Jakarta, Aug. 3 -- Indonesia is accelerating plans to establish the Indonesia International Financial Center (PFII) to attract global capital seeking new destinations amid geopolitical uncertainty, a senior lawmaker said.

Mohamad Hekal, deputy chairman of the House of Representatives' Commission XI, said the PFII initiative was driven by a limited window of opportunity as international funds, including family wealth, seek new investment bases.

"The P2SK Law created the idea of PFII and requires its establishment through legislation within three months. The urgency is not the law itself, but the geopolitical situation," Hekal said in Jakarta on Monday.

He said global funds could choose other countries if Indonesia failed to provide a ne...