BI to regulate gold pawning at sharia banks
It seems that Bank Indonesia (BI) plans to launch a regulation to limit the pawning of gold at sharia banks, as most of bank customers are inclined to use the service for speculation.
Three sharia banks—Bank Syariah Mandiri, Bank Rakyat Indonesia Syariah and Bank Negara Indonesia Syariah—want to end their gold-pawning services following the central bank’s move, being aware of the risks pawning gold carries.
The central bank’s new regulations will influence 137,272 customers who hold sharia pawning accounts.
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