Bali to Become an International Financial Center, Not Just a Tourism Hub, Says Indonesian Government

Indonesia's Human Rights Minister Natalius Pigai announced on October 2, 2026, during the Bali-Timor Leste Business Forum 2026 held at the Kura Kura Bali Special Economic Zone in Denpasar, that the government is preparing to develop Bali as an International Financial Center (IFC), following a similar rollout in Jakarta.

The announcement came as part of the broader Bali International Business & Investment Forum (BIBIF) 2026, which brought together government officials, investors, financial institutions, and academics from Indonesia and Timor-Leste. Discussions covered four main areas: tourism, arts and culture, the Gold Economy, Blue Economy, and Green Economy, touching on financial services, trade, renewable energy, and sustainable agriculture.

The government envisions Bali not only as a tourism and MICE (meetings, incentives, conferences, exhibitions) hub but also as a center for economic diplomacy and financial services in the Asia-Pacific region. Cooperation with Timor-Leste is also expected to extend beyond tourism into trade, investment, education, and the digital economy.

No concrete legal framework or implementation timeline has been announced yet, and there is currently no direct impact on tourists or foreign residents in Bali.