Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism

This paper examines the roles of Ministry of Domestic Trade, Co-operatives and Consumerism in protecting the hirer’s interest under the hire purchase transaction. In addition to a rigorous scrutiny on its regulatory powers and functions conferred by the Hire Purchase Act 1967, the ministry’s instit...

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Main Authors:	Ilias, Ibtisam@Ilyana, Hassan, Rusni, Kassim, Salina, Abu Bakar, Elistina
Format:	Conference or Workshop Item
Language:	English
Published:	2017
Subjects:	HG Finance HG3368 Islamic Banking and Finance HG3691 Credit K Law (General) KPG Malaysia
Online Access:	http://irep.iium.edu.my/64692/ http://irep.iium.edu.my/64692/15/64692%20Protection%20of%20hirer%27s%20interest.pdf

id	iium-64692
recordtype	eprints
spelling	iium-646922018-08-29T08:29:06Z http://irep.iium.edu.my/64692/ Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism Ilias, Ibtisam@Ilyana Hassan, Rusni Kassim, Salina Abu Bakar, Elistina HG Finance HG3368 Islamic Banking and Finance HG3691 Credit K Law (General) KPG Malaysia This paper examines the roles of Ministry of Domestic Trade, Co-operatives and Consumerism in protecting the hirer’s interest under the hire purchase transaction. In addition to a rigorous scrutiny on its regulatory powers and functions conferred by the Hire Purchase Act 1967, the ministry’s institutional and organisational set-up are also discussed in detail with a view of understanding the internal capacity in performing the functions and exercising the power. In implementing its regulatory role, the powers to issue regulation and to enforce the law via criminal action are adequately dealt with. This study discloses that the present institutional framework lacks one fundamental aspect of protection namely absence of licensing regime. Enforcement aspect is also tainted with some weaknesses in terms of nature of enforcement action to be pursued which merely relies on criminal action and the issue of human resources. The study therefore recommends firstly the establishment of licensing regime; secondly the incorporation of administrative and civil action as an addition to the existing enforcement power and thirdly the strengthening of current enforcement machineries. 2017 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/64692/15/64692%20Protection%20of%20hirer%27s%20interest.pdf Ilias, Ibtisam@Ilyana and Hassan, Rusni and Kassim, Salina and Abu Bakar, Elistina (2017) Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism. In: 21st MACFEA (The Malaysian Consumer and Family Economics Association) National Seminar 2017, 14th-15th December 2017, Kuala Lumpur. (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG Finance HG3368 Islamic Banking and Finance HG3691 Credit K Law (General) KPG Malaysia
spellingShingle	HG Finance HG3368 Islamic Banking and Finance HG3691 Credit K Law (General) KPG Malaysia Ilias, Ibtisam@Ilyana Hassan, Rusni Kassim, Salina Abu Bakar, Elistina Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism
description	This paper examines the roles of Ministry of Domestic Trade, Co-operatives and Consumerism in protecting the hirer’s interest under the hire purchase transaction. In addition to a rigorous scrutiny on its regulatory powers and functions conferred by the Hire Purchase Act 1967, the ministry’s institutional and organisational set-up are also discussed in detail with a view of understanding the internal capacity in performing the functions and exercising the power. In implementing its regulatory role, the powers to issue regulation and to enforce the law via criminal action are adequately dealt with. This study discloses that the present institutional framework lacks one fundamental aspect of protection namely absence of licensing regime. Enforcement aspect is also tainted with some weaknesses in terms of nature of enforcement action to be pursued which merely relies on criminal action and the issue of human resources. The study therefore recommends firstly the establishment of licensing regime; secondly the incorporation of administrative and civil action as an addition to the existing enforcement power and thirdly the strengthening of current enforcement machineries.
format	Conference or Workshop Item
author	Ilias, Ibtisam@Ilyana Hassan, Rusni Kassim, Salina Abu Bakar, Elistina
author_facet	Ilias, Ibtisam@Ilyana Hassan, Rusni Kassim, Salina Abu Bakar, Elistina
author_sort	Ilias, Ibtisam@Ilyana
title	Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism
title_short	Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism
title_full	Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism
title_fullStr	Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism
title_full_unstemmed	Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism
title_sort	protection of hirer's interest under hire purchase transaction in malaysia: the roles of ministry of domestic trade, co-operatives and consumerism
publishDate	2017
url	http://irep.iium.edu.my/64692/ http://irep.iium.edu.my/64692/15/64692%20Protection%20of%20hirer%27s%20interest.pdf
first_indexed	2023-09-18T21:31:48Z
last_indexed	2023-09-18T21:31:48Z
_version_	1777412560362930176

Protection of hirer's interest under hire purchase transaction in Malaysia: the roles of ministry of domestic trade, co-operatives and consumerism

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