Unfair terms in Islamic banking contracts: realizing Maqasid al-Shariah towards banking consumer protection in Malaysia

• Main Authors: Abu Bakar, Noor Mahinar, Mohd. Yasin, Norhashimah
• Format: Conference or Workshop Item
• Language: English
• Published: 2016
• Subjects: BP173.75 Islam and economics; HG1501 Banking; KBP173.25 Islamic law and other disciplines or subjects
• Online Access: http://irep.iium.edu.my/54111/1/54111_UNFAIR%20TERMS%20IN%20ISLAMIC%20BANKING%20CONTRACTS.pdf; http://irep.iium.edu.my/54111/; http://umconference.um.edu.my/ICIC-2016=3722

The use of unfair contract terms in Islamic banking contracts remains a serious problem in Malaysia. Most Islamic banking contracts are in standard form contracts, also known as ‘adhesion contracts’ which are predrafted by the party with strong bargaining power in the contract and contain terms th...