"The business in sharia-based pawnshops is flourishing growing by around 70 percent per year compared to a growth of 40 percent for business in conventional pawnshops," General Manager of PT Pegadaian Suhardjo said here.
The revenue from sharia pawnshops makes up around 10 percent of the total revenues of PT Pegadaian, Suhardjo said here on Tuesday.
He cited the company`s outstanding loans totaled Rp26 trillion and Rp2.6 trillion of which are in sharia based pawning.
He said so far the company has only 135 sharia-based units in 500 regencies or cities in the country.
The number will be increased this year, he said, adding there will be 70 new units this year including 20 units already in operation in the first half of the year.
He said based on data Pegadaian had 160 branches and 4,390 representative units including 600 sharia-based unit in the country by July 2012.
Aceh the Islamic strong hold has the largest number of sharia-bases pawnshops , he said, adding all branches and offices of PT Pegadaian in that province have been converted into ones based on sharia law.