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A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia

In this paper we aim to examine the effectiveness of Al-Rahnu (Islamic pawn broking) services in fulfilling and enhancing socio-economic needs of its users as an alternative source of managing short term cash flow problem. To achieve our objectives we conducted a survey in two cities of Malaysia: Ku...

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Main Authors: Mohd Noar, Nor Zaihan, Islam, Mohd Aminul
Format: Article
Language:English
Published: Global Research & Development Services (GRDS) 2015
Subjects:
H Social Sciences (General)
HA154 Statistical data
Online Access:http://irep.iium.edu.my/49894/1/ISLAMIC_PAWN_BROKING_SERVICES_2015.pdf
http://irep.iium.edu.my/49894/
http://grdspublishing.org/22-people-special-issue-2015/228-people-special-issue-vol-1-issue1-nor-zaihan-bin-mohd-noar.html
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spelling my.iium.irep.498942018-10-16T03:33:01Z http://irep.iium.edu.my/49894/ A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia Mohd Noar, Nor Zaihan Islam, Mohd Aminul H Social Sciences (General) HA154 Statistical data In this paper we aim to examine the effectiveness of Al-Rahnu (Islamic pawn broking) services in fulfilling and enhancing socio-economic needs of its users as an alternative source of managing short term cash flow problem. To achieve our objectives we conducted a survey in two cities of Malaysia: Kuantan and Kuala Terengganu in the states of Pahang and Terengganu respectively. A sample of 128 users of Ar-Rahnu services were used to collect data through distributing a semi-structured questionnaire. The results were analyzed via the cross tabulation using excel spreadsheets. The findings from this study revealed that the community, especially the Malay ethnicity found Al-Rahnu services effective in fulfilling their needs of getting access to small short term loans with fast and hassle freeway and hence making them loyal to Al-Rahnu services. This implies that the Ar-rahnu services are well accepted as a better mean to ease short term financial difficulties and hence able to empower socio-economic needs of the people. The fulfillment of needs are derived from two main components of Al-Rahnu survey questions i.e. the loan tenure and the loan sufficiency. Global Research & Development Services (GRDS) 2015 Article PeerReviewed application/pdf en http://irep.iium.edu.my/49894/1/ISLAMIC_PAWN_BROKING_SERVICES_2015.pdf Mohd Noar, Nor Zaihan and Islam, Mohd Aminul (2015) A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia. PEOPLE: International Journal of Social Sciences, 1 (1). pp. 890-903. ISSN 2454-5899 http://grdspublishing.org/22-people-special-issue-2015/228-people-special-issue-vol-1-issue1-nor-zaihan-bin-mohd-noar.html
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic H Social Sciences (General)
HA154 Statistical data
spellingShingle H Social Sciences (General)
HA154 Statistical data
Mohd Noar, Nor Zaihan
Islam, Mohd Aminul
A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia
description In this paper we aim to examine the effectiveness of Al-Rahnu (Islamic pawn broking) services in fulfilling and enhancing socio-economic needs of its users as an alternative source of managing short term cash flow problem. To achieve our objectives we conducted a survey in two cities of Malaysia: Kuantan and Kuala Terengganu in the states of Pahang and Terengganu respectively. A sample of 128 users of Ar-Rahnu services were used to collect data through distributing a semi-structured questionnaire. The results were analyzed via the cross tabulation using excel spreadsheets. The findings from this study revealed that the community, especially the Malay ethnicity found Al-Rahnu services effective in fulfilling their needs of getting access to small short term loans with fast and hassle freeway and hence making them loyal to Al-Rahnu services. This implies that the Ar-rahnu services are well accepted as a better mean to ease short term financial difficulties and hence able to empower socio-economic needs of the people. The fulfillment of needs are derived from two main components of Al-Rahnu survey questions i.e. the loan tenure and the loan sufficiency.
format Article
author Mohd Noar, Nor Zaihan
Islam, Mohd Aminul
author_facet Mohd Noar, Nor Zaihan
Islam, Mohd Aminul
author_sort Mohd Noar, Nor Zaihan
title A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia
title_short A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia
title_full A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia
title_fullStr A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia
title_full_unstemmed A study on the efficacy of Islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-Kuantan and Kuala Terengganu in Malaysia
title_sort study on the efficacy of islamic pawn broking services in fulfilling socio –economic needs: a case of two cities-kuantan and kuala terengganu in malaysia
publisher Global Research & Development Services (GRDS)
publishDate 2015
url http://irep.iium.edu.my/49894/1/ISLAMIC_PAWN_BROKING_SERVICES_2015.pdf
http://irep.iium.edu.my/49894/
http://grdspublishing.org/22-people-special-issue-2015/228-people-special-issue-vol-1-issue1-nor-zaihan-bin-mohd-noar.html
_version_ 1643617749482602496
score 13.211869

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