Upah Simpan Barang dalam Skim Ar-Rahnu: Satu Penilaian Semula

The purpose of this paper is to compare the Islamic micro-financing and Ar-Rahnu. Using the content analysis approach, the paper examines the reports of micro-financing provided by Bank Negara Malaysia and comparing the rate with Ar-Rahnu. To validate the content analysis facts and to reveal the actual behavior and perception of micro-entrepreneurs towards Ar-Rahnu, this study also conducted in-depth interview. The results show significant advantages of Ar-Rahnu as a better option as compared to the Islamic micro-financing as Ar-Rahnu has the lowest pricing charges, offer higher margin and lesser procedures required. In fact, Ar-Rahnu also have skilled employees reflected to their customer satisfaction and updated with the current technology of innovation (fintech). This paper's contribution to the literature is by including a comparison between the products within the Islamic financial system setting. Besides, in term of methodology, this study used multiple approaching techniques of qualitative method which are content analysis and in-depth interview.

Section: Figure 10 Unleashing the Potential Of Ar-rahnumentioning

confidence: 99%

Unleashing the Ar-Rahnu as a Micro-Financing Instrument for Micro-Entrepreneurs in Malaysia

Azman¹,

Zabri²,

Kassim³

et al. 2020

“…The sample comes from small-scale Muslim entrepreneurs in Kelantan. Kelantan is one of the states in the East Coast of the Peninsula Malaysia that is very exposed to Ar-Rahnu financing since 1992 when Ar-Rahnu was founded in Kelantan (Mohamad & Salleh, 2008). The survey was distributed to 400 small-scale entrepreneurs in the main markets in ten districts in Kelantan, but only 350 data were returned and were deemed qualified to be processed for analysis.…”

Section: Methodsmentioning

confidence: 99%

Level of Acceptance of Muslim Small-Scale Entrepreneurs in Kelantan towards Ar-Rahnu

Yahaya¹,

Bahari²

2018

Ar-Rahnu provide source of finance for Muslim small-scale entrepreneurs in Malaysia especially in Kelantan. However, Ar-Rahnu service received a lukewarm response because in the procedure, customers are required to prepare collateral in the form of gold in their dealing. The question is, do the small-scale entrepreneurs realize about the existence of Ar-Rahnu? How is their acceptance towards the micro-credit financing? Is there any difference in the acceptance according to the demography? This article seeks to analyzed the level of acceptance and the difference in the demography of the small-scale Muslim entrepreneurs in Kelantan towards Ar-Rahnu. A total of 350 respondents were chosen through the purposive sampling comprising of small-scale Muslim entrepreneurs in Kelantan. The finding outcome is analyzed descriptively to know the percentage value and mean value using the software "Statistical Package for Social Sciences" (SPSS) version 22.0. The finding also shows a positive level of acceptance of small-scale Muslim entrepreneurs in Kelantan towards Ar-Rahnu. The small-scale entrepreneurs' level of acceptance towards elements under the factor of Religious Obedience and the Intrinsic factor is mode dominant compared to elements in the Extrinsic factor. The demographic difference between the gender of the respondents shows that there is a significant difference in the acceptance compared to other demographic factors. Thus, this article can give important implication to Ar-Rahnu institutions to consider about the importance of religious obedience and intrinsic factors that directly related to religious. Besides, the important of female entrepreneur role that becomes important icon towards Ar-Rahnu progress in Kelantan.

“…As mentioned above, the condition of tamathul (same value) originally referred to current world gold market (Noor, 2017). Initially, it is permissible to sell gold with mark-up price based on hire cost (Mohamad & Salleh, 2008). However, the issue raises when the gold collector selling with acquire the profit without effort based.…”

Section: Gold Reselling In Condition Of Tamathulmentioning

confidence: 99%

Gold Reselling in Online Transaction: A Study from Muamalat Perspective

Ismail¹,

Ismail²,

Azizi³

et al. 2021

Gold is promoted largely as purchasing and selling physical valuable item in Malaysia. It is importantly become a saving tools as well as for investment purpose to the society. Henceforth, many of gold's company such as Public Gold, Dinar Emas Kelantan, and others grab this kind of opportunity to offers the valuable gold item in order to attract the customer's intentness. One of the companies' marketing strategy is by issuing gold special edition such as Black Panther Wakanda Forever, Covid-19 Special Edition, and Dinar Emas Legasi TG Nik Aziz, Appreciation to Malaysia 8 th Prime Minister and others. This special offer initially caught an attention among gold reseller or collector since it may able to raise a mark-up profit by reselling this gold bar to the buyer. Besides, the lock price system also initiated in gold transaction among reseller and buyer involved the divergent among Islamic scholar poit of view. Henceforth, this article aims to explain legal consequences in reselling gold from Muamalat Perspective. This article employed inductive and deductive method by understanding from Quran, hadith, as well as Islamic school of thought as references. It is expected to contribute in exploring the concept of reselling gold transaction from Islamic law transaction which is clearly aims to avoid the element of gharar, and riba. This article suggest the policy maker such as National Fatwa Council or Shariah Advisory Council (SAC) Bank Negara Malaysia to develop a guideline or parameter regarding gold reselling standard.