Bank Muamalat Malaysia Berhad

Ar Rahnu, Islamic Pawn Broking (Tawarruq)

Daily Gold Price

Effective Update: 24 Mar, 2020

No	Gold Standard ("Mutu Emas")	Price per gram (RM)
1	750	179.52
2	835	199.87
3	875	209.44
4	916	219.25
5	950	227.39
6	999	239.12

Pawn your gold items and enjoy immediate financing of up to 80% of the pledged gold value with Islamic Pawn Broking under Muamalat Ar Rahnu (Tawarruq).

Enjoy fixed profit rate of 11.25% p.a (0.9375% monthly) based on financing amount and a tenure up to 18 months.

Islamic Pawn Broking is an Islamic Pawn Broking scheme based on the Shariah concept of Tawarruq (commodity Murabahah) and Rahn (Pawn broking).

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)
Fixed Profit Rate on the financing amount
No early redemption charges
High margin of advance
Fast, easy and secure
Gold cleaning service

Financing Margin

Up to 80% margin of financing from gold value

Financing Limit

Maximum financing amount of RM1,000,000 (RM500,000 for gold jewellery, gold coin, dinar gold bar, as well as another RM500,000 for physical Muamalat Gold-i (Perth Mint) Gold Bar).

Acceptable Gold Collaterals

Gold/jewellery 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:
CONSUMER ALERT & UPDATES
LIST OF UNAUTHORISED WEBSITES / INVESTMENT PRODUCTS / COMPANIES / INDIVIDUALS

Pawn Duration (Tenure of Financing)

18 months, subject to profit servicing to be paid every 6 months.

Profit Rate

11.25% p.a. on the margin of financing or 0.9375% monthly.

Comparison On The Calculation Of Profit Rate as Opposed To Safekeeping Fee

Example
a. Gold value : RM1,000
b. Loan/Financing : RM800 (however customer request for RM250)
c. Safekeeping fee Muamalat Ar Rahnu (Qard) : RM0.65 of every RM100 based on RM1,000 gold value
d. Profit Rate Islamic Pawn Broking (Tawarruq): 11.25% p.a.
e. Interest Rate Conventional Pawn Broking: 2% per month

Islamic Pawn Broking (Tawarruq)	Muamalat Ar Rahnu (Qard)	Conventional Pawn Broking
Profit Rate = RM250 x 11.25% / 12 = RM2.34 per month	Safekeeping fee = RM1000/100 x 0.65 = RM6.50 per month	Interest Rate = RM250 x 2% = RM5.00 per month
For Islamic Pawn Broking Muamalat Ar Rahnu (Tawarruq), the financing charge is RM2.34 cheaper than standard Muamalat Ar Rahnu (Qard) and conventional pawn broking schemes.

Payment

Payment for profit-servicing and financing 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, Islamic Pawn Broking (Tawarruq)

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Muamalat Ar-Rahnu (Tawarruq)

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