PT Merdeka Copper Gold Tbk (MDKA) stated that the establishment of a Gold Bank, also known as a bullion bank, by President Prabowo Subianto will bring benefits to both the Government and the public.
The President of the Republic of Indonesia, Prabowo Subianto, announced plans to launch the Gold Bullion Bank on February 26, 2025. This step is taken as one of the drivers to enhance the competitiveness of economic transformation.
General Manager of Communications at Merdeka Copper Gold MDKA, Tom Malik, believes that the government's establishment of a bullion bank, or gold bank, aims to manage gold transactions, which have become a popular investment choice for the people of Indonesia.
"The establishment of the bullion bank will bring benefits to both the government and the public. Among these benefits are foreign exchange savings, the industry will have a source of project financing, banks can diversify their products, and the public will receive returns on their savings. The gold bank is expected to encourage customers to store gold bullion," he said to Kontan on Thursday (19/2).
He believes that the Gold Bank established by the government will be similar to a conventional bank, but the asset stored will be gold bullion, targeting both retail and corporate customers.
He added that MDKA is a mining company that mines and produces gold, having been in operation since 2017. MDKA's gold mine in Banyuwangi, operated by PT Bumi Suksesindo, extracts and processes gold, the results of which are exported.
"The gold exports not only generate tax and royalty revenues but also bring in foreign exchange for the country," Tom explained.
