RMS Launches MyARX To Strengthen Digital Transformation Of Ar-Rahnu X’Change
GEORGE TOWN, Sept 12 (Bernama) -- Bank Kerjasama Rakyat Malaysia Bhd’s (Bank Rakyat) wholly-owned subsidiary, Rakyat Management Services Sdn Bhd (RMS), has launched the MyARX mobile application as part of its efforts to strengthen the digital transformation of the Ar-Rahnu X’Change service.
RMS chairman Mohd Jafri Kudus said MyARX offers various facilities to customers, including checking pledge account information and transaction history, receiving notifications, making payments and accessing information related to auctions.
"It is also equipped with an Ar-Rahnu calculator, a facility to find the nearest branch network, and user profile management to enable customers to access Ar-Rahnu services more quickly, easily and securely," he told reporters at the Ar-Rahnu X’Change 2025 Award Ceremony here yesterday.
The event was officiated by Bank Rakyat chairman, Datuk Mohd Irwan Mohd Mubarak, and was also attended by the group chief executive officer, Ahmad Shahril Mohd Shariff.
Mohd Jafri said the launch of MyARX is one of the strategic initiatives designed to complete the digitalisation of the Ar-Rahnu X’Change operational ecosystem, thereby ensuring that the brand remains competitive and relevant in the future.
He said Ar-Rahnu X’Change had earlier introduced an online payment system through e-bayar, in addition to being the first Ar-Rahnu operator in Malaysia to implement paperless transactions through the e-paper initiative since March last year, with the customer acceptance rate for e-paper usage now reaching 97 per cent.
In a related development, Mohd Jafri said Ar-Rahnu X’Change recorded positive performance with a total cumulative financing disbursement of RM2.66 billion until August 2026.
He said the total financing balance reached RM2.17 billion during the same period, with several franchisees showing positive growth despite facing various challenges, including working capital issues and fluctuations in gold prices.
Mohd Jafri noted that based on current developments, five more new Ar-Rahnu X’Change networks are expected to operate in Bandar Country Homes, Selangor; Tawau and Semporna, Sabah; Bukit Baru, Melaka; and Gua Musang, Kelantan.
Meanwhile, Mohd Irwan said that the Ar-Rahnu X’Change franchise business model is one of Bank Rakyat's programmes that has successfully fulfilled its mandate in cooperative business development through the sharing of experience and expertise in Ar-Rahnu business operations since 1993.
"The performance throughout 2025, which recorded financing disbursements amounting to RM5.1 billion, reflects the consistent demand for Islamic pawnshop products.
"Therefore, it is a business opportunity that cooperatives should consider pursuing," he said.
Mohd Irwan added that Bank Rakyat will continue to play a role in supporting Ar-Rahnu X’Change, especially in terms of business development, including improving the business model and providing facility support to meet the needs of cooperatives.
-- BERNAMA