BSI (BRIS) CEO Reveals Interest in Developing Gold ETF Products
PT Bank Syariah Indonesia (Persero) Tbk. (BRIS) has stated its interest in developing gold exchange-traded fund (ETF) products. However, the company is still preparing the business and regulatory aspects before realising the product.
BSI President Director Anggoro Eko Cahyo said the company’s interest in gold ETFs is considerable. Nevertheless, product development in the banking industry requires a longer process compared to non-bank financial institutions.
“BSI is interested in ETFs, interested. But we are still preparing. The regulations in banking, the preparation is not as fast as non-banks. We are interested,” Anggoro said when met at BSI Tower, Central Jakarta, Thursday (20/8/2026).
In addition to gold ETFs, BSI is also preparing the development of its gold savings business. Anggoro said the company is still building an ecosystem or market so that gold collected from the public can later be channelled to parties in need, including gold shops.
“For gold savings, we must have the market first. We are currently building the market. So that if people save gold, we can channel it to gold shops that need it,” he explained.
According to Anggoro, BSI as a new player in the business needs to prepare its systems and business model carefully. In terms of licensing, BSI is said to have already obtained the necessary permits to run the gold savings business.
He added that the physical gold underlying BSI’s transactions will use a gold-to-gold scheme, so that the gold collected will have physical gold as its underlying.
“Because the physical gold is with us, our transactions are gold to gold. So at least that becomes the underlying,” he said.
Anggoro revealed that BSI’s total managed gold reaches around 24 tonnes. This figure includes gold from pawn products and gold savings.
“At BSI, our gold savings are around 24 tonnes. Both pawned and savings, around 24 tonnes,” he said.
BSI sees the gold business not merely as a way to enlarge its bullion bank business, but also as one of the company’s strategies to acquire new customers.
Anggoro said the company is pursuing growth in gold savings products. The more people save gold, the greater their opportunity to enter and use sharia banking services.
“For us, gold savings or gold instalments are part of enlarging the bullion bank, but also market penetration,” he said.
According to him, gold products are also one of the differentiators that BSI can offer when penetrating the public.
“Because when we offer sharia banking to the public, one of the differentiators is gold savings. So it is one of the products,” Anggoro said.