Tackling responsible lending obligation in Malaysia: a diverse approach
This paper examines responsible lending obligation among various credit providers under the present legal and institutional framework in Malaysia. The scope of consumer credit industry includes banking, hire-purchase, money lending and pawnbroking. The study finds an inconsistent...
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Science and Engineering Research Support Society
2019
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Online Access: | http://psasir.upm.edu.my/id/eprint/82134/1/Tackling%20responsible%20lending%20obligation%20in%20Malaysia.pdf http://psasir.upm.edu.my/id/eprint/82134/ http://sersc.org/journals/index.php/IJAST/article/view/887 |
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my.upm.eprints.821342021-08-13T00:01:49Z http://psasir.upm.edu.my/id/eprint/82134/ Tackling responsible lending obligation in Malaysia: a diverse approach Ilias, Ibtisam @ Ilyana Hingun, Mohsin Hassan, Rusni Kassim, Salina Abu Bakar, Elistina This paper examines responsible lending obligation among various credit providers under the present legal and institutional framework in Malaysia. The scope of consumer credit industry includes banking, hire-purchase, money lending and pawnbroking. The study finds an inconsistent approach in dealing with responsible lending whereby only banking institutions regulated by the Central Bank of Malaysia are subject to this obligation while non-bank institutions are not. Several recommendations for future improvements are proposed by referring to the practice of several other jurisdictions. The suggestions will help the policymakers to seriously consider imposing this obligation on all credit providers. Eventually, the protection against the irresponsible lending practice is accorded to a wide range of financial consumers in consumer credit industry in Malaysia. Science and Engineering Research Support Society 2019 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/82134/1/Tackling%20responsible%20lending%20obligation%20in%20Malaysia.pdf Ilias, Ibtisam @ Ilyana and Hingun, Mohsin and Hassan, Rusni and Kassim, Salina and Abu Bakar, Elistina (2019) Tackling responsible lending obligation in Malaysia: a diverse approach. International Journal of Advanced Science and Technology, 28 (8 spec.). pp. 314-321. ISSN 2005-4238; ESSN: 2207-6360 http://sersc.org/journals/index.php/IJAST/article/view/887 |
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This paper examines responsible lending obligation among various credit providers under the present legal and institutional framework in Malaysia. The scope of consumer credit industry includes banking, hire-purchase, money lending and pawnbroking. The study finds an inconsistent approach in dealing with responsible lending whereby only banking institutions regulated by the Central Bank of Malaysia are subject to this obligation while non-bank institutions are not. Several recommendations for future improvements are proposed by referring to the practice of several other jurisdictions. The
suggestions will help the policymakers to seriously consider imposing this obligation on all credit providers. Eventually, the protection against the irresponsible lending practice is accorded to a wide range of financial consumers in consumer credit industry in Malaysia. |
format |
Article |
author |
Ilias, Ibtisam @ Ilyana Hingun, Mohsin Hassan, Rusni Kassim, Salina Abu Bakar, Elistina |
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Ilias, Ibtisam @ Ilyana Hingun, Mohsin Hassan, Rusni Kassim, Salina Abu Bakar, Elistina Tackling responsible lending obligation in Malaysia: a diverse approach |
author_facet |
Ilias, Ibtisam @ Ilyana Hingun, Mohsin Hassan, Rusni Kassim, Salina Abu Bakar, Elistina |
author_sort |
Ilias, Ibtisam @ Ilyana |
title |
Tackling responsible lending obligation in Malaysia: a diverse approach |
title_short |
Tackling responsible lending obligation in Malaysia: a diverse approach |
title_full |
Tackling responsible lending obligation in Malaysia: a diverse approach |
title_fullStr |
Tackling responsible lending obligation in Malaysia: a diverse approach |
title_full_unstemmed |
Tackling responsible lending obligation in Malaysia: a diverse approach |
title_sort |
tackling responsible lending obligation in malaysia: a diverse approach |
publisher |
Science and Engineering Research Support Society |
publishDate |
2019 |
url |
http://psasir.upm.edu.my/id/eprint/82134/1/Tackling%20responsible%20lending%20obligation%20in%20Malaysia.pdf http://psasir.upm.edu.my/id/eprint/82134/ http://sersc.org/journals/index.php/IJAST/article/view/887 |
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