Close
Personal
Business
Featured Image of Ar Rahnu, Islamic Pawn Broking (Tawarruq)
Financing

Ar Rahnu, Islamic Pawn Broking (Tawarruq)

Featured Image of Ar Rahnu, Islamic Pawn Broking (Tawarruq)

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

Product Benefits

Fully-Shariah compliant
Free from Riba’ (usury) and Gharar (uncertainty)
Fixed Profit Rate

Daily Gold Price

Effective Update: 13/06/2024 9:00 am

No Gold Standard ("Mutu Emas") Price per gram (RM)
1 750 299.40
2 835 333.33
3 875 349.30
4 916 365.67
5 950 379.24
6 999 398.80

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).

Ar Rahnu Calculator

Ar Rahnu, Islamic Pawn Broking (Tawarruq)

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
  • Improve customer experience by providing convenient online Ar Rahnu revaluation transaction without present at BMMB premise. Please refer below pdf attachment for further information on Ar-Rahnu Online Revaluation.
  • All branches can accept the gold bullion for pawning without opening the seal.

 

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 and Muamalat Gold-i account).

 

Acceptable Gold Collaterals
  • Gold/jewellery (without precious stone) of standards 750, 835, 875, 916, 950 and 999. Click Here for the list of branches.
  • 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”.
  • Muamalat Gold-i account (minimum allowable transaction is 10 grams and with multiple of every 10 grams i.e. 10 grams, 20 grams, 30 grams).

 

Please click the following links for further details:

 

Pawn Duration (Tenure of Financing)

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

 

Profit Rate

18 months,  subject to 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) Profit Rate Islamic Pawn Broking (Tawarruq): 11.25% p.a. d) Interest Rate Conventional Pawn Broking: 2% per month

 

Muamalat Ar-Rahnu (Tawarruq) Conventional Pawn Broking
Profit Rate = RM250 x 11.25% / 12
= RM2.34 per month
Interest Rate = RM250 x 2%
= RM5.00 per month
For Muamalat Ar Rahnu (Tawarruq), the profit charge is RM2.34 cheaper than conventional pawn broking.

 

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.

You might also be interested in

Ar-Rahnu Prestige, Islamic Pawn Broking (Tawarruq)
ASB
Chat with us on
WhatsApp
AUSTRALIAN DOLLARAUD3.2220003.0680003.052000
BRUNEI DOLLARBND3.5880003.4300003.419000
CANADIAN DOLLARCAD3.4900003.3650003.348000
SWISS FRANCCHF5.3860005.1520005.134000
EURO EUR5.2560004.9640004.942000
STERLING POUNDGBP6.1770005.9220005.913000
NEW ZEALAND DOLLARNZD3.0580002.8390002.824000
SINGAPORE DOLLARSGD3.5880003.4440003.443000
UNITED STATES DOLLARUSD4.8430004.5910004.574000

2024-06-13 08:48:21