Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia

Mohd Fauzi, Puteri Nur Farah Naadia and Laldin, Mohamad Akram (2019) Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia. In: International Conference on Built Environment and Engineering 2018 - “Enhancing Construction Industry Through IR4.0” (IConBEE2018), 29th-30th Oct. 2018, Johor.

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Abstract

In Islam, the presence of risk is not only acknowledged but steps need to be taken to manage it properly through the process of risk management. One of the processes is the identification of risk which involves classification and types of risk. Specifically, in the development of properties, the presence of risks is inevitable. Improper management of risk especially for properties belonging to the low-income and poor individuals could mean that they will suffer from a bigger loss and poverty. Existing literature has shown and identified the inherent risks in the development of properties in Malaysia. However, risks exposed to in the development of properties belonging to the low-income and poor individuals in Malaysia are not properly identified. Consequently, a study is conducted to identify risks exposed to in the development of properties belonging to low-income and poor individuals in Malaysia. This study combines literature review and interview with experts and practitioners from various fields such as mua’malat, risk management, construction, developers, Majlis Agama Islam Negeri-Negeri (MAINs) and contractors. Findings from this study suggested that i) 94 risks were identified related to the development of properties belonging to low-income and poor individuals in Malaysia, and ii) Shariah elements i.e mua’malat and its requirements are included as one of the risks in the development of properties belonging to low-income and poor individuals in Malaysia. The findings become the basis and considered significant in assisting authorities and related organizations to understand and address risks accordingly and may assist the future development of a comprehensive Shariah compliance risk management for the development of properties in Malaysia.

Item Type:	Conference or Workshop Item (Plenary Papers)
Additional Information:	7388/71659
Uncontrolled Keywords:	project management, risk, property, housing
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Architecture and Environmental Design Kulliyyah of Architecture and Environmental Design > Department of Quantity Surveying
Depositing User:	Sr. Dr. Puteri Nur Farah Naadia Mohd Fauzi
Date Deposited:	17 Apr 2019 17:25
Last Modified:	15 Jul 2019 11:58
URI:	http://irep.iium.edu.my/id/eprint/71659

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