One Year of Bullion Running, National Gold Management and Customers Continue to Increase - VOI
JAKARTA - The government together with stakeholders in the bullion ecosystem commemorated the one-year implementation of bullion business activities in Indonesia as an important milestone in strengthening the national gold ecosystem and deepening the financial market.
Since its launch by President Prabowo Subianto on February 26, 2025, the bullion business or Bank Emas Indonesia has become an important milestone in the management of national gold in a more integrated manner from upstream to downstream in the country.
Coordinating Minister for the Economy Airlangga Hartarto said that amid increasing global economic uncertainty, including due to the Iran-US geopolitical tensions, gold prices have increased significantly.
Airlangga conveyed the development of prices and the increasing number of gold managed through bullion business activities reflected the increasing literacy and awareness of the public in utilizing gold as an investment and hedging instrument, which at the same time also strengthened the resilience of the national financial system in the face of external sector volatility.
“The bullion business activities, especially gold, which have been initiated, need to be optimally utilized so that they can make a real contribution to encouraging the national economy,” he said at the One Year Implementation of Bullion Business Activities event, quoted Sunday, March 8.
On the other hand, Indonesia’s economy also continues to show solid performance, namely in the fourth quarter of 2025, Indonesia’s economy grew by 5.39 percent (yoy), so that the overall economy throughout 2025 reached 5.11 percent, higher than most G20 countries.
With the support of fiscal stimulus, including government spending which is estimated to reach Rp809 trillion by the beginning of 2026 as well as various programs to maintain people’s purchasing power.
Airlangga said the government was optimistic that economic growth in the first quarter of 2026 could reach around 5.5 percent and overall be in the range of 5.4-5.6 percent throughout 2026.
He added that in the medium term, the strengthening of the bullion ecosystem is expected to support the economic transformation towards the 8 percent growth target in 2029 as stipulated in the 2025-2029 RPJMN.
Airlangga emphasized that the presence of the Bullion Bank is an important part of the strategy, especially in encouraging the downstreaming of gold and creating added value in the country.
“The strengthening of this ecosystem is carried out through the integration of the national gold value chain, ranging from increasing production and refinery capacity upstream to the development of bullion financial services downstream,” he explained.
According to him, through savings, financing, trading, and gold deposit services, domestic gold supplies are expected to be utilized more optimally while deepening the national gold market.
The performance of the Bullion Financial Services Institution, PT Pegadaian, showed positive developments, with the number of customers increasing from 3.2 million in February 2025 to 5.6 million in February 2026 after the inauguration of the bullion business.
In the same period, people’s gold savings also increased from 10.5 tons to 19.25 tons and overall, as of February 2026, Pegadaian recorded the management of the gold business line of 147.8 tons including 94 tons of captive pawns, with a total management of bullion business activities of 40.59 tons or around Rp. 102 trillion.
Positive developments can also be seen at Bank Syariah Indonesia, namely the total management of BSI gold includes installments, pawns, and gold savings before the launch of the Bullion Business Activity in January 2025 of 16.85 tons to 22.5 tons in February 2026.
In addition, gold savings customers increased significantly from 531,329 in December 2025 to 766,742 in February 2026.
Airlangga conveyed various strategic steps taken to strengthen the national bullion ecosystem, including through the issuance of tax incentive policies, as well as fatwas from DSN-MUI which provide certainty for the development of sharia-based bullion business activities.
In addition, he added that the strengthening of the bullion ecosystem was also continued to be encouraged through increased coordination between stakeholders and strengthening cooperation with various international institutions.
On this occasion, the Financial Services Authority (OJK) launched the Roadmap for the Development and Strengthening of Business Activities and the Bullion Ecosystem 2026-2031 as a direction for the development of the upstream, downstream, and financial services sectors of bullion.
In addition, the initial stage of the formation of the Indonesia Bullion Market Association (IBMA) as a coordination platform for national gold industry players and strategic government partners has also begun.
The issuance of POJK Number 2 of 2026 regarding Gold ETFs and the process of reviewing gold tokenization also encourages the development of gold-based investment instruments in the financial market.
Airlangga said the development of bullion products, strengthening synergies with the Islamic finance sector, ease of doing business, and increasing public literacy would continue to be encouraged to expand the investor base while optimizing the use of gold in the national financial system.
“Through the strengthening of an integrated and globally competitive bullion ecosystem, we optimize the potential of national gold to support financial system stability and sustainable economic growth. Exactly a year after the Bank of Bullion was present, strong assets, calm people,” concluded Coordinating Minister Airlangga.
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