Business Model And Decision Analysis of Sharia Bullion Bank Implementation at PT Bank Syariah Indonesia TBK

Maula Harfi; Oktofa Yudha Sudrajad

doi:10.31004/koloni.v5i3.1123

Authors

Maula Harfi Institut Teknologi Bandung
Oktofa Yudha Sudrajad Institut Teknologi Bandung

DOI:

https://doi.org/10.31004/koloni.v5i3.1123

Keywords:

Business Model, Wholesale Market, Islamic Jurisprudence, Analytic Hierarchy Process, Sharia Compliance

Abstract

Indonesia ranks among major global gold producers but experiences massive capital outflow by relying on foreign financial hubs for precious metal refining and liquidity management. Domestic manufacturing industries must import refined gold bars because local financial institutions lack capacity to facilitate wholesale physical lending. This research aims to develop the most optimal business model for PT Bank Syariah Indonesia Tbk to transition into wholesale markets while maintaining absolute adherence to Islamic jurisprudence. The study utilizes one exploratory sequential mixed method design, combining global benchmarking and Multi Criteria Decision Analysis via the Analytic Hierarchy Process. Primary data collection involves in depth interviews and pairwise comparison questionnaires distributed to four senior executives. Mathematical synthesis reveals Regulatory and Sharia Compliance receives maximum priority with the weight of 0.589. Evaluating alternatives yields the Wholesale Centric Model as the most optimal choice, dominating with the global priority score of 0.557 over Retail Centric Models and Integrated Digital Ecosystems. The research concludes that upgrading physical vaulting infrastructure and securing London Bullion Market Association certification are vital to capture interbank liquidity margins and optimize state foreign exchange reserves.

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