Hahw

• Pawnshops


  • The presence of many persons inside a pawnshop is a reflection of the great demand for small loans
  • Many individuals who have run out of cash for basic consumption or emergency needs have been saved from financial troubles by pawnshops
• Pawnshops


  • "Agencia De Empenos in Spanish or Bahay Sanglaan in Pilipino" is one of the easiest and most convenient sources of credit
  • They provide an additional source of credit, especially to small borrowers who are not qualified to obtain small loans from other financial institutions
• Presidential Decree No. 114, otherwise known as the Pawnshop Regulation Act, was issued to take effect immediately


  January 29, 1973
• Central Bank Circular No. 374 (Rules and Regulations for Pawnshops) was issued by the Monetary Board to implement the mandates of PD. No. 114


  July 13, 1973
• OBJECTIVES OF PD 114

  1. To regulate the establishment of pawnshops and to place their operation on a sound and stable basis to derive the optimum advantages from them as an additional source of credit.
  2. To prevent and mitigate, as far as practicable, practices prejudicial to public interest.
  3. To lay down the minimum requirements and standards under which they may be established and do business.