Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview

Abdul Razak, Dzuljastri and Mohammed , Mustafa Omar and Tarique, Kazi Md. (2015) Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview. In: The IVth International Accounting and Business Conference (IABC) 2015, 17-18 Aug 2015, Putrajaya, Malaysia.

	PDF (author's copy) Restricted to Repository staff only Download (3MB) | Request a copy
Preview	PDF (full paper) - Published Version Download (473kB) | Preview

Abstract

Owning a house is a dream that every individual cherishes. In Malaysia, both the banking sector and the government have expended relentless efforts to ensure Malaysians have access to financing to acquire and own affordable houses. These efforts are however being derailed by alarming cases of abandoned housing projects (AHPs) that have affected a substantial number of house buyers. Several reasons have been cited for the AHPs. The issues of the Islamic banking debt based home financing products have remained prominent. The literature argues that these products such as BBA and Tawarruq have imbedded features of transferring risks and liabilities to home buyers. This problem becomes acute in cases of AHPs. Musharakah Mutanaqisah or Diminishing Partnership (DP) is suggested as a superior option for Islamic home financing schemes. However, there is hardly any work that has investigated the extent to which DP can provide remedy to addressing the problem of abandoned housing projects. The present paper adopts content analysis and has shown that DP has a bright prospect of mitigating the problem of abandoned housing projects. The paper concludes with suggestions for the future research. Keywords: Diminishing partnership; abandoned housing; Islamic banking

Item Type:	Conference or Workshop Item (Full Paper)
Additional Information:	4433/44616 Published in Procedia Economics and Finance 31(2015) 813 – 822. ISSN 2212-5671
Uncontrolled Keywords:	Diminishing partnership; abandoned housing; Islamic banking
Subjects:	H Social Sciences > HG Finance > HG4001 Financial management. Business finance. Corporation finance.
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User:	Dr Dzuljastri Abdul Razak
Date Deposited:	09 Sep 2015 09:16
Last Modified:	20 Apr 2016 13:42
URI:	http://irep.iium.edu.my/id/eprint/44616

Actions (login required)

View Item