BCA Syariah Records Gold Financing Soared 198.6 Percent In 2024

Gold (Photo: Unsplash)

JAKARTA - PT Bank BCA Syariah (BCA Syariah) noted that gold ownership financing (global metal) with sharia or gold iB principles grew rapidly by 198.6 percent on an annual basis (year on year/yoy). The gold ownership financing reached IDR 153.8 billion in 2024 from the previous IDR 51.5 billion in 2023.

Director of BCA Syariah Pranata said that gold financing or gold installments recorded the largest growth among other consumer products. Home ownership loans (KPR) grew 73.4 percent yoy, while motor vehicle loans (KKB) contracted or minus 1.1 percent yoy.

"If we look at the number of customers, donating new BCA Syariah customers, then from the number of accounts including a fairly large increase, it is from gold. This is gold installments or gold murabahah," said Pranata quoting Antara.

According to Pranata, the continuous increase in gold prices has not reduced people's interest in being able to own gold. In other words, the community is currently more educated about the potential for gold which is a reliable instrument in the long term.

"Moreover, the BCA Syariah margin is very good. The margin we wear is far above the increase in the price of gold itself so that we see interest in gold or gold medal is increasing," he said.

BCA Syariah President Director Yuli Melati Suryaningrum said that currently, gold financing can be accessed by customers through the features available in the latest mobile banking, BSya. He hopes that the presence of this feature will further encourage the growth of gold financing at BCA Syariah.

"Yesterday in 2024, there were not too many who used BSya for gold (financing). Most of it was driven when there was Expo BCA because there were many promos. So in the future, it should be bigger than now," said Yuli.

According to Yuli, BCA Syariah also plans to develop gold savings products available in mobile banking in collaboration with third parties. Gold savings is expected to launch this year.

When asked whether BCA Syariah was considering applying for a Bulion business license to the Financial Services Authority (OJK), Yuli said that his party was still studying the Bulion business market. In addition, BCA Syariah also still needs preparation from the institution's perspective if it is to apply for the permit.

"Institutionally, we must have our own gold audit, we must have a risk management for gold itself, and so on (if we want to apply for a Bulion business license). That is certainly not easy and we must plan it as well as possible. So, we are still in the stage of learning this, "said Yuli.

Earlier on Wednesday (26/2), Indonesian President Prabowo Subianto inaugurated the Pegadaian gold bank and Bank Syariah Indonesia (BSI) services.

Pegadaian has obtained a Bulion business license from the OJK as of December 23, 2024. 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.

Meanwhile, BSI obtained an official permit for the implementation of the gold bank from the OJK through the OJK Letter No. S-53 / PB.22 / 2025 on February 12. Permits for BSI include two main business activities, including gold storage and gold trading.