Ar Rahnu Tekun addressing constraints faced by entrepreneurs

Noh officiating at the Ar Rahnu Tekun Nasional Kuching Branch opening at Swan Commercial Centre, Matang Jaya as Adam (back, right) looks on.

KUCHING: Within five weeks of its operation, Ar Rahnu Tekun Nasional Kuching Branch has provided financing to 300 pawnbrokers through gold mortgages amounting to RM500,000.

According to Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar, for this year, the branch is also targeting a total of RM4mil in gold mortgages in an effort to help more entrepreneurs as well as the public, especially from the B40 group.

“Ar Rahnu Tekun Nasional Kuching Branch, which is our 10th branch, started operations on Dec 13, 2021 by providing shariah-compliant Islamic pawn micro financing services.

“This scheme, which is open to all sections of the community, is one of Tekun Nasional’s efforts in addressing the constraints of entrepreneurs who still face the problem of lack of capital even after receiving funding from the body.

“Ar Rahnu Tekun also offers support services such as consultancy services for institutions interested in pioneering the Ar Rahnu business field,” he said at the opening ceremony of Ar Rahnu Tekun Nasional Kuching Branch at Swan Commercial Centre, Matang Jaya.

Elaborating further, he said Ar Rahnu Tekun offered financing services with a profit rate as low as 0.5 per cent for every RM100 worth of marhun (value or price of gold for goods mortgaged at the time of the transaction), and up to RM150,000 with a financing margin of up to 80 per cent of the marhun value.

“Ar Rahnu Tekun also provides jewellery washing services for as low as RM3 for each jewellery.

“Apart from that, they also provide gold storage services with ujrah (service charge) of RM0.60 for every RM100 worth of marhun.”

To date, Ar Rahnu Tekun has successfully helped provide financing through gold mortgages with more than 73,890 transactions amounting to RM228.7mil from 2015 to Jan 17, 2022.

Noh added Tekun Nasional would also expand the Ar Rahnu service to the whole of Malaysia.

“To date, Ar Rahnu Tekun has been opened in Shah Alam, Wangsa Maju, Sentul, Semenyih, Alor Setar, Johor Bahru, Tawau, Kota Bahru and Tanah Merah.”

Also present was Tekun Nasional chief executive officer Datuk Adam Abd Ghani.

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