Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences

Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences

Financial consumers are not immune from exploitation, malpractices and oppressive treatment of financial service providers. In fact, they require greater protection than consumers of other types of goods and services for a variety of reasons. Prevailing problems endured by financial consumers are...

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Main Authors: Hassan, Rusni, Kassim, Salina, Abu Bakar, Elistina, Ilias, Ibtisam @ Ilyana
Format: Conference or Workshop Item
Language:English
English
Published: 2018
Subjects:
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/64684/
http://irep.iium.edu.my/64684/
http://irep.iium.edu.my/64684/1/LOA-CIMSSR-00397-Rusni.pdf
http://irep.iium.edu.my/64684/11/64684_Institutional%20Framework%20for%20Consumer.pdf
id iium-64684
recordtype eprints
spelling iium-646842018-07-25T03:38:54Z http://irep.iium.edu.my/64684/ Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences Hassan, Rusni Kassim, Salina Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana HG3368 Islamic Banking and Finance Financial consumers are not immune from exploitation, malpractices and oppressive treatment of financial service providers. In fact, they require greater protection than consumers of other types of goods and services for a variety of reasons. Prevailing problems endured by financial consumers are exacerbated by the absence of a single authority in Malaysian consumer credit industry to protect their rights and interests. This paper therefore scrutinizes the single institutional framework practised by three selected jurisdictions namely Australia, the United Kingdom and South Africa. The research concludes the viability of establishing a single institution to govern consumer credit industry. Necessary modification and arrangement however is pertinent to suit with the local circumstances. This new arrangement will benefit financial consumers in consumer credit industry by ensuring adequate and equal protection. Undoubtedly, strengthened financial consumer protection regime will increase market confidence and ultimately lead to financial stability and economic growth. 2018-08-20 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/64684/1/LOA-CIMSSR-00397-Rusni.pdf application/pdf en http://irep.iium.edu.my/64684/11/64684_Institutional%20Framework%20for%20Consumer.pdf Hassan, Rusni and Kassim, Salina and Abu Bakar, Elistina and Ilias, Ibtisam @ Ilyana (2018) Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences. In: The 7th Global Conference on Business and Social Sciences (GCBSS 2018), 20th-21st August 2018, Colombo, Sri Lanka. (Unpublished) http://gcbss.org/cimssr2018/
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
English
topic HG3368 Islamic Banking and Finance
spellingShingle HG3368 Islamic Banking and Finance
Hassan, Rusni
Kassim, Salina
Abu Bakar, Elistina
Ilias, Ibtisam @ Ilyana
Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences
description Financial consumers are not immune from exploitation, malpractices and oppressive treatment of financial service providers. In fact, they require greater protection than consumers of other types of goods and services for a variety of reasons. Prevailing problems endured by financial consumers are exacerbated by the absence of a single authority in Malaysian consumer credit industry to protect their rights and interests. This paper therefore scrutinizes the single institutional framework practised by three selected jurisdictions namely Australia, the United Kingdom and South Africa. The research concludes the viability of establishing a single institution to govern consumer credit industry. Necessary modification and arrangement however is pertinent to suit with the local circumstances. This new arrangement will benefit financial consumers in consumer credit industry by ensuring adequate and equal protection. Undoubtedly, strengthened financial consumer protection regime will increase market confidence and ultimately lead to financial stability and economic growth.
format Conference or Workshop Item
author Hassan, Rusni
Kassim, Salina
Abu Bakar, Elistina
Ilias, Ibtisam @ Ilyana
author_facet Hassan, Rusni
Kassim, Salina
Abu Bakar, Elistina
Ilias, Ibtisam @ Ilyana
author_sort Hassan, Rusni
title Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences
title_short Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences
title_full Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences
title_fullStr Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences
title_full_unstemmed Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences
title_sort institutional framework for consumer credit industry in malaysia: learning from australia, the united kingdom and south africa experiences
publishDate 2018
url http://irep.iium.edu.my/64684/
http://irep.iium.edu.my/64684/
http://irep.iium.edu.my/64684/1/LOA-CIMSSR-00397-Rusni.pdf
http://irep.iium.edu.my/64684/11/64684_Institutional%20Framework%20for%20Consumer.pdf
first_indexed 2023-09-18T21:31:47Z
last_indexed 2023-09-18T21:31:47Z
_version_ 1777412559648849920

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