The gold Exchange Traded Fund (ETF) launched by the Indonesia Stock Exchange (IDX) presents a new opportunity for the insurance industry in Indonesia, according to the Coordinating Minister for Economic Affairs Airlangga Hartarto.
"So this is one of the things we will continue to push," said Mr Airlangga in his presentation at the launch of the first gold-based Shariah ETF in Indonesia on 10 August, according to a report by idnfinancials.com.
He hopes that the five gold-based Shariah-compliant ETFs launched by the IDX will connect several parties, including investment managers, bullion banks, dealers, and custodian banks.