2. Wealth Safeguarding (Secure Deposits)
In the dawn of civilization, “depositing” money had nothing to do with earning interest or growing wealth. It was entirely a matter of physical survival and security.
Temples as Vaults: Before the invention of fireproof steel safes, the most secure place to lock away gold and silver was inside religious temples. These sacred sites were heavily guarded, structurally fortified, and protected by spiritual taboos. Potential thieves rarely dared to anger the gods by robbing a temple.
Historical Footprint in Indonesia: In the Indonesian archipelago, formal institutional saving took root during the colonial era through the Postspaarbank (Postal Savings Bank). This historic institution laid the groundwork for what eventually evolved into Bank Tabungan Negara (BTN) today.
3. Credit Provision (Lending & Loans)
The concept of lending emerged when early asset custodians realized that stacks of gold sitting idle in a vault served no economic purpose. That wealth could be mobilized to generate more value.
Fueling Merchants and Agriculture: Capital pooled from wealthy nobles was channeled as loans to sailors, farmers, and traders who needed upfront funding for seasonal crops or hazardous maritime expeditions. Naturally, these loans were repaid with added interest to compensate for the risk.
The Archipelago’s First Bank: This credit model was officially introduced to Indonesia in 1746 with the establishment of Bank van Courant. As the very first bank in the East Indies, its primary function was to issue short-term loans secured by tangible collateral such as gold, silver, or valuable deeds.
