Inp.polri.go.id - Jakarta. The Financial Services Authority (OJK) has approved PT Pegadaian to engage in bullion-related activities, including gold deposits, gold-backed loans, corporate gold custody services, and gold trading. 

Damar Latri Setiawan, the President Director of PT Pegadaian, announced on Saturday (4/1/1024) that the company had been working for two years to secure this license and is now the first in Indonesia to receive it. 

Gold has long been a central part of the state-owned company’s business, particularly in its pawning services.

As of November 2024, PT Pegadaian’s gold pawn transactions reached Rp 230 trillion, with gold collateral totaling 92 tons and gold savings reaching 10.3 tons, according to antaranews.com.

The initiative aligned with the hopes of Minister of State-Owned Enterprises Erick Thohir, who envisioned a gold banking ecosystem to enhance public financial literacy and investment in gold. 

This move is also expected to optimize the gold industry, as Indonesia holds substantial gold reserves, which until now have been recorded as tonnage, not reflected in financial bank balances.

(mg/inp/pr/nm)