- Qard (no interest loan)
- Wadi`ah Yah Dhamanah (savings with guarantee on the pawn items)
- Ujrah (safekeeping fees)
- Malaysian and non-Malaysian
- Permanent Resident
- Nota bankrupt
- 18 years old and above
- Free from riba
- No processing 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, coins 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 80% of the current market value of the jewellery (Marhun Value) and loan amount is up to RM100,000.
|CUSTOMER TYPE||LOAN LIMITATION (RM)|
New customer/existing customer who do not hold a Pawn Broking-i account.
65% of marhun's value or minimum of RM10,001.00 and maximum of RM100,000.00 for every pawn.
Existing customer that holds an active or settled Pawn Broking-i account without taking into account lapsed period.
Up to 80% of marhun's value or minimum of RM10,001.00 and maximum of RM100,000.00 for every pawn.
|Repayment Method||Loan Tenure|
- Extended maximum loan period of not more than 18 months period from the pawn date.
- Monthly instalment for the whole period.
- Monthly instalment or full settlement in six months or less.
- Safekeeping fee is calculated based on the marhun's value and pawn period
- 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)|
- Safekeeping fee calculation formula for Az-Zahab is as the same as the calculation for safekeeping for Ar-Rahnu.
- Safekeeping monthly fee calculation formula for Az-Zahab: a = (b + c) / 12
- Monthly instalment = a
- Loan amount = b
- Total amount of safekeeping fee = c
- Example of the calculation of the gradual payment for Safekeeping Fee of Az-Zahab:
- Jewellery value (marhun value): RM10,000.00
- Loan amount: RM6,500.00 (65% on marhun's value)
- Loan Tenure : 12 months
- Safekeeping fee : RM0.75
|PAWN BROKING-i AZ-ZAHAB GRADUAL PAYMENT|
10,000 x 0.65 / 100 x 12 x 365 / 365 = RM720.00
Safekeeping Fee = RM720.00
Total monthly instalment = RM6,000 + RM720.00 / 12months
Total instalment = RM560.00