Banking on trust and Islamic principles led to the joint offering of the BSI Gold product by Bank Syariah Indonesia (BSI) with Hartadinata Abadi.
In a written statement to IFN Investor, Hartadinata Abadi representatives said for the initial offering of gold pieces engraved with the BSI logo, “we are providing gold weights ranging from five grams to 100 grams. There is potential for expansion to other weight options in the future”.
The five-gram gold average pricing on the 13th December 2024 in Indonesia, provided by EmasKu, is IDR7.26 million (US$453). While this gold product offering is being pitched mainly to wealthier clientele at the banking group, BSI’s ‘Cicil Emas’ instalment scheme is also available for retail investors.
This product subscription is exclusive to BSI branches and the BYOND app. With 99.99% purity, certified by Indonesian National Standard, and endorsed for Shariah compliance by the Indonesian Ulema Council, buy-back services extend beyond BSI branches to all Hartadinata Abadi stores. Clients can also get recourse to over 700 BSI Pawn Service outlets for temporary financial needs.
“The Shariah approach ensures that the source of raw materials, the production process, and the final product all comply with the ethical and legal guidelines of Islamic law. This alignment is our way of demonstrating responsibility and respect towards our consumers” explained Hartadinata Abadi.
Beyond the BSI partnership, Hartadinata Abadi aims to play a significant role in the global and Indonesian gold business. “Expanding product offerings and channels is essential.”
A current offering by Hartadinata Abadi is the EmasKu range of 99.99% pure gold pieces in weights of 125 grams, 250 grams, 500 grams and 1kg. It also offers jewelry with the Ardore branding. These are produced at four factories run by the firm.
Apart from Hartadinata Abadi’s sales outlets, the firm runs the Gemilang Hartadinata Abadi pawnshop business and the Emas Karya Abadi reseller.
