automotive

Pegadaian Receives Approval From OJK To Operate Bullion Business, Becomes New Year Gift

In welcoming the New Year 2025, PT Pegadaian received a special gift: permission to operate bullion business activities granted by the Financial Services Authority (OJK). This was confirmed through the Approval Letter for PT Pegadaian's Bullion Business Activities, numbered S-325/PL.02/2024. With this letter, Pegadaian can engage in various bullion activities, including Gold Deposits, Gold Working Capital Loans, Corporate Gold Custody Services, and Gold Trading.

The President Director of PT Pegadaian, Damar Latri Setiawan, expressed his appreciation for the OJK regulation, noting that Pegadaian had been waiting for two years to receive approval for this gold ecosystem business. Damar highlighted this achievement, stating that Pegadaian is the first company in Indonesia to obtain a bullion business license.

"Pegadaian has been part of the community for 123 years, continuously improving and offering various pawn and non-pawn products. Pawn services remain our core business, with 90% still dominated by gold pawns. Up to November, our transactions generated a revenue of 230 trillion, with gold collateral reaching 92 tons and Gold Savings totaling 10.3 tons. This success is also supported by our subsidiary, Galeri 24. We are optimistic about running the bullion business," Damar said.

Pegadaian's move aligns with a recent statement from the Minister of State-Owned Enterprises, Erick Thohir, in Jakarta about establishing a Gold Bank to enhance downstream activities. Erick expressed his hope that state-owned enterprises would collaborate to create a Bullion Bank in Indonesia, with PT Pegadaian as a key player.

Erick also emphasized the importance of a Bullion Bank in educating the public about gold investment. Meanwhile, Pegadaian is one of the financial services offering gold investment options, including its Gold Savings program.

The presence of Bullion Banks indicates that people are starting to recognize gold savings. We have Pegadaian and Islamic banks, and we are encouraging the community to begin saving in gold, said Erick.

Meanwhile, as reported by Bisnis Indonesia on November 7, 2024, the Deputy Minister of State-Owned Enterprises, Kartika Wirjoatmodjo, commonly known as Tiko, expressed support for Pegadaian to transform into bullion services or a gold ecosystem. Research shows that Pegadaian is ready to offer buying, selling, and other gold transaction services.

Pegadaian is seen as having the necessary infrastructure to become a bullion distribution institution, with 90% of its pawned collateral being gold, the largest international-standard gold storage facility in Indonesia, and a variety of gold products that enhance the gold ecosystem.

Tag: OJK Pegadaian