Receivables Value Rises to Rp124 Trillion Ahead of Eid, Here Are the Top 3 Contributing Regions

Finance and Strategic Planning Director of PT Pegadaian, Ferdian Timur Satyagraha, stated that the company recorded pawn receivables worth Rp124 trillion from early March until just before Eid al-Fitr 1447 Hijriah. He noted that the trend in pawn activities from mid-Ramadan to the approach of Eid is relatively similar to the trend leading up to and at the start of Ramadan. “From early March until leading up to Eid, over a two-week period, the total receivables value reached Rp124 trillion, with a 2% growth or around Rp2.4 trillion from February,” said Ferdian Timur Satyagraha when contacted by ANTARA from Cilacap, Central Java, on Thursday. He explained that this increase indicates that pawn services have become one of the primary options for meeting the public’s liquidity needs during Ramadan through to Eid al-Fitr. He is also optimistic that pawn activities will continue to rise during the current Eid holiday period, in line with needs for the main holiday celebrations and post-Eid. Ferdian stated that gold and jewellery, vehicles, and electronic appliances are the items most frequently used as collateral by customers. He said that gold and jewellery, as well as electronic appliances, are often chosen to obtain pawn financing. “Meanwhile, vehicles are frequently pawned because certain segments of society who are travelling home or going on trips not via land routes during Eid have entrusted Pegadaian to look after their vehicles during the homecoming period,” he added. Ferdian revealed that Surabaya, Makassar, and Jabodetabek are the regions with the highest values of pawn financing applications throughout this year’s Ramadan. This is because these three areas have significant funding needs, particularly through gold pawn. “PT Pegadaian has anticipated the surge (in pawn activities) by ensuring the company’s capacity to meet public demand, such as company liquidity readiness, attractive promotional programmes, strengthening of credit scoring and customer profiling, enhancement of TRING! digital services, and securing outlets during the Eid holidays,” he said.