Proposal

Introduction

“Diamonds are a girl’s best friend, this is statement that many people normally say but in reality the items made from gold are the truly friend of Malaysian women of any race such as Malay, Chinese, Indian and soon (Azizah, 2012). As we know, gold jewelry has taken on many important roles in the lives of their owners, such as showing off the style of a woman and gives them an exclusive image of a woman’s high status. Besides, many people keep this word with them, the more gold they have, and then the richer they are. In the other part, gold is also shown as an asset held to be good, because it has a very stable value and is widely accepted by many people in terms of cash value. This gold also can become capital or as an item of exchange when the cash is needed quickly by some people. Gold can be exchanged for number of money quickly and it can be redeemed after a specified time. This is where the role of the pawnbroker becomes very important to the person who needs them. Pawnshops have been in operation since a long time ago (Awang and Safriya, 2004). They are very popular among society especially low and middle income groups. Basically, most customers who go to pawnshops are the group of people who had little or no cash, and those people work for themselves, found it is difficult to get loans approval from bank and other financial institutions. Therefore, pawnshop is one of the financial assistance to get cash money quickly and easily. Generally, pawn broking can be divided into two categories namely conventional pawn broking and Islamic pawn broking. According to Azizah Othman, conventional pawn broking system was well known for allowing anyone and everyone to borrow money quickly. However, the conventional pawn broking system has several bad faults such as high services charges, an element of interest, and pawn broking practices that were not totally fair (Azizah, 2012).Because of this matter, to help the society from this problem, an...