Md Dahlan, Nuarrual Hilal (2015) Special report: the shariah debate on Islamic financing. (30 October 2015). in The Edge Market, Malaysia.

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Abstract

ZAKI (not his real name) is a former civil servant who was declared bankrupt by the civil courts when he did not repay hundreds of thousands of ringgit to a bank.It all started when he was offered a bai’ bithaman ajil (BBA) scheme by a local bank to buy a new home costing RM90,485. He took up the Islamic facility and was expected to repay the bank over 25 years. When the unlicensed developer abandoned the project, Zaki stopped paying his monthly bank instalments.As a result, the bank recalled the facility and filed a civil suit against Zaki. The claim amount was RM240,610.16, close to three times the buying price of the home, even though the bank had only disbursed RM36,000 to the errant developer.

Item Type:	Newspaper
Subjects:	K Law > KZ Law of Nations
Divisions:	School of Law
Depositing User:	Mrs. Norazmilah Yaakub
Date Deposited:	24 Feb 2020 00:04
Last Modified:	24 Feb 2020 00:04
URI:	https://repo.uum.edu.my/id/eprint/26765

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