Special report: the shariah debate on Islamic financing
ZAKI (not his real name) is a former civil servant who was declared bankrupt by the civil courts when he did not repay hundreds of thousands of ringgit to a bank.It all started when he was offered a bai’ bithaman ajil (BBA) scheme by a local bank to buy a new home costing RM90,485. He took up the Is...
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| Format: | Newspaper |
| Language: | English |
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The Edge Market
2015
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| Online Access: | https://repo.uum.edu.my/id/eprint/26765/1/2015%2030%20October%20The%20Edge%20Malaysia%20Special%20Report_%20The%20shariah%20debate%20on%20Islamic%20financing.pdf |
| _version_ | 1825805532732063744 |
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| author | Md Dahlan, Nuarrual Hilal |
| author_facet | Md Dahlan, Nuarrual Hilal |
| author_sort | Md Dahlan, Nuarrual Hilal |
| collection | UUM |
| description | ZAKI (not his real name) is a former civil servant who was declared bankrupt by the civil courts when he did not repay hundreds of thousands of ringgit to a bank.It all started when he was offered a bai’ bithaman ajil (BBA) scheme by a local bank to buy a new home costing RM90,485. He took up the Islamic facility and was expected to repay the bank over 25 years. When the unlicensed developer abandoned the project, Zaki stopped paying his monthly bank instalments.As a result, the bank recalled the facility and filed a civil suit against Zaki. The claim amount was RM240,610.16, close to three times the buying price of the home, even though the bank had only disbursed RM36,000 to the errant developer. |
| first_indexed | 2024-07-04T06:33:53Z |
| format | Newspaper |
| id | uum-26765 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-10-01T01:43:27Z |
| publishDate | 2015 |
| publisher | The Edge Market |
| record_format | eprints |
| spelling | uum-267652024-08-15T05:21:29Z https://repo.uum.edu.my/id/eprint/26765/ Special report: the shariah debate on Islamic financing Md Dahlan, Nuarrual Hilal KZ Law of Nations ZAKI (not his real name) is a former civil servant who was declared bankrupt by the civil courts when he did not repay hundreds of thousands of ringgit to a bank.It all started when he was offered a bai’ bithaman ajil (BBA) scheme by a local bank to buy a new home costing RM90,485. He took up the Islamic facility and was expected to repay the bank over 25 years. When the unlicensed developer abandoned the project, Zaki stopped paying his monthly bank instalments.As a result, the bank recalled the facility and filed a civil suit against Zaki. The claim amount was RM240,610.16, close to three times the buying price of the home, even though the bank had only disbursed RM36,000 to the errant developer. The Edge Market 2015-10-30 Newspaper NonPeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/26765/1/2015%2030%20October%20The%20Edge%20Malaysia%20Special%20Report_%20The%20shariah%20debate%20on%20Islamic%20financing.pdf Md Dahlan, Nuarrual Hilal (2015) Special report: the shariah debate on Islamic financing. (30 October 2015). in The Edge Market, Malaysia. https://www.theedgemarkets.com/article/special-report-shariah-debate-islamic-financing |
| spellingShingle | KZ Law of Nations Md Dahlan, Nuarrual Hilal Special report: the shariah debate on Islamic financing |
| title | Special report: the shariah debate on Islamic financing |
| title_full | Special report: the shariah debate on Islamic financing |
| title_fullStr | Special report: the shariah debate on Islamic financing |
| title_full_unstemmed | Special report: the shariah debate on Islamic financing |
| title_short | Special report: the shariah debate on Islamic financing |
| title_sort | special report the shariah debate on islamic financing |
| topic | KZ Law of Nations |
| url | https://repo.uum.edu.my/id/eprint/26765/1/2015%2030%20October%20The%20Edge%20Malaysia%20Special%20Report_%20The%20shariah%20debate%20on%20Islamic%20financing.pdf |
| work_keys_str_mv | AT mddahlannuarrualhilal specialreporttheshariahdebateonislamicfinancing |