TEMPO Interactive, Jakarta:The volatile gold prices and the widespread practices of gold pawning in the banking sector have concerned Bank Indonesia. The central bank has reminded sharia banking to be careful in financing gold pawning. “Basically, it is allowed, but it has to comply with the guidelines,” said Bank Indonesia Deputy Governor Halim Alamsyah on Monday.
Many banks suspended their gold pawning services after gold prices declined within the last month. Precious metal price at the PT Aneka Tambang is now only IDR 495,000 per gram after hitting IDR 515,000 per gram. (source)
Many banks suspended their gold pawning services after gold prices declined within the last month. Precious metal price at the PT Aneka Tambang is now only IDR 495,000 per gram after hitting IDR 515,000 per gram. (source)
Halim added that the sharia bank must follow the guidelines considering the highly fluctuant gold prices. In order to clarify the regulations, according to Halim, the Bank Indonesia will prepare rules on gold pawning. However, the deputy governor refused to specify the regulations planned.
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