Ar-Rahnu, also known as Islamic pawn broking, is one of the Shariah-compliant financings implementing the Shariah concepts of Tawarruq, Rahn, Wadi’ah, was founded in Malaysia three decades ago as an alternative to conventional pawn broking. In responding to this matter, Co-opbank Pertama (M) Berhad, one of Malaysia’s cooperative banks, has established and offered Ar-Rahnu financing since 2018 as one of their products throughout the 29 branches in Malaysia. Thus, this research aims to analyse the implementation of Ar-Rahnu financing operations, specifically in the cooperative banking sector. Qualitative analysis through in-depth interviews has been done with two informants who have experience in the Ar-Rahnu field and are involved in Ar-Rahnu's daily operations in the cooperative banking sector. The results reveal that the implementation process of Ar-Rahnu's execution in Co-opbank Pertama (M) Berhad is based on the governance laws in Malaysia, and it is one of the cooperative institutions that provides the Ar Rahnu scheme, as one of its products has adapted the Shariah concepts of tawarruq (murabahah) and rahn in its implementation.
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