Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government
The role of consumer credit in modern society is vital particularly when poor economic conditions prevail and cost of living soars. In view of the difficulties to access credit, low and middle-income earners commonly pledge their valuables in exchange for cash by resorting to pawnshops which are oft...
| 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/64686/ http://irep.iium.edu.my/64686/1/DSK%20Colombo%20PROTECTING%20PAWNERS%201.pdf http://irep.iium.edu.my/64686/2/LOA-CIMSSR-00398.pdf |
| _version_ | 1848786258848907264 |
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| author | Kassim, Salina Hassan, Rusni Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana |
| author_facet | Kassim, Salina Hassan, Rusni Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana |
| author_sort | Kassim, Salina |
| building | IIUM Repository |
| collection | Online Access |
| description | The role of consumer credit in modern society is vital particularly when poor economic conditions prevail and cost of living soars. In view of the difficulties to access credit, low and middle-income earners commonly pledge their valuables in exchange for cash by resorting to pawnshops which are often labeled as a bank for poor. In this context, the role of the regulator is highly critical and indispensable since the poor being on the disadvantage side of having low bargaining power. This study examines the role of the Ministry of Housing and Local Government in Malaysia which has been mandated to safeguard the interest of pawners under conventional pawnbroking in Malaysia. The scope of discussion covers its institutional set-up, organisational structure while regulatory powers concentrate on licensing and enforcement based on the relevant statutory provisions. Several shortcomings are identified in respect of licensing requirements, enforcement powers and human resources. The study finds that entrusting this Ministry with consumer protection function is inappropriate, thus several recommendations to enhance protection for this class of consumer are proposed. |
| first_indexed | 2025-11-14T17:06:11Z |
| format | Proceeding Paper |
| id | iium-64686 |
| 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-646862018-07-25T03:56:24Z http://irep.iium.edu.my/64686/ Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government Kassim, Salina Hassan, Rusni Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana HG Finance HG3368 Islamic Banking and Finance HG3691 Credit KPG Malaysia The role of consumer credit in modern society is vital particularly when poor economic conditions prevail and cost of living soars. In view of the difficulties to access credit, low and middle-income earners commonly pledge their valuables in exchange for cash by resorting to pawnshops which are often labeled as a bank for poor. In this context, the role of the regulator is highly critical and indispensable since the poor being on the disadvantage side of having low bargaining power. This study examines the role of the Ministry of Housing and Local Government in Malaysia which has been mandated to safeguard the interest of pawners under conventional pawnbroking in Malaysia. The scope of discussion covers its institutional set-up, organisational structure while regulatory powers concentrate on licensing and enforcement based on the relevant statutory provisions. Several shortcomings are identified in respect of licensing requirements, enforcement powers and human resources. The study finds that entrusting this Ministry with consumer protection function is inappropriate, thus several recommendations to enhance protection for this class of consumer are proposed. 2018 Proceeding Paper NonPeerReviewed application/pdf en http://irep.iium.edu.my/64686/1/DSK%20Colombo%20PROTECTING%20PAWNERS%201.pdf application/pdf en http://irep.iium.edu.my/64686/2/LOA-CIMSSR-00398.pdf Kassim, Salina and Hassan, Rusni and Abu Bakar, Elistina and Ilias, Ibtisam @ Ilyana (2018) Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government. 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 | HG Finance HG3368 Islamic Banking and Finance HG3691 Credit KPG Malaysia Kassim, Salina Hassan, Rusni Abu Bakar, Elistina Ilias, Ibtisam @ Ilyana Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government |
| title | Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government |
| title_full | Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government |
| title_fullStr | Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government |
| title_full_unstemmed | Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government |
| title_short | Protecting the pawners: appraising the role of Ministry of Urban Wellbeing, Housing and Local Government |
| title_sort | protecting the pawners: appraising the role of ministry of urban wellbeing, housing and local government |
| topic | HG Finance HG3368 Islamic Banking and Finance HG3691 Credit KPG Malaysia |
| url | http://irep.iium.edu.my/64686/ http://irep.iium.edu.my/64686/ http://irep.iium.edu.my/64686/1/DSK%20Colombo%20PROTECTING%20PAWNERS%201.pdf http://irep.iium.edu.my/64686/2/LOA-CIMSSR-00398.pdf |