CONGRATULATIONS to Chairman of Bank Rakyat Datuk Haji Abdul Rani Lebai Jaafar for receiving The BrandLaureate e-Branding World Halal BestBrands Awards 2020 — in the category of Finance- Collateralized Borrowing.

Bank Kerjasama Rakyat Malaysia Berhad or Bank Rakyat was established on September 28. 1954 under Ordinance Cooperation’s Act 1948,

regulated by Bank Negara Malaysia under Development Financial Institutions Act, Ministry Of Entrepreneur Development and Cooperatives and Cooperatives Commission of Malaysia.

Headquartered in Kuala Lumpur, it provides different types of banking services including Islamic banking and cooperative banking.

Ar-Rahnu X’Change is Bank Rakyat’s Islamic pawn services franchise (Ar-Rahnu). Established in 1993, it offers instant cash loans up to RM650,000 secured by jewelry through Ar-Rahnu, Az-Zahab, and Az-Zahab Premium schemes.

Through the franchise system, Bank Rakyat allows a cooperative to hold the right as a franchisee to conduct Ar-Rahnu business.

Since its launch on December 7, 2006, Ar-Rahnu X’Change is now operating throughout the country with 114 branches nationwide. Rakyat Management Services Sdn Bhd (RManagement), a wholly-owned subsidiary of Bank Rakyat is responsible for managing the operations of this franchise business.

In addition to loans, ARX Change also offers ARX Save which is a jewelry storage service with a maximum security guarantee, besides jewelry

cleaning services and others.

For more info visit their website at: http://www.arrahnuxchange.com.my/v4/ms/utama/

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