{"id":1190,"date":"2026-08-08T13:21:49","date_gmt":"2026-08-08T13:21:49","guid":{"rendered":"https:\/\/lpmcampus.com\/?p=1190"},"modified":"2026-08-08T13:21:49","modified_gmt":"2026-08-08T13:21:49","slug":"house-of-representatives-passes-pfii-bill-into-law-during-plenary-session","status":"publish","type":"post","link":"https:\/\/lpmcampus.com\/?p=1190","title":{"rendered":"House of Representatives Passes PFII Bill into Law During Plenary Session"},"content":{"rendered":"\n
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Source: cnbcindonesia
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LPM CAMPUS –<\/strong> The House of Representatives (DPR) of the Republic of Indonesia officially passed the Bill on the Indonesian International Financial Center (PFII Bill) into law during the 26th Plenary Session of the DPR\u2019s Fifth Session of the 2025\u20132026 Legislative Year. The session was attended by 291 members from all political factions and was held at the DPR Building in Senayan, Jakarta, on Tuesday, July 21, 2026.<\/p>\n\n\n\n

The plenary session was presided over by DPR Speaker Puan Maharani, accompanied by Deputy Speakers Sufmi Dasco Ahmad, Sari Yuliati, and Saan Mustopa. Before the bill was passed, Puan asked for approval from all factions present. After all participants unanimously agreed, the PFII Bill was officially enacted into law.<\/p>\n\n\n\n

Before the bill was passed, Mohammad Hekal, Deputy Chair of Commission XI of the House of Representatives and Chair of the Working Committee (Panja) on the PFII Bill, explained the legal basis for its establishment. He stated that the enactment of the PFII Law is mandated by Article 248A of Law No. 4 of 2026 concerning Amendments to Law No. 4 of 2023 on the Strengthening and Development of the Financial Sector (PPSK), which was promulgated on June 17, 2026. The article requires that provisions regarding the operation of the PFII be regulated under a separate law no later than three months after the PPSK Law was promulgated.<\/p>\n\n\n\n

The deliberation process for the bill was relatively brief for legislation establishing several new institutions. It began on July 2, 2026, with a working meeting involving government representatives after the DPR had approved the bill’s inclusion in the National Legislative Program (Prolegnas). The Working Committee then held a series of public hearings from July 6 to July 9, 2026, to gather public input, followed by substantive deliberations from July 9 to July 20, 2026, including the synchronization and finalization of the draft.<\/p>\n\n\n\n

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Source: Business Indonesia<\/em><\/p>\n\n\n\n

On July 19 and 20, 2026, the Working Committee completed the refinement and finalization of the draft. On July 20, a first-level decision-making meeting was held, during which all factions in Commission XI, together with the government, agreed to submit the bill for second-level approval during the plenary session. As a result, the bill was enacted only about 19 days after the first working meeting.<\/p>\n\n\n\n

The PFII Law consists of 10 chapters and 73 articles governing various aspects of the Indonesian International Financial Center, including general provisions, institutional arrangements, business activities, tax incentives, and closing provisions. The first chapter contains general definitions and principles, the second chapter regulates the establishment, status, and objectives of the PFII, while the third chapter governs business activities within the PFII, including financial services, financial support services, and other business sectors.<\/p>\n\n\n\n

In addition to these provisions, Hekal explained that the law also regulates the institutional framework of the PFII, including the Advisory Council, the PFII Council, the Management Authority, and the Financial Services Supervisory Authority, which will oversee business activities within the zone. The law also provides for the establishment of the PFII Arbitration Board as an alternative dispute resolution mechanism outside the general court system. Furthermore, it establishes the PFII Court as a specialized court with the authority to examine, hear, and adjudicate cases related to activities within the PFII.<\/p>\n\n\n\n

With this comprehensive institutional framework, the PFII is designed to operate under a relatively autonomous legal and regulatory system while remaining within the framework of the Unitary State of the Republic of Indonesia and receiving support from both the central and regional governments.<\/p>\n\n\n\n

Finance Minister Purbaya Yudhi Sadewa delivered the government’s final remarks during the plenary session. He described the establishment of the PFII as a strategic step to strengthen national economic resilience while expanding sources of development financing amid global economic dynamics. According to him, the initiative aims to strengthen Indonesia’s position as a new economic power on the international stage.<\/p>\n\n\n\n

The day before the plenary session, on July 20, 2026, the government and the House of Representatives reached an agreement on the bill during the first-level deliberations before it was brought to the second-level decision-making stage for final approval. This agreement served as an administrative prerequisite for the bill’s enactment during the plenary session.<\/p>\n\n\n\n

With the enactment of this law, Indonesia now has a legal framework for establishing an international financial center complete with its own governing body, supervisory authority, arbitration board, and judicial system.<\/p>\n\n\n\n

Writer: Salwa Nurul Aini Rakantika\/Communication Science ’25<\/strong><\/p>\n\n\n\n

Editorial: Bela Diana Puspitasari\/Physiotherapy 24\u2019<\/strong><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: cnbcindonesia LPM CAMPUS – The House of Representatives (DPR) of the Republic of Indonesia…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,76],"tags":[109,81,78,110,32,12],"class_list":["post-1190","post","type-post","status-publish","format-standard","hentry","category-uncategorized","category-news","tag-dpr","tag-lpmcampus","tag-news","tag-pfii","tag-surakarta","tag-ums"],"_links":{"self":[{"href":"https:\/\/lpmcampus.com\/index.php?rest_route=\/wp\/v2\/posts\/1190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lpmcampus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lpmcampus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lpmcampus.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lpmcampus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1190"}],"version-history":[{"count":1,"href":"https:\/\/lpmcampus.com\/index.php?rest_route=\/wp\/v2\/posts\/1190\/revisions"}],"predecessor-version":[{"id":1193,"href":"https:\/\/lpmcampus.com\/index.php?rest_route=\/wp\/v2\/posts\/1190\/revisions\/1193"}],"wp:attachment":[{"href":"https:\/\/lpmcampus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lpmcampus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lpmcampus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}