- Qard (interest free loans)
- Wadi`ah Yah Dhamanah (savings with guarantee on the pawn items)
- Ujrah (safekeeping fees)
- Malaysian and non-Malaysian
- Permanent Resident
- Not a bankrupt
- 18 years old and above
- Free from riba
- No process fees
- Safekeeping fee is calculated daily
- Longer pawn period
- Jewellery kept safely under Takaful protection
- Transparent business deal and transaction is performed in a dedicated room with the customer present
- Any type of jewellery/gold EXCLUDING pawn item that in the form of religious symbol or living creatures.
- Gold bar, wafer, coin or gold nuggets(MUST include purchase receipts or certificate of authenticity).
- Gold items rewarded by an employer to their employee in service with the condition that:
- The employee needs to present the Certificate of Appreciation.
- Gold quality is between 22 to 24 carat
- Maximum weight is 300 grams.
- Maximum margin of loan is up to 70% of the current market value of the jewellery (Marhun Value).
- Total daily/ accumulative loan limit is up to RM350,000
- Total daily loan for hollow jewellery is up to RM30,000
|CUSTOMER TYPE||LOAN LIMITATION (RM)|
New customer/existing customer whodo not holda Pawn Broking-iaccount.
65% of marhun's value or minimum of RM1.00 and maximum of RM10,000.00 for every pawn.
Existing customer that holds an active or settled Pawn Broking-i account without taking into account lapsed period.
Up to 70% of marhun's value or minimum or RM1.00 and maximum of RM10,000.00 for every pawn.
- Loan tenure is from 6 months to 36 months.
- Extended maximum loan periodof not more than 18 months period from the pawn date.
- Payment can be made in full or gradually.
- Safekeeping fee is calculated based on the marhun's value and pawn period (montly rest).
- Minimum safekeeping fee is equal to a half month rate that will be imposed on the pawn item that is redeemed within 15 days.
- Safekeeping rate are as follows:
|PRODUCT||FINANCING LIMITS (RM)||FINANCING MARGIN||SAFEKEEPING RATE FOR EVERY RM100.00 ON MARHUN VALUE PER MONTH (RM)|
|Ar-Rahnu||Up to RM1,000.00||65%||0.65|
|> 1,001.00 - 10,000,00||65%||0.75|
- Safekeeping fee calculation formula for Ar-Rahnu: a = b x c/100 x 12 x d/365
- Safekeeping fee = a
- Marhun value = b
- Safekeeping rate = c
- Loan tenure = d
- The calculation for Pawn Broking-I Ar-Rahnu Safekeeping compared to Conventional Pawn Broking are as follows:
- Jewellery value (marhun value): RM1,000
- Loan Amount: RM650
- Loan Tenure : 6 months / 180 days
- Safekeeping fee : RM0.65
|PAWN BOOKING-i AR-RAHNU||PAJAK GADAI KONVENSIONAL|
1,000 x 0.65 / 100 x 12 x 180 / 365 = RM38.47
Safekeeping Fee = RM38.47
Total Redeemed = RM650.00 + RM38.47
Total Redeemed = RM688.47
650 x 2% x 6 = RM78.00
Safekeeping Fee = RM78.00
Total Redeemed = RM650.00 + RM78.00
Total Redeemed = 728.00