Tackling responsible lending obligation in Malaysia: a diverse approach

Tackling responsible lending obligation in Malaysia: a diverse approach

This paper examines responsible lending obligation among various credit providers under the present legal and institutional framework in Malaysia. The scope of consumer credit industry includes banking, hire-purchase, moneylending and pawnbroking. The study finds an inconsistent approach in deali...

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Main Authors: Hassan, Rusni, Kassim, Salina, Abu Bakar, Elistina, Ilias, Ibtisam @ Ilyana, Hingun, Mohsin
Format: Article
Language:English
Published: Science and Engineering Research Support Society (SERSC) 2019
Subjects:
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/75586/
http://irep.iium.edu.my/75586/
http://irep.iium.edu.my/75586/7/75586%20-%20tackling%20responsible%20lending%20obligation%20in%20Malaysia.pdf
id iium-75586
recordtype eprints
spelling iium-755862019-11-12T05:03:06Z http://irep.iium.edu.my/75586/ Tackling responsible lending obligation in Malaysia: a diverse approach Hassan, Rusni Kassim, Salina Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana Hingun, Mohsin HG3368 Islamic Banking and Finance This paper examines responsible lending obligation among various credit providers under the present legal and institutional framework in Malaysia. The scope of consumer credit industry includes banking, hire-purchase, moneylending and pawnbroking. The study finds an inconsistent approach in dealing with responsible lending whereby only banking institutions regulated by the Central Bank of Malaysia are subject to this obligation while non-bank institutions are not. Several recommendations for future improvements are proposed by referring to the practice of several other jurisdictions. The suggestions will help the policymakers to seriously consider imposing this obligation on all credit providers. Eventually, the protection against the irresponsible lending practice is accorded to a wide range of financial consumers in consumer credit industry in Malaysia. Science and Engineering Research Support Society (SERSC) 2019-10 Article PeerReviewed application/pdf en http://irep.iium.edu.my/75586/7/75586%20-%20tackling%20responsible%20lending%20obligation%20in%20Malaysia.pdf Hassan, Rusni and Kassim, Salina and Abu Bakar, Elistina and Ilias, Ibtisam @ Ilyana and Hingun, Mohsin (2019) Tackling responsible lending obligation in Malaysia: a diverse approach. International Journal of Advanced Science and Technology, 28 (8s, (Special issue in Applied Research on Business , Science and Technology)). pp. 314-321. ISSN 2005-4238 E-ISSN 2207-6360 http://sersc.org/journals/index.php/IJAST/article/view/887
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
topic HG3368 Islamic Banking and Finance
spellingShingle HG3368 Islamic Banking and Finance
Hassan, Rusni
Kassim, Salina
Abu Bakar, Elistina
Ilias, Ibtisam @ Ilyana
Hingun, Mohsin
Tackling responsible lending obligation in Malaysia: a diverse approach
description This paper examines responsible lending obligation among various credit providers under the present legal and institutional framework in Malaysia. The scope of consumer credit industry includes banking, hire-purchase, moneylending and pawnbroking. The study finds an inconsistent approach in dealing with responsible lending whereby only banking institutions regulated by the Central Bank of Malaysia are subject to this obligation while non-bank institutions are not. Several recommendations for future improvements are proposed by referring to the practice of several other jurisdictions. The suggestions will help the policymakers to seriously consider imposing this obligation on all credit providers. Eventually, the protection against the irresponsible lending practice is accorded to a wide range of financial consumers in consumer credit industry in Malaysia.
format Article
author Hassan, Rusni
Kassim, Salina
Abu Bakar, Elistina
Ilias, Ibtisam @ Ilyana
Hingun, Mohsin
author_facet Hassan, Rusni
Kassim, Salina
Abu Bakar, Elistina
Ilias, Ibtisam @ Ilyana
Hingun, Mohsin
author_sort Hassan, Rusni
title Tackling responsible lending obligation in Malaysia: a diverse approach
title_short Tackling responsible lending obligation in Malaysia: a diverse approach
title_full Tackling responsible lending obligation in Malaysia: a diverse approach
title_fullStr Tackling responsible lending obligation in Malaysia: a diverse approach
title_full_unstemmed Tackling responsible lending obligation in Malaysia: a diverse approach
title_sort tackling responsible lending obligation in malaysia: a diverse approach
publisher Science and Engineering Research Support Society (SERSC)
publishDate 2019
url http://irep.iium.edu.my/75586/
http://irep.iium.edu.my/75586/
http://irep.iium.edu.my/75586/7/75586%20-%20tackling%20responsible%20lending%20obligation%20in%20Malaysia.pdf
first_indexed 2023-09-18T21:46:56Z
last_indexed 2023-09-18T21:46:56Z
_version_ 1777413512207794176

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