Abandoned housing projects in Malaysia and the prospect of DP: an overview

Owning a house is a dream that every individual cherishes. In Malaysia, both the banking sector and the government have expended relentless efforts to ensure Malaysians have access to financing and affordable houses. These efforts are however being derailed by alarming cases of abandoned housing pro...

Full description

Bibliographic Details
Main Authors:	Abdul Razak, Dzuljastri, Mohammed, Mustafa Omar, Tarique, Kazi Md.
Format:	Article
Language:	English
Published:	ELSEVIER 2015
Subjects:	HG4001 Financial management. Business finance. Corporation finance.
Online Access:	http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/1/Elsevier_-_AHP_and_DP.pdf

id	iium-47938
recordtype	eprints
spelling	iium-479382016-07-20T08:21:36Z http://irep.iium.edu.my/47938/ Abandoned housing projects in Malaysia and the prospect of DP: an overview Abdul Razak, Dzuljastri Mohammed, Mustafa Omar Tarique, Kazi Md. HG4001 Financial management. Business finance. Corporation finance. Owning a house is a dream that every individual cherishes. In Malaysia, both the banking sector and the government have expended relentless efforts to ensure Malaysians have access to financing and affordable houses. These efforts are however being derailed by alarming cases of abandoned housing projects (AHPs) that have affected a substantial number of house buyers. Several reasons have been cited for the AHPs. The issues of the Islamic banking debt based home financing products have remained prominent. The literature argues that these products such as BBA and Tawarruq have embedded features of transferring risks and liabilities to home buyers. This problem becomes acute in cases of AHPs. Musharakah Mutanaqisah or Diminishing Partnership (DP) is suggested as the superior option for Islamic home financing schemes. However, there is hardly any work that has investigated the extent to which DP can provide remedy to address the problem of abandoned housing projects. The present paper adopts content analysis and it shows that DP has a bright prospect of mitigating the problem of abandoned housing projects. The paper is concluded with suggestions for future research. ELSEVIER 2015 Article PeerReviewed application/pdf en http://irep.iium.edu.my/47938/1/Elsevier_-_AHP_and_DP.pdf Abdul Razak, Dzuljastri and Mohammed, Mustafa Omar and Tarique, Kazi Md. (2015) Abandoned housing projects in Malaysia and the prospect of DP: an overview. Procedia Economics and Finance , 31. pp. 813-822. ISSN 2212-5671 http://creativecommons.org/licenses doi: 10.1016/S2212-5671(15)01171-5
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG4001 Financial management. Business finance. Corporation finance.
spellingShingle	HG4001 Financial management. Business finance. Corporation finance. Abdul Razak, Dzuljastri Mohammed, Mustafa Omar Tarique, Kazi Md. Abandoned housing projects in Malaysia and the prospect of DP: an overview
description	Owning a house is a dream that every individual cherishes. In Malaysia, both the banking sector and the government have expended relentless efforts to ensure Malaysians have access to financing and affordable houses. These efforts are however being derailed by alarming cases of abandoned housing projects (AHPs) that have affected a substantial number of house buyers. Several reasons have been cited for the AHPs. The issues of the Islamic banking debt based home financing products have remained prominent. The literature argues that these products such as BBA and Tawarruq have embedded features of transferring risks and liabilities to home buyers. This problem becomes acute in cases of AHPs. Musharakah Mutanaqisah or Diminishing Partnership (DP) is suggested as the superior option for Islamic home financing schemes. However, there is hardly any work that has investigated the extent to which DP can provide remedy to address the problem of abandoned housing projects. The present paper adopts content analysis and it shows that DP has a bright prospect of mitigating the problem of abandoned housing projects. The paper is concluded with suggestions for future research.
format	Article
author	Abdul Razak, Dzuljastri Mohammed, Mustafa Omar Tarique, Kazi Md.
author_facet	Abdul Razak, Dzuljastri Mohammed, Mustafa Omar Tarique, Kazi Md.
author_sort	Abdul Razak, Dzuljastri
title	Abandoned housing projects in Malaysia and the prospect of DP: an overview
title_short	Abandoned housing projects in Malaysia and the prospect of DP: an overview
title_full	Abandoned housing projects in Malaysia and the prospect of DP: an overview
title_fullStr	Abandoned housing projects in Malaysia and the prospect of DP: an overview
title_full_unstemmed	Abandoned housing projects in Malaysia and the prospect of DP: an overview
title_sort	abandoned housing projects in malaysia and the prospect of dp: an overview
publisher	ELSEVIER
publishDate	2015
url	http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/1/Elsevier_-_AHP_and_DP.pdf
first_indexed	2023-09-18T21:08:08Z
last_indexed	2023-09-18T21:08:08Z
_version_	1777411071273861120

Abandoned housing projects in Malaysia and the prospect of DP: an overview

Similar Items