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The Concept and Challenges of Islamic Pawn Broking (Ar-Rahnu)

The introduction of Islamic pawn broking (Ar-Rahnu) in Malaysia is seen as a new micro credit instrument. This paper aims to provide a review on Ar-Rahnu's concept and challenges faced by Islamic pawn shops in Malaysia. The study employs library and archive research to achieve the objectives of...

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Main Authors: Hisham S., Shukor S.A., Salwa A.B.U., Jusoff K.
Format: Article
Language:English
Published: 2018
Subjects:
Ar-Rahnu; Islamic pawn broking; Micro credit instrument
Online Access:http://ddms.usim.edu.my:80/jspui/handle/123456789/15860
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spelling my.usim-158602018-02-13T03:16:23Z The Concept and Challenges of Islamic Pawn Broking (Ar-Rahnu) Hisham S., Shukor S.A. Salwa A.B.U., Jusoff K. Ar-Rahnu; Islamic pawn broking; Micro credit instrument The introduction of Islamic pawn broking (Ar-Rahnu) in Malaysia is seen as a new micro credit instrument. This paper aims to provide a review on Ar-Rahnu's concept and challenges faced by Islamic pawn shops in Malaysia. The study employs library and archive research to achieve the objectives of the paper. Islamic pawn broking consists of four basic concepts namely Qardhul Hasan, Ar-Rahnu, Al-Wadi'ah and Al-Ujrah. The Islamic pawn broking have several advantages over conventional pawn broking because it provides a cheaper way to obtain financing and is free from interest. In addition, assets pawned are guaranteed to be kept safely and there is a fair practice in auctioning and bidding. In addition, Ar-Rahnu also helps finance educational needs and provides capital to small businesses and entrepreneurs. It implies that this instrument will help the community to increase economic capability of their families. Future research should study effective ways in managing challenges faced by Islamic pawn shops. 2018-02-13T03:16:23Z 2018-02-13T03:16:23Z 2013 Article 19909233 http://ddms.usim.edu.my:80/jspui/handle/123456789/15860 en
institution Universiti Sains Islam Malaysia
building USIM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universit Sains Islam i Malaysia
content_source USIM Institutional Repository
url_provider http://ddms.usim.edu.my/
language English
topic Ar-Rahnu; Islamic pawn broking; Micro credit instrument
spellingShingle Ar-Rahnu; Islamic pawn broking; Micro credit instrument
Hisham S., Shukor S.A.
Salwa A.B.U., Jusoff K.
The Concept and Challenges of Islamic Pawn Broking (Ar-Rahnu)
description The introduction of Islamic pawn broking (Ar-Rahnu) in Malaysia is seen as a new micro credit instrument. This paper aims to provide a review on Ar-Rahnu's concept and challenges faced by Islamic pawn shops in Malaysia. The study employs library and archive research to achieve the objectives of the paper. Islamic pawn broking consists of four basic concepts namely Qardhul Hasan, Ar-Rahnu, Al-Wadi'ah and Al-Ujrah. The Islamic pawn broking have several advantages over conventional pawn broking because it provides a cheaper way to obtain financing and is free from interest. In addition, assets pawned are guaranteed to be kept safely and there is a fair practice in auctioning and bidding. In addition, Ar-Rahnu also helps finance educational needs and provides capital to small businesses and entrepreneurs. It implies that this instrument will help the community to increase economic capability of their families. Future research should study effective ways in managing challenges faced by Islamic pawn shops.
format Article
author Hisham S., Shukor S.A.
Salwa A.B.U., Jusoff K.
author_facet Hisham S., Shukor S.A.
Salwa A.B.U., Jusoff K.
author_sort Hisham S., Shukor S.A.
title The Concept and Challenges of Islamic Pawn Broking (Ar-Rahnu)
title_short The Concept and Challenges of Islamic Pawn Broking (Ar-Rahnu)
title_full The Concept and Challenges of Islamic Pawn Broking (Ar-Rahnu)
title_fullStr The Concept and Challenges of Islamic Pawn Broking (Ar-Rahnu)
title_full_unstemmed The Concept and Challenges of Islamic Pawn Broking (Ar-Rahnu)
title_sort concept and challenges of islamic pawn broking (ar-rahnu)
publishDate 2018
url http://ddms.usim.edu.my:80/jspui/handle/123456789/15860
_version_ 1645154034805374976
score 13.222552

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