Jakarta. State-run pawnshop Pegadaian not long ago got approved as Indonesia’s first non-bank to run bullion services. It did not take long for Pegadaian to launch its gold deposit services. 

Gold’s value tends to increase each year, making it a good investment option. According to economist Telisa Aulia Falianty, deposits in general are a safe and stable instrument. Any gold saved that does not generate interest can give returns if saved as a deposit. 

“The Financial Services Authority states that gold deposits are the storage of a standardized amount of gold entrusted by the public to financial services institutions that organize bullion business activities based on an agreement between the parties. With this service, consumers can store the gold they own at a licensed financial services institution. Industry players who need gold can also obtain standardized gold loans to be used according to their needs. The gold savings from the public as an unallocated account can be used by financial services institutions that organize bullion business activities for the distribution of gold financing and/or gold trading," Telisa said. 

Gold deposits are also now available on Pegadaian Digital, enabling people to manage their investments anywhere and anytime. Gold also makes up 90 percent of Pegadaian’s business, coupled with its long experience. 

"Judging by the experience of several countries, building a bullion ecosystem can take up to dozens of years until everything can run effectively. For example, in Singapore and Turkey, it took 15 years. However, with Pegadaian's long experience in the gold business, I am optimistic that the time needed can be shorter with the support of multi-stakeholder collaboration," Telisa said. 

Pegadaian is also building its bullion services through the Plus Gold Savings service, gold trading, and other supporting infrastructure such as G-Lab (certification service for authenticity testing of precious stones, gold, and jewelry at Pegadaian), vaulting, and gold refinery.

The bullion services are expected to invest in gold.