Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing

 

  Welcome to Bernama Banking & Finance Special Page     
 
Bank Rakyat Introduces Ar-Rahnu X'change

KUALA LUMPUR, Dec 7 (Bernama) -- Bank Rakyat, through its subsdiary Rakyat Management Services Sdn Bhd (RMS), has introduced the first Islamic pawn-broking franchise called Ar-Rahnu X'Change, specially tailored for cooperatives in the country.

The Ar-Rahnu X'Change franchise scheme is an initiative to churn out more Bumiputera entrepreneurs, said Entrepreneur and Co-operative Development Minister, Datuk Seri Mohamed Khaled Nordin.

"The introduction of the scheme will open up business opportunities where cooperatives in the country can offer micro-credit loans to its members," he told reporters after officiating the Ar-Rahnu X'Change outlet in Bandar Baru Sentul, here Thursday.

Meanwhile, Bank Rakyat Chairman Tan Sri Dr Syed Jalaludin Syed Salim said since it was introduced in 1993, the Ar-Rahnu scheme has received encouraging response.

Currently, it controls 21 percent or RM630 million of the Islamic pawn-broking market in the country which is estimated at RM3 billion.

He said 25 more Ar-Rahnu X'Change outlets will be opened throughout the country.

-- BERNAMA

 <Back>

Bank Islam Bags Three Awards At International Banker's Annual Awards Event
Hong Leong Bank, Hong Leong Islamic Raise Lending Rates

 
Malaysian Banks Issue RM3.25 Billion Ringgit-denominated Sukuk

 

Takaful Ikhlas Allocates RM45,000 For Social Programmes In Conjunction With Aidilfitri
Etiqa Takaful's Mabrur Named Product Of The Year

 
MCIS Zurich Insurance Now Known As MCIS Insurance Bhd

CLOSING, THURSDAY, JULY 24
US 3.1735/1755
S'pore 2.5630/5656
100 Yen 3.1248/1276
Sterling 5.3997/4041
Euro 4.2785/2825
Source: Bank Negara Malaysia


Warning: mysql_connect() [function.mysql-connect]: Can't connect to MySQL server on '192.168.1.45' (64) in /www/htdocs/finance/poll/common.php on line 208
Unable to connect to the database!