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ALAL--RAHNURAHNU

Al Al RahnuRahnu

�� A valuable item is A valuable item is collaterisedcollaterised to a debt to a debt

which may be which may be utilisedutilised as payment should as payment should

the debt is not repaid within the agreed the debt is not repaid within the agreed

period.period.

��

Historical BackgroundHistorical Background

�� 1. 1. MuassasahMuassasah GadaianGadaian Islam Islam TerengganuTerengganu

1992.1992.

�� 2. 2. KedaiKedai AlrahnAlrahn PerbadananPerbadanan KelantanKelantan BerhadBerhad

1992.1992.

�� 3. 1993. Ministry of finance3. 1993. Ministry of finance-- Al Al RahnuRahnu SchemeScheme

�� BNM, YPEIM and Bank BNM, YPEIM and Bank RakyatRakyat

�� 4. 20044. 2004-- RM900 million with 1 million RM900 million with 1 million

customers.customers.

�� 5. 20055. 2005-- 156 156 AlrahnuAlrahnu outlets throughout outlets throughout

Malaysia.Malaysia.

ConceptConcept

�� 1. 1. QardhulQardhul HasanHasan

�� 2. Al2. Al--RahnuRahnu

�� 3. 3. AlwadiahAlwadiah

AlAl--RahnuRahnu PrinciplesPrinciples

�� 1. The borrower (1. The borrower (rahinrahin) should submit the item ) should submit the item

to lender (to lender (MurtahinMurtahin).).

�� 2. The item must be lawful2. The item must be lawful

�� 3. 3. RahinRahin must pay the loan and must pay the loan and murtahinmurtahin to to

return. If no payment, return. If no payment, murtahinmurtahin may recover the may recover the

loan and return the surplus.loan and return the surplus.

�� 4. 4. MurtahinMurtahin is responsible for the item.is responsible for the item.

�� 5. If 5. If rahinrahin dies, dies, murtahinmurtahin will get privilege will get privilege

amongst the lenders.amongst the lenders.

Regulatory FrameworkRegulatory Framework

�� 1. 1. AktaAkta KoperasiKoperasi 1993.1993.

�� 2. 2. AktaAkta KeselamatanKeselamatan dandan KesihatanKesihatan PekerjaPekerja

�� 3. 3. AktaAkta TimbangTimbang dandan SukatSukat

�� 4. 4. AktaAkta Bank Bank RakyatRakyat 1978.1978.

�� 5. 5. AktaAkta Bank Bank PembangunanPembangunan 20022002

�� AlAl--rahnurahnu is not governed by the Pawn is not governed by the Pawn

Broking Act 1972.Broking Act 1972.

Only Only rahinrahin or or wakilwakilRedemptionRedemption-- anyone anyone

with receiptwith receipt

QardulQardul HasanHasan+ + wadiahwadiahInterestInterest

Chemical test Chemical test No specific checking on No specific checking on

the itemthe item

Must prove with Must prove with suratsurat

akuanakuan
Not strict with the Not strict with the

o/shipo/ship

AlrahnuAlrahnuPawnbrokingPawnbroking

AlrahnuAlrahnuPawnbrokingPawnbroking

Only goldOnly goldAnything valuableAnything valuable

5050--60% from the value.60% from the value.Maximum RM10KMaximum RM10K

AuctionAuctionIf loan below RM200If loan below RM200--

Own by Own by murtahinmurtahin

Proportionate valueProportionate valueCompensation Compensation ¼¼ from from

loan amount if the loan amount if the

item is brokenitem is broken

AlRahnuAlRahnu at Bank at Bank RakyatRakyat

�� 1.Al 1.Al rahnurahnu

�� Covers financing up to RM100Covers financing up to RM100--RM5000.RM5000.

�� 2. Al 2. Al ZahabZahab

�� RM5001RM5001--5000050000

�� Twice extensionTwice extension-- automatic or applicationautomatic or application

�� Only gold as collateralOnly gold as collateral

�� Concept: Concept: QardhulQardhul HasanHasan, , WadiahWadiah and and
AlRahnuAlRahnu..


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