OJK Allows PT Pegadaian To Run Gold Bank Business

JAKARTA - The Financial Services Authority (OJK) has officially granted permission to PT Pegadaian (Persero) to run a business as a gold bank or bullion bank.

OJK gave permission to Pegadaian through an approval letter for the Implementation of Bulion Business Activities PT Pegadaian with letter number S-325/PL.02/2024.

As a gold bank, Pegadaian can carry out bulion business activities which include gold deposits, gold working capital loans, corporate gold deposit services, and gold trading.

Chief Executive of the Supervision of Financing Institutions, Venture Capital Companies, Micro Financial Institutions, and Other Financial Services Institutions (KE PVML) Agusman said that the implementation of Bulion business activities by Financial Services Institutions (LJK) is regulated in POJK Number 17 of 2024 concerning the Implementation of Bulion Business Activities.

"OJK has approved the implementation of Bulion business activities by PT Pegadaian (Persero) through letter number S-325/PL.02/2024 dated December 23, 2024," he said, quoted on Sunday, January 12.

The provisions regarding important aspects related to the management and supervision of the implementation of bulion business activities for PT Pegadaian (Persero) are regulated, among others, in POJK Number 39 of 2024 concerning pawnshops and POJK Number 42 of 2024 concerning the Implementation of Risk Management for PVML and POJK Number 48 of 2024 concerning Good Governance for PVML, which also applies to PT Pergadaian (Persero).

"So it is hoped that PT Pergadaian (Persero) can run a Bulion business in accordance with applicable regulations, and continue to maintain transparency and accountability in its management," he said.

Previously, the President Director of PT Pegadaian, Damar Latri Setiawan welcomed the OJK regulation, considering that in the last two years Pegadaian has been waiting for his blessing to be able to carry out the gold ecosystem business.

According to Damar, this is an achievement, where Pegadaian became the first company to successfully obtain a Bulion business license in Indonesia.

"It's been 123 years since Pegadaian has been present in the community, with various improvements and the provision of various pawned and pawned products. Gadai as a core business, 90 percent is still dominated by gold pawns," he said.

"More or less transactions until November resulted in turnover of Rp230 trillion, with gold collateral reaching 92 tons, as well as Gold Savings balances 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 continued.