OJK North Sumatra grants final opportunity for private pawn shops to obtain business licences

Medan - The Financial Services Authority (OJK) of North Sumatra Province has granted private pawn shop operators in the region an opportunity to apply for business permits.

“We are providing a final opportunity for pawn shop operators who have not yet obtained OJK licensing to handle their permits immediately in early this year,” said Khoirul Muttaqien, Head of the OJK North Sumatra Provincial Office, in Medan on Thursday.

Muttaqien stated that pawn shop operators without current licences will be granted facilitations, exemptions, and specific policies during the permit application process.

He added that should pawn shop operators fail to obtain licences by the specified deadline, they will be required to close their operations.

The OJK North Sumatra recorded improved performance in the pawning sector in December 2025. Loan disbursements rose 109.99 per cent to Rp135.39 billion compared with the same period in the previous year.

In terms of assets, December 2025 also saw an increase of 114.61 per cent to Rp227.84 billion year-on-year.

Meanwhile, micro-financial institutions recorded assets of Rp13.82 billion, or an increase of approximately 20 per cent, with financing reaching Rp9.20 billion, or growing 33.01 per cent year-on-year.

Separately, venture capital companies in December 2025 recorded total financing up 52.25 per cent. For fintech peer-to-peer (P2P) lending, outstanding loans increased 34.01 per cent, whilst financing companies saw receivables rise 1.47 per cent.