ANALYSIS OF IMPLEMENTATION PSAK 407 ON GOLD PAWN FINANCING AT ISLAMIC FINANCIAL INSTITUTIONS

Abstract

This study examines the implementation of PSAK 407 in gold pawn financing at Islamic financial institutions using a descriptive qualitative approach. Data were collected through interviews, observations, and relevant literature documentation. The results show that although PSAK 407 is effective in enhancing the transparency of gold pawn transactions, its implementation still faces challenges, such as inconsistencies in financial reporting and administrative costs that are not fully in accordance with Sharia principles. Key challenges also include a lack of staff understanding and inadequate record-keeping systems that do not support compliant reporting. Recommended solutions include ongoing staff training, regulatory improvements, and the adoption of technology to increase accuracy and efficiency. Collaboration between institutions and stronger regulatory support are also needed to ensure compliance with PSAK 407 and enhance public trust in the Islamic financial system in Indonesia.