Tamasia Gold Buying Platform Releases Send and Sell Gold Features

The gold buying and selling platform Tamasia released the send and sell gold feature in the latest version 1.2.0 application which is now available on Google Play and the App Store. The presence of this feature is expected to boost Tamasia users, which is targeted to reach 300 thousand people by the end of this year.

CEO and Co-Founder Tamasia Muhammad Assad said that these two features were launched in line with the upcoming Lebaran moment. The send gold feature is believed to be a new way to give THR to the closest people.

He believes that Tamasia has mitigated the risk well so that the process of sending gold remains safe. The process of sending gold is done through the application only, but the value is not lost. Gold purchased by users is still purchased from Antam as a corporate partner and safe deposit boxit's still there.

"If I buy it for a friend, it means that it's just a transfer of ownership. The gold doesn't move, it's still there safe deposit box. In terms of effectiveness, this is more effective because we don't need to print gold, don't need to take out paper, but the value is still there. But the recipient can liquidate it or print it out," Assad explained.

These two additional features, he continued, complement the Tamasia service from previously only providing purchase and gold printing features. He hopes that Tamasia's business from here can increase the average gold purchase transaction to 3 kg from the current 1,5 kg per month.

The targeted users are expected to reach 300 thousand people by the end of this year. Now Tamasia users are claimed to have reached around 50 thousand people, with a total purchase value of 12 kg of gold, or the equivalent of 12 thousand grams of gold.

"We will increase user acquisition with additional features, namely free gold through referral codes to encourage as many new transactions as possible."

Tamasia has two products, Buy Suka-Suka (purchase of gold starts from Rp. 10 thousand) and Buy Periodically (free to determine the weight of grams of gold and the period of purchase transaction). Tamasia also provides a partnership program.

Immediately process the sharia certificate

Currently, Tamasia does claim to run its business according to sharia with a mudharabah (sale-purchase) contract which refers to the Fatwa of DSN MUI No. 77 of 2010. However, Tamasia does not yet have an official certificate issued by DSN MUI.

Assad said his party would immediately submit the process to the MUI DNS. Meanwhile, in its business process, Tamasia has formed a Sharia Supervisory Board (DPS) as one of the requirements. However, Assad is reluctant to reveal the names of his supervisors, one of which is Adiwarman Karim as Deputy Chair of the MUI DSN who acts as a consultant.

"We don't want to mention the names of the supervisors in our DPS, so we should consult first. Pak Adiwarman is one of our consultants."

Tamasia uses the principle of transparency and is run according to sharia. For Periodic Purchase products, DP, fines/penalties are not applied, and if you fail to pay the money can be returned after deducting admin fees and margins.

For margin withdrawal, the company uses the concept of commission taken from each transaction. For Periodic Purchases, the commission is around 5-20%, while for Buying Likes it is 3%.