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Eastern Region News

December 30, 2006 22:52 PM

Plan To Increase Islamic Pawnbroking Outlets To Check Loan Sharks

CHINI, Dec 30 (Bernama) -- The government is seeking to increase the number of Islamic pawnbroking (Ar-Rahnu) outlets from 160 to 400 nationwide in a move to discourage the people, particularly Muslims, from patronising "Ah Long" or loan sharks, Deputy Prime Minister Datuk Seri Mohd Najib Tun Razak said.

The government is in consultation with the Malaysian Islamic Economic Development Foundation (YPEIM) to consider raising the number of these outlets, he said at a meet-the-people session at the Chini 5 Felda settlement, here.

He said raising the number of these outlets would give the people a proper alternative source of loans.

"We do not want them to borrow from Ah Long (loan sharks) because it would eventually ensnare them," he said.

Najib said Islamic pawnbroking not only prevented the people from getting into any difficulty but also enhanced the economic revenue of Muslims.



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