Permit To Published, BSI Ready To Run Bank Bulion Business

JAKARTA - PT Bank Syariah Indonesia Tbk (BSI) is ready to run a Bulion bank business, following the issuance of a permit from the regulator regarding the implementation of bulion business activities to the Company.

The Bulion business license for BSI was issued by the Financial Services Authority (OJK) on Wednesday, February 12, for the Gold Trade and Gold Penitipan product. President Director of BSI Hery Gunardi said the company had obtained permission from the OJK regarding the implementation of Bulion business activities and this became the basis (legal standing) for the company to start running the Bulion bank business.

"We appreciate the trust and support from regulators and stakeholders so that BSI steps to the next level in managing the gold business, namely the Bulion bank," said Hery.

Hery is optimistic that in the future BSI will be able to spur the growth of the precious metal business in a sustainable manner, so that public inclusion to invest in gold according to maqashid sharia will continue to increase.

Bulion business activities based on POJK No. 17 of 2024 are gold-related business activities carried out by financial service institutions. OJK provides directions to BSI in the implementation of the new product, which must be carried out no later than 6 months from the date of issuance of the permit.

"Alhamdulillah, we have received this mandate, and this is inseparable from the customer's trust in the gold business that has been running by BSI so far. So this is what makes us even more optimistic that in the future it can be even bigger to encourage the gold business at Bank Syariah Indonesia," he said with optimism.

Previously, at the end of last year BSI was encouraged by the government through the Coordinating Minister for Economic Affairs Airlangga Hartarto to become one of two state-owned companies as pioneers of the gold bank in Indonesia.

"BSI's gold products, including in the future, God willing, the management of bank bulions, are unique differentiators of BSI who have the potential to grow even bigger with the increasing trend of gold investment in the community," said Hery asserted.

Related to this, BSI Director of Finance and Strategy Ade Cahyo Nugroho underlined that the current growth of Bank BSI is driven by the gold business. In fact, the gold business in BSI can be said to be a new game changer.

"So consumer products such as gold do grow significantly at Bank BSI. Even for 2025 we are even more optimistic because currently BSI has officially received a license to become a bank foreigner," said Cahyo completing Hery.

Therefore, continued Cahyo, the company is grateful to be one of the things chosen by the government to become the first gold bank in the country. This makes the forerunner of the more complete growth of the gold business ecosystem," he said.

What Cahyo said has a strong reason. So far, BSI has often strengthened cooperation with PT Aneka Tambang Tbk or Antam. In addition, at the end of November last year the company took strategic steps to provide investment solutions that were trusted and encourage the deepening of the Islamic finance sector through the gold industry through collaboration with PT Hartadinata Abadi Tbk.

Through this collaboration, the company launched BSI Gold. The product is an exclusive gold bullion metal bearing the BSI logo with a 99.99 percent capacity that has SNI standards, and has obtained recommendations for Sharia Compliance from MUI that the public can have through the BSI Cicil Emas product.

Meanwhile, regarding the precious metal business, BSI showed a very positive performance throughout 2024. Even BSI's business was driven by the enthusiasm of young people who were high in investing in gold.

The company's gold business rose 78.18% on an annual basis. Where gold cicil products became the prima donna with a financing surge of 177.42 percent yoy to IDR 6.4 trillion. In addition to gold installments, the BSI gold pawning business also experienced a significant increase. Its growth reached around 31.3 percent on an annual basis to IDR 6.4 trillion in 2024. The quality of this gold business financing is also very healthy with an NPF of almost 0%.

Gold business is indeed our unique product and has the potential to grow bigger. Because the trend of gold investment continues to increase because it is a safe haven asset. Moreover, the increase in gold prices is very well maintained and significant, for example, last year which reached 32.4 percent," he concluded.