Bullion Bank Seen as Catalyst to Shift Indonesian Spending Habits Toward Gold-Based Wealth
Main Takeaways
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JAKARTA, investortrust.id — Sandra Sunanto, President Director of PT Hartadinata Abadi Tbk, or HRTA, expressed strong support for the establishment of a bullion bank in Indonesia, describing it as a strategic shift capable of transforming consumer behavior into productive financial habits. The institution, officially launched in December 2024, is expected to help Indonesians view gold not just as jewelry, but as a financial asset.
“We in the industry see that the launch of the bullion bank clearly targets the broader public. This means the public will benefit in terms of prosperity,” Sandra said during the Konvergensi podcast at the Investortrust studio in Jakarta on Friday, July 25, 2025.
She emphasized that the bullion bank could help consumers reconsider how they use surplus funds, even in small amounts. “People are starting to realize the value of storing their money in gold instead of spending it,” she noted.
Hartadinata Abadi, a publicly listed jewelry and bullion producer, plays a pivotal role in this ecosystem by supplying physical gold bars—key raw materials to support the bullion bank infrastructure.
Driving Financial Inclusion Through Gold
Sandra underscored the bullion bank’s potential to expand financial inclusion and deepen Indonesia’s financial markets through gold monetization. This includes services like gold savings, gold-based lending, and digital or physical gold custody. However, she pointed out that public understanding remains limited.
“Even though it was launched in December 2024, the public still lacks sufficient information about what a bullion bank is and how it works. So we’re still waiting for better outreach,” she said.
Sandra called on both the government and industry players to launch nationwide education efforts. “From the industry's point of view, we believe the government must intensify public education about the benefits of the bullion bank,” she added.
She also voiced full support for President Prabowo Subianto’s broader economic vision to “turn Indonesia into a gold-based economy” as part of building national resilience.
Collaboration Key to Unlocking Bullion Bank Potential
Sandra stressed that successful implementation would require coordinated efforts across stakeholders, especially to clarify the services offered—such as the storage of physical gold and the development of digital gold instruments.
On February 26, 2025, President Prabowo officiated the appointment of PT Pegadaian and PT Bank Syariah Indonesia Tbk (BSI) as Indonesia’s first bullion banks. Their services include gold deposits, gold-backed loans, trading, and custody, aimed at integrating gold into the broader financial system and investment landscape.
According to government projections, the bullion bank system could boost Indonesia’s GDP by around Rp 245 trillion ($15 billion) and generate up to 1.8 million new jobs. The retail gold sector is also expected to see an uptick in consumption, potentially generating Rp 30–50 trillion ($1.85–3.1 billion) in additional value for the gold ecosystem.
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