Gold Bank Targeted To Release Next Year, Minister Of SOEs: I Hope There Will Be Acceleration

SOE Minister Erick Thohir. (Photo: Mery Handayani/VOI)

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir opened his voice about PT Bank Rakyat Indonesia (Persero) Tbk or BRI and PT Bank Syariah Indonesia Tbk (BSI) as managers of bullion banks or gold banks.

Erick admitted that he was ready to coordinate with other relevant ministries to finalize the plan.

For your information, the government through the Coordinating Minister for the Economy Airlangga Hartarto targets that bullion banks or gold banks can be formed in the first semester of 2025. BRI and BSI are also proposed to manage the gold bank.

"We have to sit together, with BSI too, I hope this is an acceleration," he said when met in the Tendean area, South Jakarta, Wednesday, December 11.

Erick said the discussion would also involve gold producers. Following the gold loga sale agreement between PT Freeport Indonesia (PTFI) and PT Aneka Tambang Tbk (Antam) last November.

"Especially with the system yesterday Freeport and Antam have collaborated, we already have sufficient gold reserves to be used as community savings," he said.

According to Erick, Antam's collaboration with PTFI was also able to erode dependence on imports of precious metal raw materials. Especially, gold bullion.

"So far, most of the raw materials we have sent abroad. But now it can be processed domestically," he said.

Previously, it was reported that the 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 in the formation of the Gold Bank, it does not require the formation of the National Gold Council. "We are talking about banks, don't make most of the 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 managers.

So, I think this is the beginning of some 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," he said.