Preparing Rules For Bullion Business, OJK Asks For Public Input

Gold (Photo: Antara)

JAKARTA - The Financial Services Authority (OJK) stated that the OJK (POJK) regulations regarding the gold bank proposed by Pegadaian are still in the stage of collecting input from the public.

"Yes, that's right, we are preparing OJK regulations regarding the bullion business. Now (the development of POJK, Pegadaian gold bank) is asking for input from the public," said OJK Chief Executive Supervisory of Financing Institutions, Ventura Capital Companies, Micro Financial Institutions, and Other Financial Services Institutions (PMVL) Agusman quoting Antara.

Agusman said that currently his party is preparing POJK related to the gold bank. The regulatory preparation process is still in the stage of asking for input from the public.

According to him, this POJK is seen as an important step in carrying out the mandate of the Law on the Development and Strengthening of the Financial Sector (UU P2SK) Number 4 of 2023.

However, Agusman has not provided further information regarding the exact time or schedule regarding the ratification of the POJK for the Pegadaian gold bank.

"The point (of the POJK) is that we are preparing it, including by asking for input from the public. If there is an update, we will inform you later, so that the wider community can know," said Agusman.

Previously, President Director of PT Pegadaian Damar Latri Setiawan said that his party was currently waiting for the Financial Services Authority (POJK) regulations regarding the implementation of gold bank services or bullion service.

Damar said that although there was already a Law on the Development and Strengthening of the Financial Sector (UU P2SK) Number 4 of 2023, his party was still waiting for the regulation from the OJK to regulate it.

"So, the bullion service, we said it was not a bullion bank, but a bullion service, at this time we are waiting even though there is a P2SK Law Number 4 of 2023," said Damar in Jakarta, Tuesday (6/2).

However, Pegadaian has tested the system for their plus savings services. This system allows customers to save in gold and then get a margin of gold stored.

Damar explained that with the proceeds from the gold savings, Pegadaian can provide gold loans to those in need.

Thus, both manufacturers and individuals who need gold can get gold loan services from Pegadaian.

"Then, from the savings proceeds, we can provide a gold loan. So, the issue of manufacturers or people who need gold can come to Pegadaian to borrow gold and pay in gold again," explained Damar.