OJK Bali Refers 18 Illegal Pawnshops to Satgas PASTI
Denpasar (ANTARA) - The Financial Services Authority (OJK) Bali has referred 18 unlicensed or illegal private pawnshop business entities on the Island of the Gods to the Task Force for Eradicating Illegal Financial Activities (Satgas PASTI) for follow-up in accordance with legal provisions.
“Those that do not obtain permits and continue to operate will be addressed by law enforcement authorities, but first through Satgas PASTI,” said the Head of OJK Bali, Parjiman, in Denpasar, Bali, on Wednesday.
Initially, the financial services regulator found 19 private pawnshop companies that lacked business permits.
After persuasive efforts, only one company applied for and received its business permit. The remaining 18 private pawnshops, up to the deadline of 12 January 2026, have not fulfilled their licensing obligations for various reasons.
Nevertheless, the regulator had provided leniency to private pawnshop businesses operating at the regency/city level, including a paid-up capital of Rp500 million if the permit application is made before that deadline.
This provision aligns with OJK Regulation Number 29 of 2025, which amends OJK Regulation Number 39 of 2024 on Pawnshops.
This regulation is a derivative of the Law on the Development and Strengthening of the Financial Sector (P2SK) Number 4 of 2023, which provides three years for obtaining permits.
Once the permits are completed, the companies must increase their paid-up capital to a minimum of Rp2 billion by 12 January 2029.
Meanwhile, the Head of the Division for Supervision of Financial Services Institutions 4 at OJK Bali, Zulkifli, added that business permits are an essential part of consumer protection.
The types of unlicensed private pawnshops vary, from pawning electronic goods to gold.
His side has sent letters, made direct visits, and provided special facilities for obtaining permits, but responses remain minimal.
From field supervision, some unlicensed private pawnshops are closed, but others have relocated by operating from the business owners’ homes and may still be conducting pawnshop activities.
“So now we are handing it over to Satgas PASTI, which includes the National Police. So don’t be surprised if there are forced closures by law enforcement authorities because operating without a permit is illegal, it is not allowed, and it violates the law,” he added.