Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government

The role of consumer credit in modern society is vital particularly when poor economic conditions prevail and cost of living soars. In view of the difficulties to access credit, low and middle-income earners commonly pledge their valuables in exchange for cash by resorting to pawnshops which are oft...

Full description

Bibliographic Details
Main Authors:	Kassim, Salina, Hassan, Rusni, Abu Bakar, Elistina, Ilias, Ibtisam @ Ilyana
Format:	Conference or Workshop Item
Language:	English English
Published:	2018
Subjects:	HG Finance HG3368 Islamic Banking and Finance HG3691 Credit KPG Malaysia
Online Access:	http://irep.iium.edu.my/64686/ http://irep.iium.edu.my/64686/ http://irep.iium.edu.my/64686/1/DSK%20Colombo%20PROTECTING%20PAWNERS%201.pdf http://irep.iium.edu.my/64686/2/LOA-CIMSSR-00398.pdf

id	iium-64686
recordtype	eprints
spelling	iium-646862018-07-25T03:56:24Z http://irep.iium.edu.my/64686/ Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government Kassim, Salina Hassan, Rusni Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana HG Finance HG3368 Islamic Banking and Finance HG3691 Credit KPG Malaysia The role of consumer credit in modern society is vital particularly when poor economic conditions prevail and cost of living soars. In view of the difficulties to access credit, low and middle-income earners commonly pledge their valuables in exchange for cash by resorting to pawnshops which are often labeled as a bank for poor. In this context, the role of the regulator is highly critical and indispensable since the poor being on the disadvantage side of having low bargaining power. This study examines the role of the Ministry of Housing and Local Government in Malaysia which has been mandated to safeguard the interest of pawners under conventional pawnbroking in Malaysia. The scope of discussion covers its institutional set-up, organisational structure while regulatory powers concentrate on licensing and enforcement based on the relevant statutory provisions. Several shortcomings are identified in respect of licensing requirements, enforcement powers and human resources. The study finds that entrusting this Ministry with consumer protection function is inappropriate, thus several recommendations to enhance protection for this class of consumer are proposed. 2018 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/64686/1/DSK%20Colombo%20PROTECTING%20PAWNERS%201.pdf application/pdf en http://irep.iium.edu.my/64686/2/LOA-CIMSSR-00398.pdf Kassim, Salina and Hassan, Rusni and Abu Bakar, Elistina and Ilias, Ibtisam @ Ilyana (2018) Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government. 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	HG Finance HG3368 Islamic Banking and Finance HG3691 Credit KPG Malaysia
spellingShingle	HG Finance HG3368 Islamic Banking and Finance HG3691 Credit KPG Malaysia Kassim, Salina Hassan, Rusni Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government
description	The role of consumer credit in modern society is vital particularly when poor economic conditions prevail and cost of living soars. In view of the difficulties to access credit, low and middle-income earners commonly pledge their valuables in exchange for cash by resorting to pawnshops which are often labeled as a bank for poor. In this context, the role of the regulator is highly critical and indispensable since the poor being on the disadvantage side of having low bargaining power. This study examines the role of the Ministry of Housing and Local Government in Malaysia which has been mandated to safeguard the interest of pawners under conventional pawnbroking in Malaysia. The scope of discussion covers its institutional set-up, organisational structure while regulatory powers concentrate on licensing and enforcement based on the relevant statutory provisions. Several shortcomings are identified in respect of licensing requirements, enforcement powers and human resources. The study finds that entrusting this Ministry with consumer protection function is inappropriate, thus several recommendations to enhance protection for this class of consumer are proposed.
format	Conference or Workshop Item
author	Kassim, Salina Hassan, Rusni Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana
author_facet	Kassim, Salina Hassan, Rusni Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana
author_sort	Kassim, Salina
title	Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government
title_short	Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government
title_full	Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government
title_fullStr	Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government
title_full_unstemmed	Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government
title_sort	protecting the pawners: appraising the role of ministry of urban wellbeing, housing and local government
publishDate	2018
url	http://irep.iium.edu.my/64686/ http://irep.iium.edu.my/64686/ http://irep.iium.edu.my/64686/1/DSK%20Colombo%20PROTECTING%20PAWNERS%201.pdf http://irep.iium.edu.my/64686/2/LOA-CIMSSR-00398.pdf
first_indexed	2023-09-18T21:31:47Z
last_indexed	2023-09-18T21:31:47Z
_version_	1777412559790407680

Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government

Similar Items