Indonesia launches its first bullion banks
Indonesia, which is among the top 10 gold producers globally, has launched two bullion banks. They will provide gold deposit services to help keep stocks of gold onshore, as the country looks to develop its commodity sector beyond mining. They are also expected to accelerate savings and increase national gold reserves. President Prabowo Subianto said the bullion banks could help Indonesia save foreign exchange by allowing the entire gold supply chain to stay onshore. Chandni Vatvani reports from Jakarta.
Indonesia, which is among the top 10 gold producers globally, has launched two bullion banks. They will provide gold deposit services to help keep stocks of gold onshore, as the country looks to develop its commodity sector beyond mining. They are also expected to accelerate savings and increase national gold reserves. President Prabowo Subianto said the bullion banks could help Indonesia save foreign exchange by allowing the entire gold supply chain to stay onshore. Chandni Vatvani reports from Jakarta.
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