TEKUN Nasional to prioritise strategic areas in Ar-Rahnu expansion plans - Noh Omar

Tan Sri Noh Omar (middle)
28/01/2022 06:30 PM

KUCHING, Jan 28 -- Tabung Ekonomi Kumpulan Usaha Niaga Nasional (TEKUN Nasional) plans to expand Ar-Rahnu’s services nationwide with strategic areas being a priority.

Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar said his party would look at potential places as well as areas that are the focus of the public so that the Ar-Rahnu TEKUN Nasional service could be easily reached by customers.

“I understand that one of the areas with high mortgage value is the branch in Shah Alam… so the opening of a new branch will create more opportunities for entrepreneurs and would-be entrepreneurs to increase their financing options,” he said after visiting the recently-opened Ar-Rahnu TEKUN Nasional branch here today. 

Ar-Rahnu TEKUN Nasional is a shariah-compliant mortgage financing product where the client/entrepreneur will pledge gold products or jewellery based on the types of gold accepted as collateral for the financing granted.

Commenting further, Noh said Ar-Rahnu TEKUN Nasional is open to all, including those who are not Malaysian citizens, and not only to entrepreneurs.

“Non-Muslims are also welcome to use the Ar-Rahnu financing services, even those who do not have a business can use the services,” he said.

On the Ar-Rahnu TEKUN Nasional branch in Kuching, Noh said although it had only been in operation for five weeks, the response was encouraging.

“During these five weeks, we managed a total of RM500,000 worth of mortgages involving 300 customers,” he said, adding that the Ar-Rahnu TEKUN Nasional Kuching branch is targeting RM4 million worth of mortgages in the first year of operation.

To date, Ar-Rahnu TEKUN Nasional has helped provide financing through gold mortgages with more than 73,890 transactions amounting to RM228.7 million from 2015 to Jan 17, 2022.

Apart from the branches in Kuching and Shah Alam, the other eight Ar-Rahnu TEKUN Nasional branches are in Wangsa Maju, Sentul, Semenyih, Alor Setar, Johor Bahru, Tawau, Kota Bharu and Tanah Merah, while the 11th branch will be opened in Kuala Nerus, Terengganu, in April this year.