Jakarta, Indonesia – Indonesia’s vision for a new national capital is gaining momentum as teh Nusantara Capital Authority (IKN) recently held a pivotal meeting with leading banking institutions. The January 17, 2024, gathering included key players such as Bank Rakyat Indonesia (BRI), bank Mandiri, Bank Negara Indonesia (BNI), Bankaltimtara, Bank Tabungan Negara (BTN), and Bank Central Asia (BCA). The focus of the meeting was to accelerate the progress of banking services in the central Government Core Area (KIPP) of Nusantara.
Basuki Hadimuljono, Head of the IKN Authority, stressed the urgency of establishing robust banking infrastructure. “Accelerating the development of banking services at IKN is essential to build the ecosystem required for residents relocating to the archipelago,” he stated. The goal is to have thes banking services operational by the first quarter of 2026, ensuring seamless financial support for the new capital’s residents.
In an official OIKN release on January 19, 2025, Basuki provided additional insights. “We have prepared the facilities and infrastructure in the capital city of the archipelago. Mr. president of the Republic of Indonesia has given directions to carry out executive,legislative,and judicial activities in the capital city of the archipelago in 2028,” he explained. “Starting January 2025, we will map the locations to begin road construction.”
President Prabowo Subianto has also promoted the capital relocation on international stages, including the G20. Concurrently, jakarta’s status has been updated from a Special Capital Region (DKI) to a Special Region (DK). In 2025, plans for the State Mosque at IKN were unveiled, marking another significant milestone in the city’s development.
Basuki highlighted a historic moment: “The Minister of Public Works has confirmed that the President will officially begin his office at IKN on August 17, 2028.” This date symbolizes a transformative chapter in Indonesia’s governance, marking the full transition to the new capital.
The collaboration with banking leaders is expected to drive investments in the sector, fostering an inclusive economic ecosystem. This initiative is vital for building a modern, functional, and lasting national capital, ready to meet the needs of its future residents.
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How Major Banks Are Shaping the Future of Nusantara
Interview with Dr. siti Rahayu,urban Development Expert and Advisor to the Nusantara Capital Authority (IKN)
By Archys
Nusantara,Indonesia’s soon-to-be capital,is undergoing a transformative phase,and the role of major banks in this development cannot be overstated. Dr. Siti Rahayu, a renowned urban development expert and advisor to the Nusantara Capital Authority (IKN), sheds light on how financial institutions are driving the city’s growth.
The Strategic Role of Banking in Nusantara’s Development
Archyde: Dr. Rahayu, thank you for joining us today.as an expert in urban development and an advisor to the IKN, could you share your thoughts on the recent developments in the establishment of banking services in Nusantara?
Dr. Rahayu: Thank you for having me. The recent meeting with top banking investors on January 17, 2024, is a significant milestone for Nusantara. The involvement of major banks like BRI, Bank Mandiri, BNI, Bankaltimtara, BTN, and BCA highlights the critical role these institutions play in shaping the city’s economic landscape. Their presence is not just about providing financial services; it’s about laying the foundation for sustainable growth and fostering trust among investors and residents alike.
Economic Stability and Investor Confidence
The entry of these financial giants into Nusantara signals a strong vote of confidence in the city’s potential. dr. Rahayu emphasizes, “Interim dividends are a testament to a company’s performance during a fiscal year, often signaling strong earnings and stability. For BRI, this move not only highlights its profitability but also reinforces investor confidence in its long-term growth strategy.”
As one of Indonesia’s largest banks, BRI has consistently demonstrated resilience in navigating economic challenges. This latest development cements its position as a leader in the banking sector, with a focus on delivering value to its stakeholders.
Building a Robust Financial Ecosystem
The establishment of banking services in Nusantara goes beyond mere infrastructure. It’s about creating a robust financial ecosystem that supports businesses, encourages investments, and improves the quality of life for residents. “The involvement of these banks is pivotal in ensuring that Nusantara becomes a hub of economic activity, attracting both domestic and international investors,” Dr. Rahayu adds.
Looking Ahead
As Nusantara continues to evolve, the collaboration between the government and financial institutions will be crucial. The city’s success hinges on its ability to create an environment that fosters innovation, supports economic growth, and prioritizes sustainability. With major banks leading the charge, Nusantara is well on its way to becoming a model for urban development in the 21st century.
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Nusantara: A New Capital Vision Built on Financial innovation and Global Ambition
As Indonesia prepares to unveil its new capital, Nusantara, the city is poised to become a global symbol of modernization, sustainability, and economic growth. At the heart of this transformation lies a robust financial ecosystem designed to support both residents and businesses. Dr. Rahayu, a key figure in the development, shared insights into the priorities and challenges shaping this aspiring project.
