Sharia-Based Gold Trading Platform "Tamasia" Officially Launched

Sharia-based gold trading platform Tamasia officially launched to the public on Wednesday (11/10), as well as announcing a strategic partnership with Antam as a gold supplier.

Tamasia provides facilities for customers to buy and sell, deposit, and store gold which is run based on the sharia system. This platform offers gold purchases from 1 gram to 1 kilogram, with installment tenors ranging from 3 months to 24 months.

By running a business based on the DSN MUI Fatwa No. 77 of 2010, gold purchases are made transparently, with no down payment, and no penalties. If they are unable to complete the installments, the user will receive their money back after deducting admin fees and margins.

Every gold purchase will be stored and insured in safe deposit owned by Antam as a corporate partner of Tamasia. Gold can also be sent to the customer's address.

Regarding the implementation of the new Article 22 PPh tax imposed by the government, every transaction includes the tax price, if the user includes a TIN. If not, you will receive an additional 0,45% tax.

"Our vision is to educate the public about the importance of investing in gold for the future. The price of gold always rises every year and is a long-term instrument that is vulnerable to inflation. For the target marketInstead, we target the lower middle class and millennials," said Tamasia Co-Founder and CEO Muhammad Assad.

Assad continued, with the various advantages that Tamasia has above, it becomes a good selling point to compete in the market. Several companies that provide similar services include Bukalapak with BukaEmas and Orori with E-mas.

"We already have an application for buying and selling gold, adhering to sharia principles, and having resellers for extending sales channels. We think these three elements can attract new users."

Monetization strategy and future plans

For monetization, in Tamasia's business model, one of them uses reseller services as an extension of its distribution. To become a reseller, they are required to pay a registration fee of IDR 99.000.

With this fee, resellers will get benefits such as special applications for business, attractive profit sharing, training, and branding materials if they have an offline store. Apart from that, Tamasia also relies on the sales of gold which has been added to the profit.

"From the start, we built Tamasia, we didn't want to burn money. We took profit from the sale of gold which was added to the price we got from Antam. The bigger the sales, the bigger the income. After that, the reseller program also became a monetization channel for Tamasia. ."

Assad revealed in the next two months, which coincided with grand launch Tamasia, it plans to launch an additional "buy like-like" feature. Users can buy gold with whatever money they have.

Not only that, the company will also announce additional strategic partnerships and the acquisition of initial external funding from investors. Assad admitted that Tamasia was still using its own funds since it was first established in March 2017.

"Our plan is to grand launch Tamasia in December. Simultaneously, we will launch new features, add strategic partners, and initial external funding," Assad concluded.