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Keyword: "bullion banks"

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President Prabowo Subianto delivering a speech during the inauguration of Indonesia's first bullion bank in Jakarta on February 26, 2025). (Photo: ANTARA)

Indonesia launches nation’s first bullion banks

Indonesian President Prabowo Subianto launched two “bullion banks” on February 26 that will provide gold deposit services to help keep stocks of gold onshore as the country looks to develop its commodity sector beyond mining.

Indonesia's State-Owned Enterprises Minister Erick Thohir. (Photo: ANTARA)

Indonesia ready to establish bullion banks

Indonesia is ready to set up bullion banks after developing its capability to produce gold bars domestically, according to Minister of State-Owned Enterprises (SOEs) Erick Thohir.