Jakarta – Indonesian President Prabowo Subianto will inaugurate a gold bank on 26 February 2025. The move is part of the government’s latest strategic policy to boost competitiveness for economic transformation.

‘God willing, we will inaugurate it on 26 February,’ Prabowo said in Jakarta, Monday (17/2).

Prabowo said the initiated gold bank is the first in Indonesia’s history.

‘There is none in Indonesia. So much of our gold is mined and flows abroad. We want to have a special gold bank in Indonesia,’ he said.

In addition to the gold bank, Prabowo also imposed a policy to require foreign exchange export proceeds from the natural resources sector to be 100% deposited in national banks for 12 months.

‘With a period of 12 months from the placement in a special account for foreign exchange proceeds from natural resource exports in national banks,’ Prabowo said.

In more detail, Prabowo emphasised that this strategic policy was made to optimise the utilisation of Indonesia’s natural resources for the prosperity of the people.

‘The utilisation of Indonesia’s natural resources must be optimised for the prosperity of the nation and the people. Both through development financing, money circulation in the country, increasing foreign exchange reserves, exchange rate stability,’ Prabowo said. (RR)