JAKARTA (TheInsiderStories) - Indonesian Financial Services Authority (OJK) has issued a regulation (POJK) No. 31/POJK.05/2016 that bans foreign investors to engage in pawnshop business. Based on the regulation, formally issued on July 29, 2016, foreign investor may only engage in pawnshop if it is floated its shares on the Stock Exchange. Currently, pawnshop business is dominated by state owned pawnshop company PT Pegadaian (Persero). However, recently smalll and medium companies have also entered the business, prompting the public to call on the government to regulate the pawnshop business in order to protect consumers’ interest. (*)
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