Pegadaian and Gold Industry Players Initiate Formation of Indonesia Bullion Market Association

Jakarta – In support of the government’s Asta Cita programme and to strengthen Indonesia’s position as a key player in the global gold market, PT Pegadaian, along with other gold industry players, is prepared to drive the formation of the Indonesia Bullion Market Association (IBMA).

The Indonesia Bullion Market Association is planned to be officially launched in June 2026. This strategic step is the result of a collective agreement from 11 renowned companies in the gold and logistics industry: PT Pegadaian, Bank Syariah Indonesia (BSI), AMMAN, ICDX Group, Hartadinata Abadi, Sentral Kreasi Kencana (SKK), Lakuemas, Brinks, UBS Gold, Central Mega Kencana (CMK), and Pegadaian’s subsidiary, PT Pegadaian Galeri 24.

Damar Latri Setiawan, President Director of PT Pegadaian, stated that the presence of IBMA is a response to the need for more integrated, transparent, accountable, and competitive domestic gold market governance. Pegadaian, as the pioneer of gold banking in Indonesia, will provide full support to IBMA.

“Indonesia is one of the world’s largest gold producers. With IBMA, we not only want to be a spectator, but also actively participate in developing the gold ecosystem from upstream to downstream, ensuring that local gold has global competitiveness,” said Damar.

Damar further explained that IBMA will serve as a key pillar in supporting the implementation of the Government’s Asta Cita programme, particularly in accelerating downstream processing and industrialisation of the mining sector. This effort aims to increase value-added and ensure that gold circulation remains within the domestic market.

“The presence of IBMA is projected to reduce transaction and logistics costs for the domestic gold industry by ensuring that domestically mined gold is absorbed as much as possible by the domestic market. This will not only generate more competitive prices for retail customers, but also strengthen national gold reserves as an instrument of macroeconomic stability,” added Damar.

At the same time, Selfie Dewiyanti, Director of Marketing, Sales, and Product Development at PT Pegadaian, was appointed as General Chair of IBMA. This appointment represents collective recognition from industry players of the company’s credibility and Pegadaian’s strategic role in guiding Indonesia’s gold ecosystem.