SEAToday.com, Jakarta - The Presidential Communication Office (PCO) has outlined three key benefits of Indonesia’s Gold Bank, which had been officially inaugurated by President Prabowo Subianto this week.

PCO spokesperson Pita Laura highlighted on Thursday that Indonesia’s Gold Bank can help secure and structure a platform for gold transactions, diversification and easier access for gold investments, and enhancing national foreign exchange reserves through gold banking.  

According to Pita, these advantages contribute to national self-sufficiency, aligning with one of the key missions in President Prabowo Subianto and Vice President Gibran Rakabuming Raka’s Asta Cita vision.

"Achieving national self-sufficiency and strengthening the economy will help realize the vision of ‘Bersama Indonesia Maju Menuju Indonesia Emas 2045,’" Prita stated as quoted on Antara.

Prita explained that the Gold Bank serves as a structured and secured platform for investors to engage in gold transactions without the need to physically hold the assets. The Gold Bank is expected to support economic stability by better managing gold reserves.

Furthermore, the Gold Bank is investment diversification, allowing investors to have easier access to gold as an investment instrument. This initiative benefits domestic industries, including jewelry and mining sectors, by providing broader access to the global market.

Lastly, the establishment of the Gold Bank will contribute to Indonesia’s foreign exchange reserves. 

Prita noted that an increase in domestic gold ownership could contribute up to 1.6% of GDP growth, equivalent to IDR 245 trillion. Additionally, the Gold Bank ecosystem is projected to create 1.8 million new jobs, both directly and indirectly.

This week, Prabowo Subianto officially launched the Gold Bank on Wednesday (26/2) in Jakarta, with operations managed by Bank Syariah Indonesia (BSI) and Pegadaian.

BSI took responsibility in overseeing gold custodianship and gold trading, while Pegadaian’s Gold Bank ran gold saving accounts, gold storage, gold financing, and gold deposit accounts.

These new services complement BSI’s existing gold ecosystem, which includes gold pawning, installment-based gold purchases, and digital gold investments, with total gold currently managed at around 17.5 tonnes.

Pegadaian will collect and manage gold-based savings from the public, which can then be converted into gold deposits.

With these initiatives, Indonesia takes a significant step toward strengthening its gold-based financial ecosystem, supporting national economic growth, and enhancing financial inclusivity.

Writer: Andi Raisa Malaha Thambas