Licensed moneylending industry as an alternative financial service in Malaysia
Moneylending in Malaysia began informally before independence with the Nattukottai Chettiars pillared by their temple institution, and the Punjabi Sikh community supported by their motherland Punjab (Lal, 2003; Manjit, 1991). It was spearheaded by mutual trust between lenders and borrowers using han...
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| Format: | Article |
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Malaysian Financial Planning Council
2019
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| _version_ | 1796980877857652736 |
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| author | Sandhu, Daljit Kaur Muhammad Arif, Afida Mastura Abu Bakar, Elistina Abdul Rahim @ Abdul Wahab, Husniyah |
| author_facet | Sandhu, Daljit Kaur Muhammad Arif, Afida Mastura Abu Bakar, Elistina Abdul Rahim @ Abdul Wahab, Husniyah |
| author_sort | Sandhu, Daljit Kaur |
| collection | UPM |
| description | Moneylending in Malaysia began informally before independence with the Nattukottai Chettiars pillared by their temple institution, and the Punjabi Sikh community supported by their motherland Punjab (Lal, 2003; Manjit, 1991). It was spearheaded by mutual trust between lenders and borrowers using hand written or verbal IOUs. Borrowers were primarily adult males seeking funds to conduct businesses, resulting in prompt repayments. It is unfortunate that due to the Japanese occupation of Malaya in 1942 to 1945, and the implementation of the requirement of having Malaysian citizenship to practise licensed moneylending with the passing of Moneylenders Act 1951. |
| first_indexed | 2024-03-06T10:29:31Z |
| format | Article |
| id | upm.eprints-81219 |
| institution | Universiti Putra Malaysia |
| last_indexed | 2024-03-06T10:29:31Z |
| publishDate | 2019 |
| publisher | Malaysian Financial Planning Council |
| record_format | dspace |
| spelling | upm.eprints-812192021-09-27T09:48:52Z http://psasir.upm.edu.my/id/eprint/81219/ Licensed moneylending industry as an alternative financial service in Malaysia Sandhu, Daljit Kaur Muhammad Arif, Afida Mastura Abu Bakar, Elistina Abdul Rahim @ Abdul Wahab, Husniyah Moneylending in Malaysia began informally before independence with the Nattukottai Chettiars pillared by their temple institution, and the Punjabi Sikh community supported by their motherland Punjab (Lal, 2003; Manjit, 1991). It was spearheaded by mutual trust between lenders and borrowers using hand written or verbal IOUs. Borrowers were primarily adult males seeking funds to conduct businesses, resulting in prompt repayments. It is unfortunate that due to the Japanese occupation of Malaya in 1942 to 1945, and the implementation of the requirement of having Malaysian citizenship to practise licensed moneylending with the passing of Moneylenders Act 1951. Malaysian Financial Planning Council 2019-06 Article PeerReviewed Sandhu, Daljit Kaur and Muhammad Arif, Afida Mastura and Abu Bakar, Elistina and Abdul Rahim @ Abdul Wahab, Husniyah (2019) Licensed moneylending industry as an alternative financial service in Malaysia. Journal of Wealth Management & Financial Planning, 6. pp. 66-74. ISSN 2289-6937 https://www.mfpc.org.my/portfolio/volume-6-issue-2019/ |
| spellingShingle | Sandhu, Daljit Kaur Muhammad Arif, Afida Mastura Abu Bakar, Elistina Abdul Rahim @ Abdul Wahab, Husniyah Licensed moneylending industry as an alternative financial service in Malaysia |
| title | Licensed moneylending industry as an alternative financial service in Malaysia |
| title_full | Licensed moneylending industry as an alternative financial service in Malaysia |
| title_fullStr | Licensed moneylending industry as an alternative financial service in Malaysia |
| title_full_unstemmed | Licensed moneylending industry as an alternative financial service in Malaysia |
| title_short | Licensed moneylending industry as an alternative financial service in Malaysia |
| title_sort | licensed moneylending industry as an alternative financial service in malaysia |
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