Implementation of sharia principles in gold pawnbroking in Indonesia: Compliance, cost mechanisms, and impact on financial inclusion
Keywords:
cost mechanism, digital service, financial inclusion, gold pawnbroking, sharia complianceAbstract
Background: Sharia gold pawnbroking has become an important source of short-term liquidity in Indonesia, particularly for low-income groups, informal workers, and MSMEs with limited access to formal banking services. This study examines its implementation through three interconnected dimensions: Documented sharia compliance, published cost structures and transaction mechanisms, and indicators of financial-service access and utilization. Methods: This study employed a qualitative document analysis design using DSN-MUI fatwas, OJK regulations, institutional contracts, Sharia Supervisory Board documentation, product and digital-service information, cost simulations, tariff disclosures, and publicly reported service-use data. Data were analyzed through content analysis, comparative analysis, and thematic interpretation across regulatory, institutional, and public or sectoral sources. Findings: The findings indicate substantial documentary alignment between sharia and regulatory requirements and the formal operational arrangements disclosed by service providers. Published information on mu'nah or ujrah, tariffs, transaction terms, and cost simulations demonstrates the visibility of key cost components. Customer, digital-transaction, application-use, Rahn-transaction, and financing indicators also suggest substantial service reach and utilization. However, these indicators primarily reflect access and service use rather than customer trust, household financial well-being, or long-term economic resilience. Conclusion: Effective governance of sharia gold pawnbroking depends on the alignment of normative requirements, transparent operational mechanisms, and accessible service delivery. Stronger cost disclosure, digital contractual transparency, independent sharia verification, and consumer protection may support more sustainable financial access. Novelty/Originality of this article: This study proposes an integrated three-dimensional framework linking normative sharia compliance, operational cost transparency, and service access and utilization while distinguishing their different evidentiary roles.
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