The bullion bank business of PT Bank Syariah Indonesia Tbk (BSI) has experienced significant growth since its launch by President Prabowo Subianto on February 26, 2025.

Gold purchase transactions at BSI in the second quarter of 2025 increased by 441% compared to the same period last year.BSI is the only bank authorized to provide bullion banking services.

Wisnu Sunandar, SVP Corporate Secretary & Communication at BSI, said physical gold bars are currently in high demand.

“The potential for this bullion bank is very large; now, the focus is on increasing demand,” he explained. Gold serves as a safe haven and wealth protector.

Why Gold Bullion is Becoming a Preferred Wealth Protector in Indonesia

The total volume of gold purchased at BSI reached 693 kilograms, with 238,000 transactions recorded during the period.

Wisnu stated, “Gold supports the monetary and fiscal resilience of a country while serving as a wealth protector for society.”

Innovations and Digital Inclusion Driving Gold Purchases at BSI

To maintain growth, BSI is focusing on strengthening gold bank inclusion, making it easier for the public to obtain physical and digital gold.

Wisnu noted, “BSI has BYOND by BSI, where people can buy gold at competitive prices anytime, starting from 0.1 grams.”

BSI is also collaborating on BSI Gold. He emphasized that what needs to be strengthened is inclusion, since gold has long been familiar to the public, and the bullion bank facilitates small-scale gold purchases.

Government and Policy Support Accelerating Bullion Bank Expansion

Vice President Ma’ruf Amin said the bullion bank emerged from the public’s need to save gold gradually.

“Gold savings are becoming more attractive due to public demand for saving or depositing in gold form.”

He added that from a Sharia perspective, gold savings through installments are allowed since gold is considered a commodity.

He also stressed the importance of security to ensure that the bullion bank services provide safety to the public.

“Gold is a savings and guarantee in managing our financial system. This will strengthen finance as we start the era of Sharia economy and revive muamalah,” he said.

Chairman of Commission XI DPR RI, Mukhamad Misbakhun, remarked that the government aims for Indonesia to be a global bullion bank center.

He said, “I have told Mr. Muliaman (Muliaman D. Hadad) when he was the President Commissioner of BSI and Kiai Ma’ruf Amin when he was vice president, that bullion is a strong alternative to strengthen our Sharia system. This is the most rational entry point to strengthen the Sharia system.”

PHOTO: BSI

This article was created with AI assistance.