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Rasyidah, owner of Fabulous Tailoring and Boutique, seeks financing of RM8,400 by pledging her RM12,000 worth of jewelry under the Ar Rahn Tawarruq Scheme at Bank Islam Malaysia Berhad. The profit charge for a 6-month period is calculated at RM576, and if extended for another 6 months, the total profit charge would be RM1,152. If Rasyidah fails to repay, Bank Islam may sell the pledged property, hold surplus funds in Baitulmal, or offer a new agreement for an extension.
- Author
- hahahahah
- Language
- EN