Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences
Financial consumers are not immune from exploitation, malpractices and oppressive treatment of financial service providers. In fact, they require greater protection than consumers of other types of goods and services for a variety of reasons. Prevailing problems endured by financial consumers are...
| Main Authors: | , , , |
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| Format: | Proceeding Paper |
| Language: | English English |
| Published: |
2018
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/64684/ http://irep.iium.edu.my/64684/1/LOA-CIMSSR-00397-Rusni.pdf http://irep.iium.edu.my/64684/11/64684_Institutional%20Framework%20for%20Consumer.pdf |
| _version_ | 1848786258563694592 |
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| author | Hassan, Rusni Kassim, Salina Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana |
| author_facet | Hassan, Rusni Kassim, Salina Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana |
| author_sort | Hassan, Rusni |
| building | IIUM Repository |
| collection | Online Access |
| description | Financial consumers are not immune from exploitation, malpractices and oppressive treatment of financial service providers. In fact, they require greater protection than consumers of other types of goods and services for a variety of reasons. Prevailing problems endured by financial consumers are exacerbated by the absence of a single authority in Malaysian consumer credit industry to protect their rights and interests. This paper therefore scrutinizes the single institutional framework practised by three selected jurisdictions namely Australia, the United Kingdom and South Africa. The research concludes the viability of establishing a single institution to govern consumer credit industry. Necessary modification and arrangement however is pertinent to suit with the local circumstances. This new arrangement will benefit financial consumers in consumer credit industry by ensuring adequate and equal protection. Undoubtedly, strengthened financial consumer protection regime will increase market confidence and ultimately lead to financial stability and economic growth. |
| first_indexed | 2025-11-14T17:06:11Z |
| format | Proceeding Paper |
| id | iium-64684 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T17:06:11Z |
| publishDate | 2018 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-646842018-07-25T03:38:54Z http://irep.iium.edu.my/64684/ Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences Hassan, Rusni Kassim, Salina Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana HG3368 Islamic Banking and Finance Financial consumers are not immune from exploitation, malpractices and oppressive treatment of financial service providers. In fact, they require greater protection than consumers of other types of goods and services for a variety of reasons. Prevailing problems endured by financial consumers are exacerbated by the absence of a single authority in Malaysian consumer credit industry to protect their rights and interests. This paper therefore scrutinizes the single institutional framework practised by three selected jurisdictions namely Australia, the United Kingdom and South Africa. The research concludes the viability of establishing a single institution to govern consumer credit industry. Necessary modification and arrangement however is pertinent to suit with the local circumstances. This new arrangement will benefit financial consumers in consumer credit industry by ensuring adequate and equal protection. Undoubtedly, strengthened financial consumer protection regime will increase market confidence and ultimately lead to financial stability and economic growth. 2018-08-20 Proceeding Paper NonPeerReviewed application/pdf en http://irep.iium.edu.my/64684/1/LOA-CIMSSR-00397-Rusni.pdf application/pdf en http://irep.iium.edu.my/64684/11/64684_Institutional%20Framework%20for%20Consumer.pdf Hassan, Rusni and Kassim, Salina and Abu Bakar, Elistina and Ilias, Ibtisam @ Ilyana (2018) Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences. In: The 7th Global Conference on Business and Social Sciences (GCBSS 2018), 20th-21st August 2018, Colombo, Sri Lanka. (Unpublished) http://gcbss.org/cimssr2018/ |
| spellingShingle | HG3368 Islamic Banking and Finance Hassan, Rusni Kassim, Salina Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences |
| title | Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences |
| title_full | Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences |
| title_fullStr | Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences |
| title_full_unstemmed | Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences |
| title_short | Institutional framework for consumer credit industry in Malaysia: learning from Australia, the United Kingdom and South Africa experiences |
| title_sort | institutional framework for consumer credit industry in malaysia: learning from australia, the united kingdom and south africa experiences |
| topic | HG3368 Islamic Banking and Finance |
| url | http://irep.iium.edu.my/64684/ http://irep.iium.edu.my/64684/ http://irep.iium.edu.my/64684/1/LOA-CIMSSR-00397-Rusni.pdf http://irep.iium.edu.my/64684/11/64684_Institutional%20Framework%20for%20Consumer.pdf |