Ar-Rahnu

http://aibim.com/content/view/2353/77/

|Ar Rahnu -- An Alternative And Easy Source Of Credit |[pic|[pic|

| |] |] |

|Monday, 14 December 2009 |

|KUALA LUMPUR, (Bernama) -- Mention pawnbroking and you will imagine the destitute who use this service to raise money. But Bank Rakyat plans|

|to remove this stigma attached to the industry by promoting the Islamic concept of pawnbroking called Ar-Rahnu through its wholly-owned |

|subsidiary Rakyat Management Services Sdn Bhd. |

|Ar-Rahnu was introduced as an alternative and easier source of credit, with gold as collateral in exchange for cash. It ensures privacy for |

|the customer as against the conventional pawnshop, which handles the business openly. |

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|"This system (Ar-Rahnu) provides for transparency, privacy and security," Mohamad Sabri Nor, general manager of Rakyat Management Services, |

|told Bernama recently. |

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|"It can also turn borrowers away from Along (loan sharks) or unlicensed pawnbrokers," he said after giving a talk on the Ar-Rahnu scheme |

|managed by Rakyat Management Services at Bernama's Centre of Excellence recently. |

|...