OCBC NISP Becomes the First Bank to Launch Digital Gold Savings Products in Indonesia

Dream - In collaboration with PT Pegadaian (Persero), OCBC NISP becomes the first bank to launch digital or online gold savings products in Indonesia. Through the ONe Mobile application, all customers can buy and sell starting from Rp10,000 using their savings or current account balance.

"OCBC NISP is the first savings account to work with us (Pegadaian) to channel gold savings," said Sahat P. Pangaribuan, Senior Executive Vice President of the Transformation Office of PT Pegadaian, in a press conference in Jakarta on Wednesday, August 23, 2023.

The Head of the Islamic Business Unit of OCBC NISP, Mahendra Koesumawardhana, ensures that gold savings are one of the halal investment instruments based on Shariah contracts that can be chosen by the public to diversify their investments.

"Together with Pegadaian, OCBC NISP is increasingly optimistic in presenting Gold Savings as an easy, safe, and affordable Shariah-based investment product and service," said Mahendra Koesumawardhana.

OCBC NISP explains that digital gold savings can be a convenient option because customers do not need to bother storing gold bars at home. Customers will receive 100% gold savings balance, with the physical stock stored securely at Pegadaian.

Customers can also print physical gold by visiting the selected Islamic Pegadaian Outlet.

Sahat P. Pangaribuan hopes that this collaboration can educate the public about the importance of investing in gold from an early age. Moreover, gold is one of the 10 largest investment instruments in terms of commodities.

"An investment instrument that has proven its resilience during the 2008 crisis, the 2018 crisis, and even during the 2020 pandemic," said Sahat P. Pangaribuan.

Previously, OCBC NISP released the 2023 Financial Fitness Index (FFI), which shows that the financial health of the younger generation in Indonesia can still be improved as it stands at 41.16 out of 100.

FFI 2023 also reveals that currently only 33% of the younger generation understands online gold savings products.

However, research shows that those who already understand the terms and benefits of online gold savings products in detail tend to have better financial health scores compared to those who do not understand.