IBMA formed with 11 members to build Indonesia’s bullion market
The group is positioned as a regulator partner on standards, market education and stronger liquidity across the gold ecosystem.
Indonesia Bullion Market Association, or IBMA, was officially formed in Jakarta on Thursday, with 11 companies joining to strengthen the national bullion trading and services ecosystem. The association brings together players from upstream to downstream, from gold mining and ore processing into gold bars and silver, to bullion dealers, financing institutions and bullion banks. IBMA chairman Selfie Dewiyanti said the group was created to promote a market that is more transparent, credible and competitive. Coordinating Economic Minister Airlangga Hartarto said IBMA’s formation marks a new phase for the bullion industry after the regulatory and institutional groundwork has been built. Initial members include Pegadaian, Bank Syariah Indonesia, Hartadinata Abadi, Amman Mineral Internasional, UBS Gold, Galeri 24, ICDX Group and Laku Emas Indonesia.