Indonesia Bullion Market Association established to strengthen gold ecosystem

The Indonesia Bullion Market Association (IBMA) has been officially established to develop a credible, efficient, and sustainable bullion market through collaboration, standardization, and industry education. The inauguration took place at BSI Tower on August 20, 2026, and was officiated by the Coordinating Minister for Economic Affairs, Airlangga Hartarto.

Selfie Dewiyanti, the Director of Marketing, Sales, and Product Development at PT Pegadaian (Persero), has been appointed as the Chairperson of the IBMA. This development follows the launch of bullion business activities, or Gold Bank Services, by President Prabowo Subianto in February 2025.

Currently, bullion banks in Indonesia manage over 170 tons of gold, with 153 tons being managed by Pegadaian. President Subianto has recognized the Gold Bank as a strategic breakthrough to secure national assets, strengthen the financial system, and increase the added value of Indonesia's natural resources.