Pegadaian Targets Gold Deposit Balance To Reach 1.5 Tons By The End Of 2025

PT Pegadaian targets gold deposit balances to penetrate 1.5 tons by the end of 2025, following the positive performance achieved since the product was launched through the Digital Pegadaian application in January.

"Within two weeks (after launching on the application), Pegadaian's gold deposit was 300 kilograms of gold. You can see, 300 kilograms of gold is almost Rp. 500 billion. Especially after it will be launched by the President, of course, people will be more attractive to save gold," said PT Pegadaian President Director Damar Latri Setiawan after the inauguration ceremony of the gold bank service in Jakarta, quoted by Antara, Wednesday, February 26.

Damar said that the advantage of gold deposits is that people can get attractive compensation. According to Pegadaian, the yields that can be obtained reach 1 percent per year with a flexible deposit tenor.

To open a gold deposit, customers must have a Pegadaian gold savings account and upgrade to a premium account in the 6.1.0 version of the Digital Pegadaian Application and transact at least 5 grams.

Deposit, the profits will get a reward. If you store (gold) under a pillow, you don't have a service fee. If you put it in a deposit, you can return the services and at any time you can charge it at a price to follow today. So, the system is better and through digital, "he said.

Pegadaian has obtained a business license for the Bulion from the Financial Services Authority (OJK) as of December 23, 2024, making it the first company or financial services institution (LJK) to obtain this permit in Indonesia.

Through a letter numbered S-325/PL.02/2024, OJK approved Pegadaian to carry out Bulion business activities which included gold deposits, gold working capital loans, corporate gold deposit services, and gold trading.

With this permit followed by the launch of a gold bank service by Indonesian President Prabowo Subianto on Wednesday, Damar said that basically Pegadaian only remains to continue the business that has been running so far and will further intensify business in the future.

He explained that the gold ecosystem at Pegadaian has also been formed, including supported by a subsidiary of Gallery 24 which is engaged in purification services, gold production and retail services, as well as jewelry.

The presence of a gold bank will optimize the collection of public funds in the form of gold, especially community gold which has been kept independently. With increased liquidity, Pegadaian can channel gold working capital loans.

"The pawnshop also has gold deposit services, with a very large capacity so that it can accommodate all gold deposits, both cooperatives and retailers. In addition, of course, trading (gold). With the monetization can run, of course there is gold that we can sell, some want to buy and so on, so that a market is formed, Pegadaian can bridge it as a hub for everything," said Damar.

On Wednesday, the gold bank services Pegadaian and Bank Syariah Indonesia (BSI) were officially launched by the President of the Republic of Indonesia Prabowo Subianto. Ahead of the 80th Anniversary of the Republic of Indonesia, said Prabowo, for the first time in the history of the Indonesian nation having a gold bank.

The President hopes that the existence of this gold bank can have a positive impact on the Indonesian economy. Prabowo also said that this gold bank will increase Indonesia's gross domestic product (GDP) to Rp245 trillion, open 1.8 million new jobs, and expand foreign exchange.

On the same occasion, Minister of State-Owned Enterprises (BUMN) Erick Thohir said that gold circulating in the community or gold stocks stored independently reached 1,800 tons.

This potential can be further maximized by the gold bank (Billion bank). Seeing this great potential, Erick said that his party also wanted to invite the public to believe and want to store their gold in a formal financial system that was ensured safe.