Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects
There have been many Islamic Home products introduced in Malaysia since the establishment of its first Islamic bank – Bank Islam (M) Berhad in early 1980s. However, hitherto, it is still doubtful that these products have fully complied with Islamic law. This is evident in the issue of justice and gh...
| Main Authors: | , , |
|---|---|
| Format: | Conference or Workshop Item |
| Language: | English English |
| Published: |
2018
|
| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/25387/1/UUMILC2017F032.pdf https://repo.uum.edu.my/id/eprint/25387/2/ILC2017_Ijarah%20Mausufah_ppt%20%281%29.pdf |
| _version_ | 1803628923122089984 |
|---|---|
| author | Md Dahlan, Nuarrual Hilal Mohd Noor, Fauziah Shuib, Mohd Sollehudin |
| author_facet | Md Dahlan, Nuarrual Hilal Mohd Noor, Fauziah Shuib, Mohd Sollehudin |
| author_sort | Md Dahlan, Nuarrual Hilal |
| collection | UUM |
| description | There have been many Islamic Home products introduced in Malaysia since the establishment of its first Islamic bank – Bank Islam (M) Berhad in early 1980s. However, hitherto, it is still doubtful that these products have fully complied with Islamic law. This is evident in the issue of justice and gharar in face of the problems of abandoned housing projects. This paper discusses Ijarah Mausufah Fi Zimmah (IMFZ) as one of the Islamic Home Finance products that are currently applicable in Malaysia. The discussion entails the issues of abandoned housing projects and examines as to whether the terms in IMFZ can fully deal with the issues. This paper used shariah (Islamic Law), legal doctrinal and qualitative research methodologies. This paper shows that the current applicable terms in IMFZ are inadequate and warranted them to be replaced with terms that provide better equitable protection to aggrieved purchaser in abandoned housing projects, comply with the shariah and dispense justice to the contracting parties. The outcome of this paper will improve the theory and practice of Islamic banking industry in dealing with this issue in Malaysia. |
| first_indexed | 2024-07-04T06:29:40Z |
| format | Conference or Workshop Item |
| id | uum-25387 |
| institution | Universiti Utara Malaysia |
| language | English English |
| last_indexed | 2024-07-04T06:29:40Z |
| publishDate | 2018 |
| record_format | dspace |
| spelling | uum-253872019-01-16T03:30:51Z https://repo.uum.edu.my/id/eprint/25387/ Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects Md Dahlan, Nuarrual Hilal Mohd Noor, Fauziah Shuib, Mohd Sollehudin KZ Law of Nations There have been many Islamic Home products introduced in Malaysia since the establishment of its first Islamic bank – Bank Islam (M) Berhad in early 1980s. However, hitherto, it is still doubtful that these products have fully complied with Islamic law. This is evident in the issue of justice and gharar in face of the problems of abandoned housing projects. This paper discusses Ijarah Mausufah Fi Zimmah (IMFZ) as one of the Islamic Home Finance products that are currently applicable in Malaysia. The discussion entails the issues of abandoned housing projects and examines as to whether the terms in IMFZ can fully deal with the issues. This paper used shariah (Islamic Law), legal doctrinal and qualitative research methodologies. This paper shows that the current applicable terms in IMFZ are inadequate and warranted them to be replaced with terms that provide better equitable protection to aggrieved purchaser in abandoned housing projects, comply with the shariah and dispense justice to the contracting parties. The outcome of this paper will improve the theory and practice of Islamic banking industry in dealing with this issue in Malaysia. 2018 Conference or Workshop Item PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/25387/1/UUMILC2017F032.pdf application/pdf en https://repo.uum.edu.my/id/eprint/25387/2/ILC2017_Ijarah%20Mausufah_ppt%20%281%29.pdf Md Dahlan, Nuarrual Hilal and Mohd Noor, Fauziah and Shuib, Mohd Sollehudin (2018) Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects. In: 9th Universiti Utara Malaysia International Legal Conference 2017 (ILC 2017) The European Proceedings of Social & Behavioural Sciences, 23-24 September 2017, EDC Hotels & Resorts, UUM Sintok, Kedah.. https://www.futureacademy.org.uk/files/images/upload/UUMILC2017F032.pdf doi:10.15405/epsbs.2018.12.03.32 doi:10.15405/epsbs.2018.12.03.32 |
| spellingShingle | KZ Law of Nations Md Dahlan, Nuarrual Hilal Mohd Noor, Fauziah Shuib, Mohd Sollehudin Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects |
| title | Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects |
| title_full | Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects |
| title_fullStr | Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects |
| title_full_unstemmed | Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects |
| title_short | Ijarah Mausufah Fi Zimmah Islamic Home Finance In Dealing With Abandoned Housing Projects In Malaysia: Features, Issues, And Prospects |
| title_sort | ijarah mausufah fi zimmah islamic home finance in dealing with abandoned housing projects in malaysia features issues and prospects |
| topic | KZ Law of Nations |
| url | https://repo.uum.edu.my/id/eprint/25387/1/UUMILC2017F032.pdf https://repo.uum.edu.my/id/eprint/25387/2/ILC2017_Ijarah%20Mausufah_ppt%20%281%29.pdf |
| work_keys_str_mv | AT mddahlannuarrualhilal ijarahmausufahfizimmahislamichomefinanceindealingwithabandonedhousingprojectsinmalaysiafeaturesissuesandprospects AT mohdnoorfauziah ijarahmausufahfizimmahislamichomefinanceindealingwithabandonedhousingprojectsinmalaysiafeaturesissuesandprospects AT shuibmohdsollehudin ijarahmausufahfizimmahislamichomefinanceindealingwithabandonedhousingprojectsinmalaysiafeaturesissuesandprospects |