JAKARTA - The Financial Services Authority (OJK) through a letter numbered S-325/PL.02/2024 approved Pegadaian to carry out bullion business activities which included gold deposits, gold working capital loans, corporate gold deposit services and gold trading.
President Director of PT Pegadaian Damar Latri Setiawan explained that his party had been trying to obtain a bullion business license for two years, and now Pegadaian is the first company to successfully obtain this business license in Indonesia.
He said that so far the gold commodity has indeed become the core of the company's business through the pawn business.
"It's been 123 years since Pegadaian has been present in the community, with various investments and the provision of various pawn products and non-gadai. Gadai as a businesscore, 90 percent is still dominated by gold pawns," he said as quoted by ANTARA, Saturday, January 4.
Damar said that until November 2024, the turnover from gold pawn transactions reached Rp230 trillion with gold collateral reaching 92 tons and gold savings balance reaching 10.3 tons.
"This is of course also supported by our subsidiary, Gallery 24. God willing, we are optimistic to carry out bulion business activities," he said.
Pegadaian's efforts are in line with the hopes of the Minister of State-Owned Enterprises (BUMN) Erick Thohir regarding the formation of a gold bank or bullion bank ecosystem as an effort to increase public financial literacy regarding gold investment.
This is considering that gold is a commodity whose price is relatively stable and even increases amid the uncertainty of the world's economy and geopoliticals.
In addition, he also hopes that the existence of Bulion businesses in Indonesia will optimize downstream gold as mining commodities.
Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia currently has a large gold reserve, but so far the gold stock has only been recorded as a tonnage without being included in the bank's balance sheet.
In addition, he said downstreaming in the Gresik Special Economic Zone (SEZ) could produce up to 60 tons of gold per year.
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