Indonesia, Home to Giant Gold Mine, Launches Bullion Banking
- Move could bring tons of private gold into financial system
- President says bullion banking to support currency stability
Indonesia has launched its first bullion banks in a bid to draw tons of privately held gold into the financial system of Southeast Asia’s largest economy.
The region’s largest gold producer on Wednesday inaugurated gold banking services at state-owned PT Bank Syariah Indonesia and pawn broker PT Pegadaian, a unit of state-run banking giant PT Bank Rakyat Indonesia, with officials saying more licenses could follow.
