Indonesia to Establish First Gold Bank, Inauguration Set for February 26, 2025

SEAToday.com, Jakarta - Indonesian President Prabowo Subianto is set to inaugurate the country’s first dedicated gold storage bank on February 26, 2025.

"We are establishing a gold bank because, until now, Indonesia has not had a dedicated bank for gold storage," Prabowo stated during a press conference at the Merdeka Palace in Jakarta on Monday.

According to him, domestically mined gold has been exported without a proper storage facility within the country. Therefore, the government has taken the initiative to establish a gold bank to manage and store this valuable commodity domestically.

"Our gold has been mined and immediately flows abroad. Now, we want to have our own gold bank in Indonesia. God willing, the inauguration will take place on February 26. This will be the first in our republic," Prabowo said.

On the same occasion, the President also announced the issuance of Government Regulation (PP) No. 8 of 2025, requiring all exporters to store foreign exchange earnings from natural resources (DHE SDA) in domestic banks. This regulation replaces the previous rule, PP No. 36 of 2023.

Additionally, Prabowo outlined several policies aimed at boosting economic growth in the first quarter of 2025, including accelerating the distribution of social assistance and the disbursement of holiday allowances (THR) for civil servants and private sector workers in March 2025.

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