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

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 abando...

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Main Authors:	Abdul Razak, Dzuljastri, Mohammed , Mustafa Omar, Tarique, Kazi Md.
Format:	Conference or Workshop Item
Language:	English English
Published:	ELSEVIER 2015
Subjects:	HG4001 Financial management. Business finance. Corporation finance.
Online Access:	http://irep.iium.edu.my/44616/ http://irep.iium.edu.my/44616/9/abonded_housing_project.pdf http://irep.iium.edu.my/44616/12/44616_abondoned_housing_project.pdf

id	iium-44616
recordtype	eprints
spelling	iium-446162016-04-20T05:42:28Z http://irep.iium.edu.my/44616/ Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview Abdul Razak, Dzuljastri Mohammed , Mustafa Omar Tarique, Kazi Md. HG4001 Financial management. Business finance. Corporation finance. 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 ELSEVIER 2015-08-17 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/44616/9/abonded_housing_project.pdf application/pdf en http://irep.iium.edu.my/44616/12/44616_abondoned_housing_project.pdf 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.
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HG4001 Financial management. Business finance. Corporation finance.
spellingShingle	HG4001 Financial management. Business finance. Corporation finance. Abdul Razak, Dzuljastri Mohammed , Mustafa Omar Tarique, Kazi Md. Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview
description	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
format	Conference or Workshop Item
author	Abdul Razak, Dzuljastri Mohammed , Mustafa Omar Tarique, Kazi Md.
author_facet	Abdul Razak, Dzuljastri Mohammed , Mustafa Omar Tarique, Kazi Md.
author_sort	Abdul Razak, Dzuljastri
title	Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview
title_short	Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview
title_full	Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview
title_fullStr	Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview
title_full_unstemmed	Abandoned housing projects in Malaysia and the prospect of diminishing partnership: an overview
title_sort	abandoned housing projects in malaysia and the prospect of diminishing partnership: an overview
publisher	ELSEVIER
publishDate	2015
url	http://irep.iium.edu.my/44616/ http://irep.iium.edu.my/44616/9/abonded_housing_project.pdf http://irep.iium.edu.my/44616/12/44616_abondoned_housing_project.pdf
first_indexed	2023-09-18T21:03:25Z
last_indexed	2023-09-18T21:03:25Z
_version_	1777410774362226688

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

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