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Economy

What are the five functions of a pawnshop as a financial service institution?

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 What are the five functions of a pawnshop as a financial service institution?

The following are the five functions of pawnshops as financial service institutions

  1. Manage the distribution of loan money based on pawn law in an easy, safe, fast, and economical way.
  2. Creating and developing other profitable businesses for the pawnshop or the community.
  3. Fostering credit patterns so that they are directed and useful.
  4. Manage finances, equipment, staffing, education, and training.
  5. Conducting research and development as well as supervising pawnshop management.

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