Bank Muamalat Malaysia Berhad

Ar Rahnu

Daily Gold Price

Effective Update: 17 Jan, 2020

No	Gold Standard ("Mutu Emas")	Price per gram (RM)
1	750	173.22
2	835	192.85
3	875	202.09
4	916	211.56
5	950	219.41
6	999	230.73

Encash your gold items and get an immediate fund today with Muamalat Ar-Rahnu. Muamalat Ar-Rahnu offers a high margin of advance up to 80% (New and Existing Customers) of the pledged gold value with a low safekeeping fee. It is also based on four Shariah concepts Qard (loan), Wadiah Yad Dhamanah (safekeeping/deposits with guarantee), Ujrah (fee) and Rahn (pawnbroking).

Applicant Eligibility

Open to all Malaysian citizens and Permanent Residents, aged 18 and above
Not declared a bankrupt

Benefits

Fully-Shariah compliant product
Free from Riba’ (usury) and Gharar (uncertainty)
Low safekeeping fees
High margin of advance
Fast, easy and secure
Gold cleaning service

Loan Margin

Up to 80% margin of advance from gold value or maximum loan amount of RM1,000,000 (RM500, 000 for gold jewelry, gold coin, dinar and gold bar, as well as another RM500,000 for Perth Mint gold bar); whichever is lower

Aceeptable Gold Collaterals

Gold/jewelry (without precious stone) of standards 750, 835, 875, 916, 950 and 999.
Accept all types of gold bars/bars/coins/ wafers of standards 916, 950 and 999 from all goldsmiths, institutions, authorized distributors except those blacklisted by Bank Negara Malaysia (BNM), “Consumer Alert”, “Fraud Alert” and “SC Security Alert”.

Please click the following links for further details:
http://www.bnm.gov.my/documents/2018/FCA_20180531_EN.pdf
https://www.sc.com.my/list-of-unauthorised-websites-investment-products-companies-individuals/

Pawn Duration

6 months with maximum of 2 times extension of 6 months; subject to full settlement of the previous Ar Rahnu safekeeping fee.

Safekeeping Fees Rate

Gold Value	Monthly Safekeeping Fee (For every RM100 Gold Value)
Up to RM1,000	RM0.65
RM1,001 – RM5,000	RM0.75
RM5,001 and above	above RM0.85

Comparison On The Calculation Of Safekeeping Fee For Muamalat Ar Rahnu And Conventional Pawn Broking

Example
a. Gold value : RM1,000
b. Loan : RM800
c. Safekeeping fee : RM0.65 of every RM100 based on RM1,000 gold value
d. Duration : 6 months
Calculation of safekeeping fee for Muamalat Ar Rahnu :
Safekeeping fee = a x (c/100) x 12 x 183/365
Calculation of safekeeping fee for conventional pawn broking:
Safekeeping fee = b x 2% x 6

Muamalat Ar Rahnu	Conventional Pawn Broking
Safekeeping fee = RM1,000 x 0.65/100 x 12 x 183/365 (6 months) = RM39.10	Safekeeping fee = RM800 x 2% x 6 months = RM96.00
Comparison of 6-month safekeeping fee : Conventional Pawn Broking = RM96.00 Muamalat Ar Rahnu = RM39.10 Difference = RM56.90

Installment Payment

Payment for safekeeping fee and loan can be made at our branches, ATM, CDM and Internet Banking

Pawn Redemption

Redemption can be done in deferred or lump sum payment before or upon maturity

How To Apply

Fill up the Ar-Rahnu application form
Bring along your original identification card (NRIC) and gold item(s) to be pledged

Ar Rahnu

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Muamalat Ar-Rahnu

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