Did you know that the word “pawn” comes from the Latin word “pignus”, which means to pledge? Source: Giphy Pawnbroking was brought to our shores in the 19th century by the early Chinese immigrants, with the industry being largely dominated by the Hakkas. The earliest recorded history of the trade in Singapore was way back in 1872 when Lan Qiu Shan and a few partners opened a pawnshop called Sheng He Dang. During those times, pawnbrokers were seen as the “poor man’s bankers”. Ever since then, the industry has now grown to over 230 registered pawnshops, according to the Ministry of Law (MinLaw). Nowadays, pawnshops are patronised by white-collar workers and businessmen as well. And they are an essential part of the lending economy, other than the banks (such as personal loans and credit cards) and licensed moneylenders. In 2015, local pawnshops granted a total loan value of S$5.51 billion, which is no small amount!...