Dubai International Financial Centre (DIFC) has signed a Memorandum of Understanding (MoU) with Indonesia's Nusantara Capital Authority to enhance international financial cooperation.
The agreement was formalized at DIFC's premises in Dubai, with Essa Kazim, Governor of DIFC, and M. Basuki Hadimuljono, Acting Chairman of Nusantara Capital City Authority, leading the signing.
Key officials witnessing the signing included Erick Thohir, Minister of State-Owned Enterprises; Dr. Agung Wicaksono, Nusantara Capital Authority Deputy of Funding and Investment; Endra S. Atmawidjaja, Senior Advisor to the Indonesian Minister of Public Works and Public Housing; Arif Amiri, CEO of DIFC Authority; and Salmaan Jaffery, Chief Business Development Officer at DIFC Authority.
The MoU establishes a framework for collaboration to advance mutual interests and support the development of the Nusantara Financial Centre in Ibu Kota Nusantara (IKN). It focuses on exchanging expertise in financial centre operations, including regulatory frameworks and business models, to enhance operational efficiency and innovation. The agreement also aims to develop mechanisms for businesses from DIFC and IKN to establish operations in each other's jurisdictions, fostering global business integration. Additionally, both parties will collaborate on trends, legislation, and regulations in international financial services.
"This MoU marks an important milestone for Indonesia in establishing Ibu Kota Nusantara as a leading international financial centre,"
Hadimuljono stated.
"Our collaboration with DIFC will create an attractive investment environment, promote sustainable development, and contribute to the global financial landscape."
Kazim added,
"DIFC, as MEASA's leading financial centre, is well-positioned to facilitate significant opportunities through this strategic partnership with Nusantara Capital Authority. Together, we will drive the future of finance."
The Nusantara Financial Centre will be located in the Second Development Area within Nusantara, spanning 252,000 hectares. The financial district will cover approximately 260 hectares within a broader business and financial centre of 3,000 hectares. Construction in the First Development Area, the core government zone, is on track for completion by Indonesia's Independence Day on 17th August 2024.
News Source: Emirates News Agency
