Consumer Rights Act 2015(United Kingdom):Is it a good model in practising banking consumers from unfair terms in Islamic banking consumer contracts in Malaysia? = Consumer Rights Act 2015 (United Kingdom): Adakah ia model yang baik perlindungan konsumer perbankan daripada terma tidak adil dalam kontrak konsumer perbankan Islam di Malaysia?
As the Islamic banking industry becomes more advanced and complex, it is crucial that transactions in acquiring goods and services are reduced in writing of whatever terms and conditions agreed upon. These terms and conditions could potentially be deemed as unfair when relied on, would cause detri...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
UKM Press
2018
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/74917/ http://irep.iium.edu.my/74917/ http://irep.iium.edu.my/74917/6/74917%20Consumer%20Rights%20Act%202015.pdf |
| Summary: | As the Islamic banking industry becomes more advanced and complex, it is crucial that transactions in acquiring goods
and services are reduced in writing of whatever terms and conditions agreed upon. These terms and conditions could
potentially be deemed as unfair when relied on, would cause detriment (whether financial or otherwise) to banking
consumers and, can cause significant imbalance in the rights and obligations of contracting parties. The objective of
this article is to discuss the current flaws and highlight the inadequacies of consumer protection laws on unfair terms
in consumer contracts in Malaysia. Findings in this study reveals that the abuse of power by the Islamic banks is due
to one-sided contract which is not negotiated between the contracting parties. Furthermore, it is offered on a ‘take it or
leave it’ basis and can make it difficult for banking consumers to discern risks in the contracts. Using content analysis
and doctrinal legal method, this article analyses the potential of unfair terms in Islamic banking consumer contracts and
to consider whether the wider scope of fairness and transparency assessment under the Consumer Rights Act 2015 (CRA)
of the United Kingdom could provide a potential practical solution. Therefore, this article recommends that a statutory
controlling mechanism such like the CRA of the United Kingdom, should be adopted to protect banking consumers from
unfair contract terms in Malaysia. This article intends to contribute to policy priorities for the Malaysian government
towards a better protection for banking consumers from unfair contract terms.
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Memandangkan perbankan Islam menjadi semakin maju dan kompleks, maka adalah menjadi suatu keperluan untuk
semua transaksi bagi pembiayaan membeli barangan dan perkhidmatan dimeterai secara perjanjian bertulis. Terma
dan syarat yang terkandung dalam perjanjian bertulis itu mempunyai kebarangkalian yang tinggi untuk menjadi berat
sebelah dan menyebabkan kerugian (sama ada daripada segi kewangan atau yang berkaitan) kepada pengguna. Objektif
artikel ini adalah untuk membincangkan kekurangan dan kelemahan akta dalam melindungi hak pengguna di Malaysia.
Hasil kajian ini menunjukkan kebanyakan perjanjian adalah berat sebelah dan menyebelahi institusi perbankan Islam.
Pengguna tidak mempunyai pilihan lain sama ada menerima tawaran ataupun tidak dan ini boleh menyulitkan mereka
untuk mengenal pasti kemungkinan risiko yang bakal ditanggung. Berdasarkan beberapa penemuan akta dan kes-kes
berkaitan, artikel ini telah membuktikan keberkesanan ‘fairness and transparency test’ di dalam Consumer Rights
Act (UK) 2015 (CRA) yang mempunyai asas yang kukuh untuk dijadikan penyelesaian yang praktikal. Oleh itu, adalah
disarankan agar kerajaan dapat meluluskan suatu akta yang diadaptasi daripada CRA ini bagi tujuan melindungi pihak
pengguna dan menjadikannya prioriti di dalam menentukan polisi bagi melindungi pihak pengguna daripada kontrak
yang berat sebelah. |
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