What the government said
On 4 May 2026, Coordinating Minister for Economic Affairs Airlangga Hartarto outlined plans for an international financial center in Bali. It would be based in KEK Kura-Kura Bali. KEK (Kawasan Ekonomi Khusus) is Indonesia's special economic zone status, which comes with tax and administrative incentives.
The minister said the government is finalising a regulation that will serve as the legal basis for a financial-sector KEK in Bali. No document number was given and nothing has been enacted yet. For now, this is a stated intention.
What the zone already has
PT Bali Turtle Island Development (BTID) is the zone's developer and operator. As of the first quarter of 2026, realised investment stood at Rp 1.62 trillion. The zone had created jobs for 2,146 workers.
The concept includes a Knowledge District, an education and innovation cluster meant to become a new driver of growth for the island.
Why the state wants it
Officials hope to attract global investors through financial services and high-value tourism. The financial center is meant to make the national economy more competitive.
Kura-Kura Bali sits on Serangan Island in Denpasar and covers 498 hectares. Its investment target is Rp 89.9 trillion, so less than 2% has been realised so far. The minister said other sites are also under consideration, including KEK Sanur and areas near Benoa.
No launch date has been given. Until the regulation is published, it is too early to judge the market impact.
The minister tied the plan to geopolitical shifts in the region. He said Indonesia could become an alternative to Singapore and Hong Kong for foreign investors. A dedicated authority is planned to oversee the financial center.