Pegadaian Records Rp124 Trillion in Mortgage Receivables Ahead of Eid

JAKARTA - The Director of Finance and Strategic Planning of PT Pegadaian Ferdian Timur Satyagraha said the value of pawn receivables was IDR 124 trillion from the beginning of March until the eve of Eid al-Fitr 1447 Hijriah.

The trend of pawn activity from mid-Ramadan until the eve of Lebaran is relatively the same as the trend of pawn activity during the eve of Ramadan until the beginning of Ramadan.

"Since the beginning of March until the eve of Lebaran, in which within two weeks, the total value of receivables reached Rp. 124 trillion with a growth of two percent or around Rp. 2.4 trillion from February," said Ferdian Timur Satyagraha as reported by ANTARA, Thursday, March 19.

He said the increase showed that pawn services were one of the main options for meeting people's liquidity needs during Ramadan until Eid al-Fitr.

He is also optimistic that pawn activities will continue to increase during the Idul Fitri holiday period, in line with the need for H Day celebrations and post-Eid.

Ferdian stated that gold and jewelry, vehicles, and electronic devices are the most commonly used collateral by customers.

He said that gold and jewelry as well as electronic devices are often the choice for obtaining pawn financing.

"Meanwhile, for vehicles, they are often mortgaged because some segments of the community who return home or travel do not go through land routes during the Lebaran period have entrusted Pegadaian to take care of vehicles during the homecoming period," he said.

Ferdian revealed that Surabaya, Makassar, and Jabodetabek became the regions with the highest value of pawn financing throughout Ramadan this year.

This is because the three regions have a large need for funding, especially through gold pawns.

"PT Pegadaian has anticipated a surge (of pawn activity) by ensuring the company's ability to meet public demand, such as the company's liquidity readiness, attractive promotional programs, strengthening credit scoring and customer profiling, improving TRING! digital services, and securing outlets during the Lebaran holiday," he said.