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Framework for financial hardship indebtedness management in abandoned housing projects in Malaysia

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dc.contributor.authorNoor Suhaida Kasri
dc.contributor.authorSaba' Radwan Jamal Elatrash
dc.contributor.authorAbideen Adeyemi Adewale
dc.contributor.authorSa'id Adekunle Mikail
dc.contributor.authorNoor Suhaida Kasri
dc.date.accessioned2021-12-29T03:26:06Z
dc.date.available2021-12-29T03:26:06Z
dc.date.issued2018
dc.description.abstractThis paper aims to examine the existing practices and pertinent issues affecting Islamic banks and their customers in abandoned housing projects (AHPs) to ensure compliance with Shari'ah and statutory requirements. This study employs the qualitative research method using the inductive approach to analyze both primary and secondary data and sources. Data collection involved a series of semi-structured interviews with five volunteering Islamic banks and a representative of Abandoned Property Owners Association Malaysia (Victims). Statutory acts, regulatory policies, guidelines, directives and standards were also analyzed. The result indicates developer's default, underlying contracts, regulatory arbitrage and bureaucracy, attitudinal disposition of customers and sell-then-build approach as major factors of AHP's conundrum. This study has suggested both short- and long-term solutions based on the principles of justice, public interests and removal of hardship to resolve and effectively manage financial hardship indebtedness arising from housing abandonment. Further, part of the proposed solutions would also reshape housing development policies and home financing transactions.en_US
dc.goalsGoal 11
dc.identifier.citationMikail, S. A., Kasri, N. S., Elatrash, S. R. J., & Adewale, A. A. (2018). Framework for financial hardship indebtedness management in abandoned housing projects in Malaysia. ISRA International Journal of Islamic Finance, 10 (1), 102-110. http://dx.doi.org/10.1108/IJIF-03-2018-0027en_US
dc.identifier.doihttp://dx.doi.org/10.1108/IJIF-03-2018-0027
dc.identifier.issn0128-1976
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3495
dc.languageEnglish
dc.language.isoengen_US
dc.publisherEmerald Publishing Limiteden_US
dc.rights2018. International Shari'ah Research Academy for Islamic Finance (ISRA)
dc.sourceSEDONA
dc.subjectIslamic home financingen_US
dc.subjectAbandoned housing projectsen_US
dc.subjectFinancial hardshipen_US
dc.subjectHome buyersen_US
dc.subjectHousing developeren_US
dc.subjectIndebtedness managementen_US
dc.titleFramework for financial hardship indebtedness management in abandoned housing projects in Malaysiaen_US
dc.typeJournal Articleen_US
dlc.maintopicIslamic bankingen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.goalGoal 11
ikr.topic.maintopicIslamic bankingen_US
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