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

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 pre...

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Main Authors:	Mohd Fauzi, Puteri Nur Farah Naadia, Laldin, Mohamad Akram
Format:	Conference or Workshop Item
Language:	English
Published:	EDP Sciences 2019
Subjects:	HD61 Risk Management
Online Access:	http://irep.iium.edu.my/71659/ http://irep.iium.edu.my/71659/ http://irep.iium.edu.my/71659/ http://irep.iium.edu.my/71659/1/71659_Classification%20and%20types%20of%20risk%20for%20properties.pdf

id	iium-71659
recordtype	eprints
spelling	iium-716592019-07-15T03:58:27Z http://irep.iium.edu.my/71659/ Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia Mohd Fauzi, Puteri Nur Farah Naadia Laldin, Mohamad Akram HD61 Risk Management 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. EDP Sciences 2019-02-20 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/71659/1/71659_Classification%20and%20types%20of%20risk%20for%20properties.pdf 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. https://www.matec-conferences.org/articles/matecconf/pdf/2019/15/matecconf_iconbee2019_03016.pdf https://doi.org/10.1051/matecconf/201926603016
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HD61 Risk Management
spellingShingle	HD61 Risk Management Mohd Fauzi, Puteri Nur Farah Naadia Laldin, Mohamad Akram Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia
description	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.
format	Conference or Workshop Item
author	Mohd Fauzi, Puteri Nur Farah Naadia Laldin, Mohamad Akram
author_facet	Mohd Fauzi, Puteri Nur Farah Naadia Laldin, Mohamad Akram
author_sort	Mohd Fauzi, Puteri Nur Farah Naadia
title	Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia
title_short	Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia
title_full	Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia
title_fullStr	Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia
title_full_unstemmed	Classification and types of risk for properties belonging to low-income and poor individuals in Malaysia
title_sort	classification and types of risk for properties belonging to low-income and poor individuals in malaysia
publisher	EDP Sciences
publishDate	2019
url	http://irep.iium.edu.my/71659/ http://irep.iium.edu.my/71659/ http://irep.iium.edu.my/71659/ http://irep.iium.edu.my/71659/1/71659_Classification%20and%20types%20of%20risk%20for%20properties.pdf
first_indexed	2023-09-18T21:41:36Z
last_indexed	2023-09-18T21:41:36Z
_version_	1777413177173082112

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

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