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Ar Rahnu

Ar Rahnu is an Islamic pawn broking scheme using the Shariah compliance of Al-Qardh and Ar-Rahn which allow gold jewellery items adopted as collateral for cash loans.

Concept

The Bank will keep gold jewellery as collateral and charge storage wages for storage services. The Bank will provide loans to customers where the amount granted will be evaluated based on the current market price of gold. Total loans and advances however, is lower than the value of the gold depending on the loan margin (%) determined by the Bank and the types of jewellery. Gold jewellery storage period and storage wages are determined in advance and agreed to by both parties (the Bank and the Customer).

Ar Rahnu Video

Download Product Disclosure Sheet:

AR-RAHNU (ENGLISH)

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Product Criteria

Eligibility Criteria

Open to all Malaysian citizens and permanent resident

Aged 18 years old to 70 years old

Type of Gold jewellery jewellery grade : 999 , 950 , 916 , 875 , 835 and 750 (gemstone excluded)
Margin Loans

Maximum: Up to 80 % of the current market value of jewellery

Market value is based on the type of gold pawned.

Period of charges and extended period

Period Charge

6 months

 

Extension

May be extended for a period of 6 months should keep wage payments have been paid in full.

* Subject to change

Disclosures prescribed (%) Bank will make a re-assessment of the price of a security based on current gold prices. If the amount of the loan balance exceeds the prescribed amount of exposure that is 90 % of the price of gold during the extended time period, the customer is required to pay the difference between the outstanding loan amount and the total exposure to the customer's current loan balance does not exceed the prescribed amount of exposure
Payment Method Pawner can pay this loan in instalments or 6 months or reclaim the goods pawned jewellery in a lump sum on or before the maturity date together with wage savings.

Fee & Charge

Customers needs to pay monthly storage fee for the service by the Bank of gold jewelery and related charges (if any). Fee to be charged is according to the current value of the pledge (Marhun) when secured.

Marhun Value Wage for every RM100
RM100 - RM2,000 RM0.50
RM2,001 - RM5,000 RM0.60
RM5,001 and above RM0.75

Ar Rahnu Tender

No Branch Exhibition Period Date Duty Officer Telephone No.
1  LANGKAWI  05.04.2017 - 11.04.2017 SALIZAN BIN SAAD  04 - 9666 931
2  MIRI  06.04.2017 - 12.04.2017 WILLIAM ULUI  012 - 8525 860
3  JERTEH  09.04.2017 - 13.04.2017 ARIFIN BIN JAAFAR  09 - 6971 261
4  LAHAD DATU 25.04.2017 - 01.05.2017 ROSNAH KARIM  089 - 882561 / 62
5  TRIANG  10.04.2017 - 14.04.2017 SITI NURUL HUDA BINTI ABD HAMID  09 - 255 8570
6  BALIK PULAU  10.04.2017 - 14.04.2017 ABU MANSOR BIN EMBED  04 - 8666 021
  7  KANGAR  10.04.2017 - 14.04.2017 MOHAMMAD SHUHAIMI BIN ABD AZIZ  04 - 9768 479
 8  KAJANG  10.04.2017 - 15.04.2017 NORREHA BINTI ISMAIL  03 - 8736 6337 / 9364
 9  SETIAWAN  12.04.2017 - 19.04.2017 SITI HAWA BINTI WAN DIN 05 - 6917 490 / 487
10   JASIN 17.04.2017 - 21.04.2017 CIK MASNI BT ABDUL GHANI  06 - 5295 324
 11 KLUANG  17.04.2017 - 21.04.2017 ZURAINEY BINTI MISNI / NOORANI BINTI AMRAN  17 - 7721 800 / 7722 436
 12 KLANG   17.04.2017 - 21.04.2017 NURLIZATULIZ YAHYA ARIFF  03-3342 8212
 13  TELUK INTAN  20.04.2017  - 27.04.2017 SHAFIE BIN AHMAD MANSOR  05 - 6226 816 / 644
 14  BAGAN SERAI  28.04.2017 - 05.05.2017 NOOR HANIDA BINTI BAHARIM  05 - 7215 376 / 377
 15  SHAH ALAM  25.04.2017 - 01.05.2017 NOOR FAEZAH BINTI MOHD YUSAK  03 - 5519 8250 / 8433
         
         
         


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