The first Ar-Rahnu (Islamic pawn broking) shop was established in Terengganu, Malaysia in 1992. However, the role of exchange between benefits and sacrifices in Ar-Rahnu transaction as a determination of its development has not been given much emphasis in Malaysia. Therefore, this paper explores a new perspective of Ar-Rahnu especially focusing on its benefits and sacrifices. Several studies have highlighted the benefitssacrifices exchange (BSX) to be the determinant of customer demand. The BSX in Ar-Rahnu transaction proposes a new conceptual framework to investigate the effects of its usage. This paper provides a new insight into these constructs by introducing the Social Exchange Theory (SET). Two hundred and six respondents were selected to answer a set of questionnaires. The Factor Analysis found that the dimension of benefits and sacrifices in Ar-Rahnu is fit to be analysed using SEM using Amos. This paper suggests that BSX in Ar-Rahnu transaction produce a significant effect on the Ar-Rahnu customerpawnbroker trust and long-term relationship.