OJK: Bulion Business Development Can Save State Foreign Exchange

Illustration. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) said that the development of Bulion businesses in Indonesia can save the country's foreign exchange and support downstream programs.

"This saves our foreign exchange from importing gold by optimizing gold in the community through this Bulion bank can be intermediated," said Head of the Department of Financing and Development Institutions, Ventural Capital Companies, Micro Financial Institutions and Other Financial Services Institutions OJK Ahmad Nasrullah at a press conference in Jakarta, quoted from Antara, Monday 9 December.

He said that Bulion business activities can support the downstream gold program because it can support manufacturing activities to increase domestic gold supply.

Spirit yang kedua adalah, dari miner, refiner, ini ada spirit untuk program downstreamisasi, bisa membantu supaya bisa menopang kegiatannya, menambah produksi emas kita, ujarnya.

He said that Bulion business activities can only be carried out by financial service institutions whose businesses mainly distribute financing, such as banks, financing companies, and pawnshop companies, while insurance companies are not included in that.

According to him, currently there are two potential entities that are most prepared to organize Bulion business activities, namely PT Bank Syariah Indonesia Tbk and PT Pegadaian.

"When asked about readiness, especially these two are the most prepared in terms of infrastructure, in terms of capital, we will apply Rp. 14 trillion, yes, these two are the most prepared," he said.

If you have obtained a permit to carry out Bulion business activities from the OJK, he said, the entity can expand its business so that it is not limited to gold storage.

Bulion business activities are business activities related to gold in the form of gold deposits, gold financing, gold trading, gold storage, and or other activities carried out by financial service institutions.

In addition, the government will compile a long-term Bulion business roadmap to support the optimal development of Bulion businesses in Indonesia.

"We will together with the government will create a roadmap on Bulion so that later the Bulion business activities can run optimally as we expected and provide the maximum economic benefits to us. This is in our context towards Indonesia Gold 2045. So later our roadmap will be made in the long term," he said.