Click, Submit, Comply: Pawnshop Companies to Face Expanded Scope of Mandatory Approvals and Reports

In an effort to fulfil the mandate for pawnshop companies (“ Companies ”) regarding procedures for the submission of applications to secure licenses and approvals (collectively referred to as “ Applications ”), as addressed under Regulation of the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) No. 39 of 2024 on Pawn Businesses (“ Regulation 39/2024 ”), the OJK is currently preparing a Draft Circular on Electronic Licensing, Approvals and Reporting for Pawnshops (“ Draft Circular ”). [1]