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Banks, OJK begin work to set up shop in Nusantara
Financial institutions and regulators have announced groundbreaking and plans for office buildings in Indonesia’s future capital, which the President has vowed to turn into a smart city and digital banking hub.
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Construction of the Nusantara Central Government Area (KIPP) of the new capital city Nusantara continues in North Penajam Paser regency, East Kalimantan on Dec. 7, 2023. (Antara/M Risyal Hidayat)
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inancial institutions and regulators have announced the beginning of work on office buildings in Nusantara, which President Joko “Jokowi” Widodo has vowed to turn into a smart city and digital banking hub.
On Thursday, lenders Bank Mandiri, BNI and BRI all held groundbreaking ceremonies in the future capital city, while the Financial Services Authority (OJK) also announced plans for the construction of an office building.
The establishment of financial services on the ground is expected to have a positive impact on the economic development of the newly built city.
At the BRI groundbreaking event on Thursday, President Jokowi pointed to the institutions’ crucial role in the development of micro, small and medium enterprises (MSMEs), according to a press release from the Cabinet Secretariat.
The President also expressed his appreciation for plans by Bank Mandiri, the country’s largest lender in terms of assets, to provide digital services in the future capital.
Read also: Govt officials to use public transit instead of service cars in new capital: IKN Authority
“If the digital ecosystem here [in Indonesia] is established, it will attract digital nomads to live in [Nusantara], because this city will be different from other cities in the world; it will not be crowded but lively. There will be no pollution because every place will have electric vehicles and public transportation,” the President said, as quoted from the same release.
