Ez Ar Rahnu / Nur Hanani Aqilla Hairuddin … [et al.]

Hairuddin, Nur Hanani Aqilla and Abdul Jalil, Fadhilah and Roslan, Nor Amira Sahirah and Azmee, Siti Raidah and Mohd Nor, Amirudin (2017) Ez Ar Rahnu / Nur Hanani Aqilla Hairuddin … [et al.]. In: Melaka International Intellectual Exposition (MIIEX 2007). Division of Research and Industry Linkages, Alor Gajah, Melaka.

Download

[thumbnail of 47831.pdf] Text
47831.pdf

Download (348kB)

Abstract

Ar Rahnu, an Islamic pawn broking for short-term collateralized borrowing is one of the special segment of the Islamic financial services offered by Banks. The Islamic Pawn broking Industry in Malaysia has grown to almost RM5 billion a year as reported by the Malaysian Gold Association (MGA) I n 2015. One of the issues in the industry is the absence of a.clear justification of the ujrah fee rate charged by the bank and pawnshop. Currently, the existing system provided by Bank Muama'lat Ar Rahnu is very general where the customers can only know the gold’s value with some other information rather than the exact calculation of the safekeeping fees. As a result, they have to calculate it by themselves manually or just make the payment as informed by the bank’s officer without knowing the exact calculation of the safekeeping cost. Hence, we put forward an innovation of a new software that will ease Bank Muamalat’s customers and the product is called Ez Ar Rahnu. This innovation enables customer to know why they need to pay the given amount and how the calculation is done as they are not being exposed on that by the banking institution. It is hoped that this innovation complement customers' needs as it is easier for them to set aside their money as expenses for their gold investment. Perhaps more people will be interested in gold investment with the aid of this software.

Metadata

Item Type: Book Section
Creators:
Creators
Email
Hairuddin, Nur Hanani Aqilla
UNSPECIFIED
Abdul Jalil, Fadhilah
UNSPECIFIED
Roslan, Nor Amira Sahirah
UNSPECIFIED
Azmee, Siti Raidah
UNSPECIFIED
Mohd Nor, Amirudin
UNSPECIFIED
Contributors:
Contribution
Name
Email / ID Num.
Patron
Mahat, Sabariah
UNSPECIFIED
Advisor
Othman, Rani Diana
UNSPECIFIED
Advisor
Harun, Norazman
UNSPECIFIED
Advisor
Ismail, Shafinar
UNSPECIFIED
Subjects: H Social Sciences > HG Finance > Financial management. Business finance. Corporation finance
H Social Sciences > HJ Public Finance > Finance, Islamic
Divisions: Universiti Teknologi MARA, Melaka > Bahagian Penyelidikan dan Jaringan Industri, UiTM Melaka
Item ID: 47831
Uncontrolled Keywords: Ar Rahnu; Islamic pawn broking; Islamic finance
URI: https://ir.uitm.edu.my/id/eprint/47831

ID Number

47831

Indexing


View in Google Scholar

Edit Item
Edit Item