Pos Malaysia Bhd continues its diversification by venturing into Ar-Rahnu, the Islamic pawnbroking business. The postal group has entered into a 80:20 joint venture with Bank Muamalat Malaysia Bhd (BMMB) to start Ar-Rahnu.
Pos Ar-Rahnu Sdn. Bhd incorporated on March 30, 2012, operates in the Other Non-depository Credit Intermediation sector.
Ar-Rahnu business includes a wide range of lending activities in which possessions are offered as security for a debt. The collateral is taken from a debtor who fails to pay back the money due.
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Diversification has been the trend in the
worldwide postal industry in the face of declining mail volumes. Since the
advent of email and the declining relevance of “snail” mail, many postal
companies have had to spread out their income streams.
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