24 new Al-Rahnu branches to be set up this year

A total 24 new Al Rahnu branches, under the Malaysian Islamic Economic Development Foundation (YaPEIM), will be set up this year to provide Islamic mortgaging facilities for the people, said Minister in the Prime Minister's Department Datuk Seri Jamil Khir Baharom.

He said priority would be given to Sabah and Sarawak and the 222 parliamentary constituencies in the country.

"An additional allocation of RM200 million which was approved by the Prime Minister last year, will be used for this purpose," he told a press conference after attending a YaPEIM function, here, today.

The are currently 154 Al-Rahnu branches in the country.