Gold Investment on the Rise

Fathan Qorib, Mahinda Arkyasa

Gold investment in sharia banks has been experiencing a significant increase. In a discussion on ‘Loss and Benefits of Gold Investment in Sharia Banks’ on Wednesday (10/4), Jefri Prayana, a representative from Indonesian Sharia Banks Association (Asbisindo), informed that gold investment in sharia banks has reached IDR 165 trillion. This number, according to Jefri, will continue to rise to reach IDR 306 trillion by 2015.

He added that based on his calculation, gold investment has a growth rate of 100% for every two years. Thus, Jefri urged sharia banks to actively develop and improve gold investments.

Despite the increase, Edy Putra Irawady, Deputy of Industry and Trade at the Coordinating Ministry of Economic Affairs, stated that there are still some issues that must be addressed to maximize gold investments, including publication and supervision.

He asserted that Bank Indonesia, the Ministry of Finance, and the Financial Services Authority must apply stringent supervision by establishing a joint supervision forum. He expects that such forum will minimize the risk of fraudulent gold investment schemes.

Meanwhile, Second Business Director of the State-Owned Pawn Shop (Pegadaian) Wasis Djohar concluded that there are several risks that must be noted when investing in gold, including the risk of investing in fake gold, fraudulent investment companies that have no business permits, and gold price fluctuation.

(jt)

Fathan Qorib, Mahinda Arkyasa

Gold investment in sharia banks has been experiencing a significant increase. In a discussion on ‘Loss and Benefits of Gold Investment in Sharia Banks’ on Wednesday (10/4), Jefri Prayana, a representative from Indonesian Sharia Banks Association (Asbisindo), informed that gold investment in sharia banks has reached IDR 165 trillion. This number, according to Jefri, will continue to rise to reach IDR 306 trillion by 2015.

He added that based on his calculation, gold investment has a growth rate of 100% for every two years. Thus, Jefri urged sharia banks to actively develop and improve gold investments.

Despite the increase, Edy Putra Irawady, Deputy of Industry and Trade at the Coordinating Ministry of Economic Affairs, stated that there are still some issues that must be addressed to maximize gold investments, including publication and supervision.

He asserted that Bank Indonesia, the Ministry of Finance, and the Financial Services Authority must apply stringent supervision by establishing a joint supervision forum. He expects that such forum will minimize the risk of fraudulent gold investment schemes.

Meanwhile, Second Business Director of the State-Owned Pawn Shop (Pegadaian) Wasis Djohar concluded that there are several risks that must be noted when investing in gold, including the risk of investing in fake gold, fraudulent investment companies that have no business permits, and gold price fluctuation.

(jt)

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