TEMPO.CO, Jakarta - Since its launch in February 2025, Indonesia's national bullion bank ecosystem has accumulated approximately 153 tons of gold. "Since February 20, 2025, we have amassed a total of 153 tons of gold, held across Pegadaian and Bank Syariah Indonesia. This is an ecosystem we will continue to expand," said Ferry Irawan, Deputy for SOE Management and Development Coordination at the Coordinating Ministry for Economic Affairs, during the 2026 Risk and Governance Summit in Jakarta on Tuesday, July 14, as quoted by Antara.
Ferry explained that developing the bullion ecosystem is part of the government's efforts to deepen financial markets and strengthen the economy amid mounting global uncertainties. The administration continues to roll out financial sector reforms to sustain investor confidence, focusing on bolstering market governance, enhancing transparency, and deepening the domestic financial market.
Additionally, the government and Bank Indonesia are scaling up the use of local currency transactions (LCT) with trading partners to curb reliance on foreign currencies. Since its launch in 2018, the LCT framework has been established with six primary partners: Malaysia, Thailand, Japan, China, South Korea, and the United Arab Emirates.
In the financing sector, Ferry noted that the government has earmarked Rp340 trillion for the micro credit or KUR program to stimulate economic growth, create employment, and support productive sectors.
Ferry added that the government is also tightening the oversight of natural resource exports by refining export earnings repatriation policies to boost transparency, curb under-invoicing and transfer pricing, and maximize the added value of the nation's commodities.
He noted that several international institutions continue to maintain a positive outlook on the Indonesian economy. The International Monetary Fund (IMF) forecasts a 5 percent growth rate for the country's economy in 2026, while the Asian Development Bank (ADB) holds its projection at 5.2 percent.
Read: How Safe Is Indonesia's Debt? Minister Purbaya Responds
Click here to get the latest news updates from Tempo on Google News
Indonesia's Growing Gold Demand Spurs Bullion Bank Expansion
10 Mei 2026
Financial Services Authority (OJK) says increasing national demand for gold presents an opportunity to develop domestic production capacity.
List of New Government Agencies Formed by Prabowo Subianto
26 Agustus 2025
Government launched the Mineral Industry Authority and the North Coast of Java Authority Management Agency, adding to Prabowo's list of new agencies.
Pegadaian Bullion Bank Deposits Reach 700 Kilograms in First Month
27 Maret 2025
Prabowo launched the Pegadaian Bullion Bank Service at The Gade Tower in Jakarta on Wednesday, February 26, 2025.
The Danger of Mismanaging Bullion Banks
14 Maret 2025
The establishment of bullion banks needs good risk management and close oversight. It could have systemic implications.
Indonesia's Gold Bar Reserves Lags Behind Singapore, Says SOEs Minister
26 Februari 2025
Erick Thohir stated that Indonesia's gold bar reserve is only 201 tons, while Singapore's reaches 228 tons.
Rupiah Weakens Amid Bullion Bank Launch and Trump's Policy
26 Februari 2025
The rupiah is expected to fluctuate but is open to strengthen in tomorrow's trading.
President Prabowo Launches Indonesia's First Bullion Banks
26 Februari 2025
Indonesian President Prabowo Subianto launched two "bullion banks" on Wednesday.
Govt Assigns Pegadaian, BSI as Bullion Banks, Airlangga: To Mitigate Future Risks
18 Februari 2025
Coordinating Minister on Economic Affairs, Airlangga Hartarto, stated that the bullion bank will be launched on February 26, 2025.
Indonesia's Bullion Banks Expected to Create 800,000 Jobs
18 Februari 2025
Minister of State-Owned Enterprises Erick Thohir said the bullion bank or gold bank has the potential to increase the GDP by Rp 245 trillion.
Prabowo to Inaugurate Bullion Bank on February 26
17 Februari 2025
President Prabowo Subianto will establish Gold Bank, also known as bullion banks, as Indonesia currently lacks one.
