Sub-prime issue: How Islamic financing able to solve the problem during financial crisis
Sub-prime crisis rise due to imprudent credit practice by the lender beside the other factors. Unethical element consist in the conventional financial system such as permissible speculation and allowable selling of debt’s mortgages via asset securitization created the situation become worse. In Isl...
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| Format: | Monograph |
| Language: | English |
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Universiti Utara Malaysia
2009
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| Online Access: | https://repo.uum.edu.my/id/eprint/2461/1/Subprime_Issue-How_Islamic_Financing_Able_To_Solve_The_Problem_during_Crisis.pdf |
| _version_ | 1825739976487206912 |
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| author | Daud, Mohd Hapandi |
| author_facet | Daud, Mohd Hapandi |
| author_sort | Daud, Mohd Hapandi |
| collection | UUM |
| description | Sub-prime crisis rise due to imprudent credit practice by the lender beside the other factors. Unethical element consist in the conventional financial system such as
permissible speculation and allowable selling of debt’s mortgages via asset securitization created the situation become worse. In Islam, Islamic financing have their own way to fiancé the mortgages which is permissible in Islamic Principles. Islamic Principles prohibits the payment and collection of interest and highly complex instrument such as
derivatives and other “creative” accounting practice are banned. Transaction must be backed by real asset that avoiding repackaged sub-prime mortgages. The credit rating
under Islamic banking and finance evaluates real term business potential and growth trends, instead of evaluating manipulation asset value which causing damages to the
credit and economy. |
| first_indexed | 2024-07-04T05:19:05Z |
| format | Monograph |
| id | uum-2461 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T05:19:05Z |
| publishDate | 2009 |
| publisher | Universiti Utara Malaysia |
| record_format | eprints |
| spelling | uum-24612016-04-25T06:26:00Z https://repo.uum.edu.my/id/eprint/2461/ Sub-prime issue: How Islamic financing able to solve the problem during financial crisis Daud, Mohd Hapandi HG Finance Sub-prime crisis rise due to imprudent credit practice by the lender beside the other factors. Unethical element consist in the conventional financial system such as permissible speculation and allowable selling of debt’s mortgages via asset securitization created the situation become worse. In Islam, Islamic financing have their own way to fiancé the mortgages which is permissible in Islamic Principles. Islamic Principles prohibits the payment and collection of interest and highly complex instrument such as derivatives and other “creative” accounting practice are banned. Transaction must be backed by real asset that avoiding repackaged sub-prime mortgages. The credit rating under Islamic banking and finance evaluates real term business potential and growth trends, instead of evaluating manipulation asset value which causing damages to the credit and economy. Universiti Utara Malaysia 2009-01-10 Monograph NonPeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/2461/1/Subprime_Issue-How_Islamic_Financing_Able_To_Solve_The_Problem_during_Crisis.pdf Daud, Mohd Hapandi (2009) Sub-prime issue: How Islamic financing able to solve the problem during financial crisis. Discussion Paper. Universiti Utara Malaysia. (Unpublished) |
| spellingShingle | HG Finance Daud, Mohd Hapandi Sub-prime issue: How Islamic financing able to solve the problem during financial crisis |
| title | Sub-prime issue: How Islamic financing able to solve the
problem during financial crisis |
| title_full | Sub-prime issue: How Islamic financing able to solve the
problem during financial crisis |
| title_fullStr | Sub-prime issue: How Islamic financing able to solve the
problem during financial crisis |
| title_full_unstemmed | Sub-prime issue: How Islamic financing able to solve the
problem during financial crisis |
| title_short | Sub-prime issue: How Islamic financing able to solve the
problem during financial crisis |
| title_sort | sub prime issue how islamic financing able to solve the problem during financial crisis |
| topic | HG Finance |
| url | https://repo.uum.edu.my/id/eprint/2461/1/Subprime_Issue-How_Islamic_Financing_Able_To_Solve_The_Problem_during_Crisis.pdf |
| work_keys_str_mv | AT daudmohdhapandi subprimeissuehowislamicfinancingabletosolvetheproblemduringfinancialcrisis |