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Malaysia: Islamic pawnshops are boon to poor

Posted on 26 January 2010

From Nst.com.my: Whether rich or poor, the need for urgent cash is always there. The poor are not able to qualify for credit cards or personal loans from banks in Malaysia.
If they go to illegal moneylenders, the interest rate would be absurdly high, with a possibility of being trapped for a long time. This might lead to repayment of more than three times the borrowed amount………………….Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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