"We are studying about the family office. Our proposal for the government is to establish it at the NFC, or in other options that the government has conveyed," OJK's deputy director of banking development, Zulkifli Salim, said at the Investortrust Power Talk here on Thursday.
He said that the authority will wait for the government's final decision regarding the family office's establishment. Meanwhile, the OJK has conducted a study to support NFC development at IKN. It is expected to serve as a basis for policy formulation to support the financial center's development so that it has a positive impact on the national economy.
The financial center is being developed based on Government Regulation Number 12 of 2023 concerning the Granting of Business Licensing, Ease of Doing Business, and Investment Facilities for Business Actors in the Nusantara Capital City.
The NFC is projected to be a niche financial center that collects and distributes funding to local and offshore markets.
It has been envisioned as a center for banking service innovation in Indonesia that offers a range of financial products. With the NFC, Indonesia's financial sector is expected to become more competitive in the Southeast Asian region.
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Some of the products and services that will be offered at the NFC include commercial banking services, crypto assets, the provision of sustainable financing, wealth management, trustees, and Islamic financial services.
With the development of the NFC, OJK has proposed the development of family offices to attract ultra-high-net-worth individuals such as Bill Gates and Jeff Bezos. Earlier, President Joko Widodo held a Cabinet meeting to discuss investment potential through the family office scheme. The government has projected that family offices could attract US$500 billion in investment into the country.
