Coordinating Minister Airlangga Proud of Bullion Customers' Surge in Just One Year

Jakarta (ANTARA) - Economic Coordinating Minister Airlangga Hartarto expressed pride at the significant rise in the number of Bullion Bank customers since its launch last year. This demonstrates the public’s growing enthusiasm for gold investment amid global economic uncertainty.

‘Of course, we remember February 26 when the President formally inaugurated the Bullion Bank business activities, or the Indonesia Gold Bank. However, at that time our challenge was to first build the roadmap or path forward,’ Airlangga said at the Launching Indonesia Bullion Ecosystem Roadmap in Jakarta, on Friday (6/3).

When the Bullion Bank was first launched, the number of customers stood at around 3.2 million. Now, within a year, the figure has risen to 5.7 million customers.

‘So, that increase happened quickly. And the amount of gold pledged at Pegadaian, the value of the gold has risen to 144.7 tonnes from 94 tonnes. Those who have used it for loans have also increased by 38.5 tonnes or equivalent to Rp102 trillion,’ Airlangga said.

He added that gold is a safe-haven investment instrument widely sought by the public to face various economic uncertainties, including global geopolitical dynamics.

With the growth of financial literacy, he continued, the public is increasingly understanding investment, especially gold. Moreover, Pegadaian and Bank Syariah Indonesia (BSI) are making it easier for people, enabling gold to be broken down into cash denominations of Rp100 thousand, Rp200 thousand, and others.

‘The strengthening of this ecosystem is further complemented by the formation of the Indonesia Bullion Market Association. This provides a coordination forum for the gold industry and government strategic partners,’ he added.

Looking ahead, Airlangga hopes that Haj savings can also be invested in gold. Based on experience, subsidies for Haj are continually added because their value remains competitive against the US dollar.

‘But with gold, we see it appreciates, so what is saved today can be withdrawn in the future; that delta can mitigate risk,’ he said.

Therefore, Airlangga will push to ease doing business for Bullion and continue to monitor its tax policy. In due course, it will be seen whether other incentives need to be introduced to ensure gold is physically safe to protect consumers.

‘With all these measures, Bullion gold, which has been pioneered, can be utilised optimally and sustainably,’ he closed.

The event was sponsored by several parties, including PT Pegadaian, Bank BSI, HRTA Gold, Galeri 24 Pegadaian, and the Indonesian Jewellery Producers Association (APPI).