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Consumer protection in Malaysian Islamic home financing facilities from the Shariah perspective: with special reference to abandoned housing projects

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dc.contributor.authorAmnisuhailah Abarahan
dc.contributor.supervisorMuhammad Yusuf Saleem
dc.contributor.supervisorAzman Mohd Noor
dc.date.accessioned2019-09-30T10:43:59Z
dc.date.available2019-09-30T10:43:59Z
dc.date.issued2019
dc.description.abstractConsumer protection has never been more needed now as financial products and services are widely available. Due to information asymmetries, consumers often have lower bargaining power when using financial products and services. The concept of consumer protection is not directly found in classical Islamic writings. However, it is part and parcel of the Maqasid al-Shariah and evidenced in the Qur’an and Prophetic traditions. This study focuses on the issue of consumer protection in Islamic home financing from the Shariah perspective and related specifically to abandoned housing projects in Malaysia. It is an endeavour to find out the extent of protection consumers get when their homes financed from Islamic financial institutions end up abandoned. It is a qualitative study based on primary Shariah sources, analyses of legal documentation/structural operations of BBA, ijarah muntahiyyyah bi al-tamlik, musharakah mutanaqisah and tawarruq) and information gathered from interviews. Content analysis was applied to analyze all relevant information leading to the findings. The review of legal documentation found that there are no clauses, terms and conditions that protect consumers as most of the clauses appear to be in favour of the bank in the event the project is abandoned. Operationally, regardless of the contract, the study found that they do not reflect the inherent rights of protection especially for homebuyers in case of abandonment. The products are structured that all risks and liabilities are transferred to customers and the use of standard legal documentation has seen to this.en_US
dc.identifier.citationAbarahan, A. (2018). Consumer protection in Malaysian Islamic home financing facilities from the Shariah perspective: with special reference to abandoned housing projects (Doctoral dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/3117en_US
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3117
dc.languageEnglish
dc.language.isoengen_US
dc.publisherINCEIFen_US
dc.rights2018. INCEIF
dc.sourceSGPS
dc.subjectConsumer protectionen_US
dc.subjectHouse financingen_US
dc.subjectAbandoned housing projects
dc.subjectMalaysia
dc.titleConsumer protection in Malaysian Islamic home financing facilities from the Shariah perspective: with special reference to abandoned housing projectsen_US
dc.typePhDen_US
dlc.maintopicIslamic financeen_US
dspace.entity.typePublication
ikr.doctypeTheses
ikr.licenseAvailable in physical copy and downloadable format (Call Number: t HG 3368 A6 A522)
ikr.topic.maintopicIslamic financeen_US
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