Jakarta, July 15 -- The sovereign wealth fund, Danantara, stated its readiness to support Bali in hosting the proposed Indonesia International Financial Center (IIFC) to strengthen the country's foothold in the global financial network.

"The IIFC initiative is not just about developing a financial zone; it also serves as an effort to build the world's confidence in Indonesia," Danantara Chief Operating Officer Dony Oskaria said in Jakarta on Wednesday.

He noted that the government had designated the Dubai International Financial Center (DIFC) in the United Arab Emirates as a benchmark, recognizing its pivotal role in transforming Dubai into a globally renowned financial hub.

According to him, the DIFC offers a wide range of advantages,...