Going to pawn 100gram 999/24k gold at Bank Rakyat Ar Rahnu today

How much loan do they give on a 10oz gold coin?

How do you know its the same gold coin that you will receive back from them?

It's not gold coin, it's jewellery, Bank Rakyat only accept jewellery now

I don't know but as long as it's still 999/24k with same weight, I'll take it

They dont accept gold coins?

Thing is how do YOU know its authentic gold when they return it to you?

go to Agro bank, they provide cheaper rate than bank rakyat.

What rates do you have to pay monthly?

Does Agro accept gold coins?

latest memo, agro bank + bank rakyat no longer accept bullion coin and bar .
May change their policy later, just don;t know when.

Nominal Annual interest rate is 15%.
Agro bank is cheaper but they give less $ for the same amount of gold.
U get back the same gold cause they will special pack each pawner 's items separately.
settlement within 6 months.

It depends on officer that u met..

Agro - 0.65%
Bank Rakyat - 0.75%

But Agro Bank financial not as steady as Bank Rakyat, it's about time they change the whole things

Thanks!

15% !!!! WOW!!!! Sounds like Shylock's operating this!



This post has been edited by prophetjul: Jun 2 2011, 08:38 PM

traditional one is 2% per month. Since it bank operate I 'm sure it compliance with the Pawning Act. Thus, big capital is required, that why Ar-Rahnu is backed by banks.
No big capital cannot do this business.
You can look at the licensing requirement and operational requirement below. Got time go and study it.
That why U can;t blame the traditional pajak charge 2%.

need 3 mil capital. cannot open within 1km range from another pawn shop.
safe reinforced concrete 9 inch thick, operation hr 9 - 6 pm only. CCTV, bullet proof glass + grill. air-condition room, Alarm, recording of all transaction..


http://www.kpkt.gov.my/kpkt/fileupload/ppw...EN_BARU_PPG.pdf

http://www.agc.gov.my/Akta/Vol.%202/Akta%2081.pdf

in ONE word,.......only Shylocks operate pawn shops!

good thing to read regarding the schemes http://www.bnm.gov.my/microsites/fraudalert/0301_status.htm

Thanks for sharing.

Despite everything, Gold will keep goin up in the next few years. Very Bullish market.. Some are saying it will touch 2000US per ounce by the end of 2011. & some even say US5000 per oz in the next few yrs.

My approach is stock up on gold as much as you can monthly. US$1500per oz may seem high now but in the next few yrs, you will just smile as Gold is best way to protect your wealth from all the manipulation with fiat currency/inflation.

This post has been edited by dinodrumz: Jun 5 2011, 03:09 PM

Somehow the 'advice' don't seem so persuasive with your avatar being "BeliGOLD.com". Some people say isn't exactly any different from aunty and uncle in market say

Well, some people here meaning Rob McEwen, not just some random aunty uncle . LOL*

So it is said by someone who has a vested interest in gold? Very persuasive indeed

Like CEO of Enron & WorldCom screaming good news and stuff?

Just don't understand why people can't do sales honestly.