Coordinating Minister Airlangga Said That The Gold Bank Would Operate In The First Semester Of 2025
Coordinating Minister for Economic Affairs Airlangga Hartarto said that the Bullion Bank or Bank Emas is expected to be operational in the first semester of 2025.
Airlangga explained that Indonesia already has a legal basis related to the formation of the Golden Bank, which is as regulated in Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector or the P2SK Law.
"Yes, the bullion bank is actually from by law, we have included the law. And we hope that next year the first semester can be realized," he told the media crew, Tuesday, December 10.
In addition, Airlangga said that the formation of the Gold Bank did not require the formation of the National Gold Council.
"We are talking about banks, not the form of most councils," he said.
Airlangga revealed that Indonesia will have a gold bank or bullion bank and has been proposed to the Financial Services Authority (OJK) so that PT Bank Rakyat Indonesia (Persero) Tbk or BRI and PT Bank Syariah Indonesia Tbk or BSI as its managers.
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"So, I think this is the beginning of several banks that will become bullion banks. I propose to OJK, at least BRI, which is a shareholder of Pegadaian, and Bank Syariah Indonesia, must be able to become a bullion bank in Indonesia," said Airlangga at the Indonesia SEZ Business Forum 2024 event, Monday, December 9.
According to Airlangga, gold is part of a safe haven in times of crisis, therefore, Indonesia must be able to manage its gold assets independently in bank bulions.
"We know that gold is part of a safe haven investment in times of crisis. And in the last five years, we have experienced many crises. I don't think it's wise if we don't take advantage of our own strengths," he said.