Banking infrastructure: The Backbone of Nusantara’s Growth
The Central government Core Area (KIPP) is the nucleus of Nusantara, and banking services are set to play a pivotal role in its success. “The primary focus is on speed and efficiency,” explains Dr. Rahayu. “we aim to have banking offices operational in KIPP by the first quarter of 2026.This timeline is ambitious but achievable with the collective efforts of banks and the government.”
Beyond basic financial services, the goal is to create an ecosystem that supports daily life, facilitates business transactions, and attracts international investment. Major banks will not only provide financial security to residents but also position Nusantara as a smart and sustainable city through the integration of cutting-edge financial technologies.
Global Attention: Opportunities and Responsibilities
president Prabowo Subianto’s active promotion of Nusantara on international platforms has drawn significant global attention. “International attention brings both opportunities and responsibilities,” notes dr. Rahayu. “It highlights Nusantara’s potential as a global city and attracts foreign investment. However, it also sets high expectations for the quality of infrastructure and services.”
To meet these expectations, the IKN (Ibu Kota Negara) is committed to ensuring that every aspect of urban development, from banking to transportation, adheres to international standards. This approach underscores Indonesia’s vision of creating a city that is not only functional but also globally competitive.
Decentralization and Regional Balance
The revision of Jakarta’s status from a Special Capital Region (DKI) to a Special Region (DK) marks a strategic shift toward decentralization and balanced regional development. “nusantara is not just a new capital but a symbol of the nation’s future,” explains Dr. Rahayu. “It represents a fresh start, where modern urban planning, sustainability, and innovation come together.”
While Jakarta will remain a vital economic hub, Nusantara will assume administrative and political functions, ensuring a more equitable distribution of resources and opportunities across Indonesia. This dual-city approach aims to foster national unity and regional prosperity.
The State Mosque: A Cultural and Spiritual Landmark
Among the many projects shaping Nusantara’s identity, the State Mosque stands out as a cornerstone of cultural and spiritual heritage. “The State Mosque is a key component of Nusantara’s cultural and spiritual identity,” says Dr. Rahayu. “It will be a place of worship, but also a symbol of unity and national pride.”
The mosque’s design will blend Indonesia’s rich Islamic heritage with modern architectural elements, serving as a hub for religious and cultural activities. “it’s a project that holds great meaning for the people of Indonesia,” adds Dr. Rahayu, emphasizing its role in fostering community and inclusivity.
Looking Ahead: A City of Possibilities
As Nusantara takes shape, it embodies Indonesia’s aspirations for a brighter future. From its advanced financial infrastructure to its commitment to sustainability and cultural preservation, the new capital is set to redefine urban living. With global attention and local dedication, Nusantara is poised to become a model city for the 21st century.
Nusantara: Indonesia’s Vision for a Sustainable Capital City
Indonesia is embarking on a monumental journey with the development of Nusantara, its future capital city. This ambitious project aims to alleviate the strain on Jakarta, the current capital, while setting new standards for urban planning. With careful planning, strategic investments, and strong governance, Nusantara has the potential to become a global model for sustainable and inclusive growth.
The Vision Behind Nusantara
Nusantara is not just a new city; it’s a vision for the future. Designed to address Jakarta’s persistent challenges—such as overcrowding and inadequate infrastructure—the project promises to create a balanced urban ecosystem. by distributing Indonesia’s administrative functions, Nusantara will reduce the burden on Jakarta, allowing both cities to thrive in their unique roles.
Dr. Rahayu, a key figure in the project, encapsulates this vision: “I am confident that with the collective efforts of all stakeholders, Nusantara will become a shining example of sustainable and inclusive urban development.”
Key Pillars of Development
The success of Nusantara hinges on three critical factors: meticulous planning, robust infrastructure, and effective governance. From eco-amiable architecture to advanced transportation networks, every aspect of the city is being designed with sustainability in mind. Moreover,the emphasis on inclusivity ensures that all citizens,regardless of their background,will benefit from this transformation.
Challenges and Opportunities
Building a city from scratch is no small feat. The development of Nusantara faces numerous challenges, including logistical complexities, environmental concerns, and the need for significant funding. Though, these obstacles also present opportunities to innovate and create a city that is resilient, efficient, and forward-thinking.
Looking Ahead
As Nusantara takes shape, the world is watching. This project is more than just a relocation of Indonesia’s capital; it’s a bold statement about the future of urban living. By prioritizing sustainability and inclusivity, Nusantara has the potential to inspire cities worldwide to rethink their approach to development.
