Wed, 23 Jun 2010

TEMPO Interactive, Jakarta:Malaysian bank Bank Kerja Sama Rakyat Malaysia or Bank Rakyat Malysia intends to develop the Islamic Pawnshop Franchise Ar-Rahnu X'change, in Indonesia.

The Domestic Trade, Cooperative and Consumers Minister , Datuk Seri Ismail Sabri Yaakob, said the step has been taken as an effort to penetrate Indonesian franchises sector, most of them currently operating in the health and food products sectors.

Besides Indonesia, he said that Malaysia is discussing with Brunei to develop the same product. “This is the first time that such product is introduced in Indonesia. We are just exploring the possibilities, there has been no further discussions yet,” he said.

He said that Indonesians themselves would manage the franchise.”They would only use our concept. It’s a franchise,” he told reporters in Jakarta, Sunday, during a two-day visit to Indonesia.

Ismail said as a country with the largest Muslim population, Indonesia should have the potential to develop the product, even though some issues, like its regulations, must still be studied.

Ismail Sabri was in Jakarta to inaugurated the Malaysian Pavilion at the 2010 International Franchise License and Business Concept Expo in Jakarta Convention Center, which was held from 18 to 20 June.

Ismail said that there are 11 Malaysian franchises operating in Indonesia, including Sports Planet, Daily Fresh, Nelson's, Smart Reader, Royal Selangor and Saba Islamic Media.