Jakarta –
The commercial activities of gold bullion or banks will be regulated. This was stated in the Financial Sector Development and Strengthening Bill (RUU) or the Financial Omnibus Law.
Quoted from draft PPSK Bill Version 5.0, Friday (9/12/2022), Article 130 of the draft states that gold-related business activities in the form of gold deposits, trading and custody are carried out by financial services institutions (LJK) .
“Gold trading activities are gold-related businesses in the form of deposits, financing, trading, gold custody and/or other activities performed by FSI,” reads the article cited by detikcom.
So in Article 131 it is stated that this business must obtain a permit from the Financial Services Authority (OJK).
“FSIs carrying on trade in bullion under Article 130 must first obtain a permit from the Financial Services Authority,” reads Article 131.
The next article describes the LJKs that can engage in gold banking so that the penalties are regulated in the OJK Regulation (POJK).
“The provisions on FSI that can carry out bullion trading activities, the phased implementation of the bullion trading activities, governance, risk management, prudential principles and administrative sanctions are regulated in the regulation of the Services Authority finances”, reads article 132 of the bill.
(acd/hns)
