40 Under 40 The Vanguards: Muhammad Assad
Back to list

Muhammad Assad

Co-Founder and CEO

Muhammad Assad is a co-founder and CEO of Tamasia, which claims to be Indonesia’s largest digital gold platform, 100 percent backed by physical gold. To strengthen customer trust, the firm has agreed a partnership with state-owned mining company Aneka Tambang (Antam).
“The idea of creating Tamasia (Tabungan Emas Indonesia) came when I was pursuing my Master’s degree in Islamic Finance at Hamad bin Khalifa University in Qatar,”
Assad says. “I saw that middle class people are still very keen on gold as a safe haven investment, just like my mother and grandmother. Whenever they have some
extra money, they always buy gold.
“When I came back to Indonesia, I saw that the market was huge. We started in 2018 as a digital platform for buying and selling gold in a most safe and sharia way. Basically, we provide solutions for all, accepting investments as small as Rp 10,000. Tamasia is a one-stop platform where clients can do their transactions on their smartphones, anytime and everywhere.
“Starting a business at a young age was worth the blood, sweat and tears,” he says. “I had previously worked as a banker and people me told that having my own business was an easy choice. But it’s not easy at all! When I jumped in, it was a real battle. But my parents always told me to always stay positive, be persistent in working and never forget to pray. And today, we have gained hundreds of thousands of customers and we’re still growing.”

_______________________________________________________

Photographed by Sunaryo
<strong>40 UNDER 40: THE VANGUARDS LIST IS PRESENTED BY SULWHASOO, AS PUBLISHED IN PRESTIGE INDONESIA OCTOBER 2019 ISSUE.</strong>