Kinesis powers gold savings app for Indonesian Hajj Brotherhood Association (IPHI)

In another successful integration within the nation of Indonesia, Kinesis is pleased to announce a new Kinesis-powered white-labelled gold savings application for the Indonesian Hajj Brotherhood Association (IPHI).

Due to the shariah-compliance of Kinesis gold (KAU), the IPHI selected Kinesis’ native asset to introduce gold savings to their 10-million strong membership, comprised of Indonesian citizens of the Islamic faith who have taken part in the Hajj pilgrimage.

Through a white-labelled solution, Kinesis utilises its existing gold savings technology functional for the Gold to Mecca and #GoldforNation initiatives.

Indonesian Hajj Brotherhood Association (IPHI)

Recently celebrating its 40-year anniversary, the Indonesian Hajj Brotherhood Association was established in 1983. The nationwide association boasts prominent figures, including the President and Vice President of Indonesia and former leaders within the Indonesian government.

The association is a forum for Hajj alumni from all over Indonesia to join upon returning from Mecca, with membership automatic for those that have performed the pilgrimage. In Indonesian culture, members of IPHI and Hajj alumni are respected, influential members of the community.

Inclusive gold investment​

The shariah-compliant nature of Kinesis gold-based savings programs will further drive gold adoption within the nation of Indonesia.

All Kinesis-powered applications within Indonesia are supported by the Sharia Supervisory Board (formed by the National Sharia Council). Therefore, the application enables Indonesia’s predominantly Islamic population to manage their wealth in debt and interest-free physical gold.

Kinesis in Indonesia​

The white-labelling of our application for IPHI is the latest of a series of strategic integrations with the Indonesian government. Kinesis will continue to build and progress integrations within the region, providing citizens across Indonesia with low-cost mobile access to the timeless value of gold bullion.

The swift implementation of Kinesis’ white-labelled solution to satisfy the needs of another nationwide organisation demonstrates the efficiency and promise of the model.

With the proven versatility of Kinesis technology, the scope for future integrations is near-limitless. The infrastructure is ready to deploy with those governments and organisations across the globe, seeking to provide greater economic stability and financial access.

See here: https://kinesis.money/company-news/kinesis-gold-savings-app-indonesia/

 

[Dante Roman]

View attachment 2708

In another successful integration within the nation of Indonesia, Kinesis is pleased to announce a new Kinesis-powered white-labelled gold savings application for the Indonesian Hajj Brotherhood Association (IPHI).

Due to the shariah-compliance of Kinesis gold (KAU), the IPHI selected Kinesis’ native asset to introduce gold savings to their 10-million strong membership, comprised of Indonesian citizens of the Islamic faith who have taken part in the Hajj pilgrimage.

Through a white-labelled solution, Kinesis utilises its existing gold savings technology functional for the Gold to Mecca and #GoldforNation initiatives.

Indonesian Hajj Brotherhood Association (IPHI)

Recently celebrating its 40-year anniversary, the Indonesian Hajj Brotherhood Association was established in 1983. The nationwide association boasts prominent figures, including the President and Vice President of Indonesia and former leaders within the Indonesian government.

The association is a forum for Hajj alumni from all over Indonesia to join upon returning from Mecca, with membership automatic for those that have performed the pilgrimage. In Indonesian culture, members of IPHI and Hajj alumni are respected, influential members of the community.

Inclusive gold investment​

The shariah-compliant nature of Kinesis gold-based savings programs will further drive gold adoption within the nation of Indonesia.

All Kinesis-powered applications within Indonesia are supported by the Sharia Supervisory Board (formed by the National Sharia Council). Therefore, the application enables Indonesia’s predominantly Islamic population to manage their wealth in debt and interest-free physical gold.

Kinesis in Indonesia​

The white-labelling of our application for IPHI is the latest of a series of strategic integrations with the Indonesian government. Kinesis will continue to build and progress integrations within the region, providing citizens across Indonesia with low-cost mobile access to the timeless value of gold bullion.

The swift implementation of Kinesis’ white-labelled solution to satisfy the needs of another nationwide organisation demonstrates the efficiency and promise of the model.

With the proven versatility of Kinesis technology, the scope for future integrations is near-limitless. The infrastructure is ready to deploy with those governments and organisations across the globe, seeking to provide greater economic stability and financial access.

See here: https://kinesis.money/company-news/kinesis-gold-savings-app-indonesia/

Bob Coleman would be rolling in his vault at this after his recent tweets

 

[TomL]

Bob Coleman would be rolling in his vault at this after his recent tweets

Bob Coleman and his outdated business model is being blown away on a new wind. Like the useless chaff that it is

 

[Maximus]

Would be great to find the use of this application being discussed in some Indonesian forum to shed light into it's adoption over time!

 

[AlM]

I thought I'd copy the thought here, too.


I had a thought last night. I know: unlikely, but true.

Ultimately it's for the Indonesian government to decide what financial information involving its citizens it wants released to investors or anyone else.

The government there will presumably apply its own data protection policies, not controlled by Kinesis, and this is likely expressed contractually. I would expect no detail to be released, just as I wouldn't expect any other private business to reveal the mechanics of its transactions.

That may actually have been an attraction of Kinesis: it's not one of the big integrators or consultancies, who park their 200 consultants on your lawn and never leave.

Other governments may be looking at privacy concerns: leaking citizens' financial details won't be popular in any country.

We can imagine what competitors could make of it and data leaks/breaches are all too common. We've been assured that every transaction contributes to the fee pool.

Maybe when the KVTs are tradable and more cash productive, these concerns will diminish.

 

[Uchiki]

Great.

We now have apps available for

• JFX
• MetalGO
• PosGold
• IPHI

with the following yet to come

• NUGold
• ICDX
• any more?

I suspect that many Indonesians will have the choice of more than one app to use KAU via this broad coverage.

I like the title Inclusive gold investment. A reflection that Kinesis is for everyone.

While the Sharia Supervisory Board is obviously key for Indonesia specific implementations, it's involvement should also help with discussions with other local Sharia boards further afield.

 

[Mattias]

I'm intrested to know, while all of the above apps are whitelabels with KAG and KAU as underlying assets if people will have the option to send and receive KAG & KAU amongst the different apps or if each app is a closed loop. I would assume the former but i have not seen how they operate.

 

[Uchiki]

I'm intrested to know, while all of the above apps are whitelabels with KAG and KAU as underlying assets if people will have the option to send and receive KAG & KAU amongst the different apps or if each app is a closed loop. I would assume the former but i have not seen how they operate.

I would think that they would be able to send/receive between apps.
It's possible that there are nuanced differences, but the apps are essentially all clones of the same app with different branding.

I'm fairly sure that only KAU has been mentioned to date with regard to Indonesia.