Indonesia Weighs Transforming Bali Into a Regional Financial Hub

Indonesia is planning to create a financial hub in tourist hotspot Bali as it seeks to boost its lagging economy by attracting international banks, asset managers and private equity firms, according to people familiar with the matter.

President Prabowo Subianto has endorsed his government’s proposal to model the tourist island after the likes of India’s Gujarat International Finance ­Tec-­City, also known as GIFT City, and the Dubai International Financial Center, said the people who asked not to be named because the plan is not public.