Gold Pawn in Islamic Banking

Often we need the money quickly, but trouble finding a loan. However, if you have some jewelry at home, you can get a loan through the Bank's rapid form of borrowing through the Golden Pawn Islamic Bank. Certainly, for those women who often keep their wealth in gold, know about the mortgage system. There are two institutions that accept this pledge system. The first is government-owned pawnshop, while the second is through Islamic Banking.

Gold Pawn System Differences
State-owned companies named Pawn is a pawn to receive the form of gold and electronic goods. They will provide loans with interest of 1.3% per 15 days. That considerable interest for a loan.

However, recently the Bank began to implement this pledge, particularly Islamic banking. Islamic banking does not apply flowers such as Pawn, but they apply the care system. Pawned the gold will require care costs and place, therefore we only charged rent and maintenance only.

Because the system does not use interest, then the way the counting is also different from pawnshops generally. Gold Pawn Sharia system is guaranteed to lend some cash from the gold there as much as 80% of the price of gold you have. Afterwards, you will be charged Rp 5,000-care range Rp 10,000 per day during a period of two months. After that you can extend again.

Gold Pawn Pros Through Islamic Bank
Keep in mind, the gold in the mortgage lien system, each of us will mortgage our gold to the pawnshop, they will charge an administration of 1% number given the size of mortgage loans. Then afterwards we'll be charged interest of 1.3% per fifteen days. For service users Pawnshop it feels heavy, because the administrative burden and interest. Well, the Islamic Bank offers a different, by removing all kinds of usury, like flowers for example

Therefore, they apply a flat administrative system. Administration around Rp 5,000 to Rp 10,000 each in pawn. Islamic pawnshop also introduced a system of care for the pegadai. The amount also depends on the size of the gold. The more weight the value of gold, the greater the cost to maintain.

Pawn Gold Through Lack of Islamic Banking
Indeed, the Islamic Bank seeks to eliminate the system of usury which occurs in all infrastructure-related lending. Therefore, to apply Sharia lien care system and not flowers. However, the lack of Islamic mortgage system is, they only lend an amount of 80% of the value of gold, but the overall costs of care assessed the amount of gold.

for example, when we mortgaged the 1 gram of gold worth Rp350.000, then we will get money from the Bank loan worth Rp250.000. However, the Bank set a 1.6% monthly maintenance fee from the weight of gold, not the amount of borrowing. Counting system is actually detrimental to the borrower, because ultimately what counts is the overall price of gold and not the amount lent. Well, after reading the advantages and disadvantages of gold in the Bank's lien Sharia, would decide where you please when they want to pawn?