Durian. Indonesia is planning to launch its first bullion Bank for gold reserves on 26 Feb. 2025 as announced by President Prabowo Subianto on Monday, 17 Feb. 2025 in Jakarta.
The establishment of the bullion Bank system is part of the government of Indonesia’s efforts to strengthen the country’s economy, especially in 2025.
President Prabowo said Indonesia’s gold reserves all this time were mined and flowing abroad.
“Now, we will have special bank for gold. God’s willing, we will launch it on Feb. 26,” President Prabowo said during a press conference on Indonesia’s measures to strengthening economy to reach growth target.
Indonesian government expects 2025’s economic growth at 5.2 percent.
Indonesia is the world’s sixth largest gold reserves. As of December 2024, Indonesia has US$6,602 billion of gold reserves.
Although Indonesia has yet had official bullion Bank, in December 2024, the Financial Services Authority (OJK) issued a permit for the state pawnshop PT Penggadaian for providing bullion bank services. (***)
