PT Bank Syariah Indonesia Tbk. (BSI) has officially launched Indonesia's first bullion bank, marking a significant step in advancing the sharia economy. Appointed on February 26, 2025, BSI aims to capture the full economic value of the gold supply chain from safekeeping to trading while providing innovative investment solutions for the public.

Anton Sukarna, BSI's Director of Sales & Distribution, emphasized that gold will become a core pillar of the bank’s business strategy.

"BSI's bullion bank business will not only strengthen the sharia economy but also offer alternative investments by monetizing underutilized gold assets and optimizing the gold ecosystem," Anton explained during a media gathering at BSI’s headquarters in The Tower, Jakarta.

One of BSI’s key innovations is the introduction of Gold ATMs the first of their kind operated by a bullion bank in Indonesia. These ATMs allow customers to buy and print physical gold directly at BSI’s central and branch offices. In 2025, the bank plans to roll out 50 Gold ATMs across its network.

BSI will focus on two main business lines under its bullion bank operations: gold safekeeping and gold trading. These services will be supported by three core offerings:

1. BSI Digital Gold: a platform for buying, selling, and storing gold through the BYOND by BSI app.
2. BSI Gold: offering customers the flexibility to purchase physical gold through cash payments or installment plans at competitive prices.
3. Gold ATMs: allowing customers to withdraw or print gold instantly at select BSI locations.

Anton highlighted BSI’s robust infrastructure to support this new business. The bank currently serves 21 million customers and boasts 8 million users of the BYOND super app. BSI also operates 1,130 branch offices nationwide and employs over 600 professional gold appraisers.

The bank’s gold business has shown strong growth, with 17.5 tons of gold managed and a transaction volume reaching 29.7 tons in 2024 alone.

Anton expressed optimism about the future of gold investment in Indonesia, noting that the country holds 2,600 tons of gold reserves the sixth largest in the world. With 321 tons of gold bullion circulating in the market, BSI sees immense potential for expanding its bullion bank services.

Beyond investment, Anton pointed out that gold could also serve as a solution for hajj payment preparations. With the average waiting time for hajj reaching 15–20 years, investing in gold provides a way for customers to safeguard their funds as gold prices tend to increase over time.

As BSI continues to grow its bullion bank business, the bank remains committed to supporting the government's vision of strengthening the national sharia economy and pushing for 8% economic growth by 2029.

PHOTO: BSI

This article was created with AI assistance.