Friderica stated that OJK will later implement dedicated supervision and regulatory frameworks specifically for the planned financial center in Bali.
“OJK will provide specific supervision and regulation for this financial center in Bali. We have coordinated with the Coordinating Ministry for Economic Affairs to prepare the framework, especially from OJK’s side,” she explained.
However, officials acknowledged that discussions regarding the institutional structure of the financial center, including the possibility of forming a special purpose vehicle (SPV) or trustee structure, remain at a preliminary stage.
The Indonesian government and regulators are expected to continue preparing regulatory frameworks and institutional concepts to ensure the financial center can operate in an integrated and competitive manner.
Kura Kura Bali was officially designated as a Special Economic Zone under Government Regulation No. 23 of 2023.
According to the official KEK website, the 498-hectare development is managed by PT Bali Turtle Island Development.