Jakarta, 27 February 2025 – The change in people’s behaviour, from the old habit of storing gold in the corners of the house to becoming gold bank customers, is a small step towards a developed country. Optimising the management of gold reserves can contribute to economic growth that leads to national independence.
Presidential Communications Office Spokesperson Prita Laura welcomed the inauguration of the first gold bank service in Indonesia managed by PT Bank Syariah Indonesia Tbk (BSI) and PT Pegadaian. ‘A small step from the community can be a big leap for the country towards progress,’ she said.
There are a number of benefits of a bullion bank for the country, including the availability of a safe and structured platform for investors to transact without having to hold physical gold directly. A bullion bank can support economic stabilisation, as it better manages gold reserves, while helping to maintain national economic stability.
Meanwhile, the derivative of this small step, Prita added, is a kind of investment diversification for investors, because it is easier to access gold as an investment instrument. The industry also benefits, as domestic gold, including jewellery and mining, will gain wider access to the global precious metals market.
Furthermore, with better management, Indonesia can utilise gold as part of the national foreign exchange reserves. In economic terms, increased domestic gold ownership could contribute to GDP growth of 1.6% or IDR245 trillion. The gold bank service ecosystem is also projected to create 1.8 million new jobs, both direct and indirect.
According to Prita, all of the above benefits will lead to national independence as one of the missions contained in the Asta Cita of President Prabowo Subianto and Vice President Gibran Rakabuming Raka. ‘National independence and improving the economy support the shared vision of Indonesia Maju Towards a Golden Indonesia 2045,’ Prita explained.
Previously, on Wednesday (26/2/2025), President Prabowo Subianto inaugurated a gold bank managed by BSI and Pegadaian. BSI will run two main business activities, namely gold storage and gold trading. These two new services complement BSI’s existing gold ecosystem, such as gold pawning, gold instalments, and digital gold BSI, with a total gold under management currently around 17.5 tonnes. Meanwhile, Pegadaian’s gold bank service activities include gold savings, gold deposits, gold financing, and gold deposits. Pegadaian can collect funds in the form of gold from the public as deposits, and these deposits can be deposited into a gold bank. deposits and these deposits can be deposited.
Gold is a relatively prospective investment instrument because its value continues to increase. For example, by depositing gold deposits in a gold bank, people can get a return. Moreover, these gold deposits can be cashed out at any time and follow the market price at the time of disbursement. Not to mention in terms of ease of service, both institutions already have a digital system, so it is easy for customers at any time if they want to cash out their gold deposits.
The public is expected to make the most of the various services of the two institutions. Moreover, OJK Regulation Number 17 of 2024 states that bullion banks are business activities related to gold carried out by financial services institutions (LJK). ‘In one of the articles in the regulation, it is written that gold trading is a standardised gold buying and selling transaction. With the word standardised, it means a guarantee that people can store gold safely, rather than so far being stored at home which is relatively unsafe,’ concluded Prita.
