BIBD welcomes delegates of Asean Regional Ar-Rahnu Secretariat Meeting
A welcoming dinner for some 40 delegates of the Asean Regional Ar-Rahnu Secretariat Meeting was held last night, at the Rizqun International Hotel in Gadong. The delegates are from Indonesia, Cambodia, Timor Leste, Malaysia, Thailand and Brunei Darussalam.
Ar Rahnu is a riba-free (interest free) and transparent micro-credit facility that gives clients the chance to choose the best service provider in order to get fast and easy access to cash, compared to getting financing facilities from commercial banks or finance companies.
To date, 9,000 customers have been provided for by Ar Rahnu on an annual basis, Mr Javed Ahmad, the Acting Director of BIBD said in his welcoming address.
"This is a very large number in proportion to Brunei's population," he said. "In Brunei, not everyone in the community will be within the 'banking target market'. But through Ar-Rahnu, we have been able to include those who are not financially stable to be included as (members of) the bankable population," he added.
The acting director also shared some success stories of those using the Ar Rahnu Scheme in Brunei, whereby he has witnessed some families successfully raising money for the purpose of doing business.
The Regional Ar Rahnu Secretariat was set up with the objective of providing a regional forum to help streamline the operations of the Ar Rahnu Scheme. It also aims to be a platform to standardise the operations of "Islamic Pawn Broking" and help overcome arising issues within the secretariat members' level.
Delegates are scheduled to deliver their deliberations today at the Asean Regional Ar-Rahnu Secretariat Meeting. They will also visit BIBD Branches to have a closer look at Ar-Rahnu Businesses that are being provided in the country.
Also present during last night's welcoming dinner was the Deputy Chairman of Syariah Advisory Body of BIBD, Dato Seri Setia Awg Hj Matussin bin Hj Baki; Deputy High Commissioner of Malaysia to Brunei Darussalam, Encik Agus Salim Yusof; and Dr Hj Abd Malek Awang Kechil, Director of General of the Malaysia Islamic Economic Development Foundation (YaPEIM).
Article taken from Borneo Bulletin
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