The PFI and Islamic Project Finance: Exploring compatibility
Public-Private Partnerships (PPP) or Private Finance initiatives (PFI) as it is referred to in some regions has become the most favoured strategy for the provision of public infrastructure by governments across the globe. The reasons for adopting this procurement strategy has been to reduce public s...
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my.utp.eprints.82072017-01-19T08:21:22Z The PFI and Islamic Project Finance: Exploring compatibility Umar, Abdullahi Ahmed Wan Abdullah Zawawi, Noor Amila Khamidi, M. Faris Idrus, Arazi Ahmad, Mahadi H Social Sciences (General) TH Building construction TA Engineering (General). Civil engineering (General) Public-Private Partnerships (PPP) or Private Finance initiatives (PFI) as it is referred to in some regions has become the most favoured strategy for the provision of public infrastructure by governments across the globe. The reasons for adopting this procurement strategy has been to reduce public sector borrowing, and provision of infrastructure faster than would have been possible relying on public sector finances. However, the use of high cost interest-bearing conventional project finance has cast a shadow of distrust between the public and their government resulting in expensive buy-backs, renegotiations and in extreme cases, cancellation of the projects. This paper explores the compatibility of the PFI and interest-free Islamic project finance. The paper argues that PFI, which is used for the provision of public infrastructure for the social well-being of society, is compatible with the intent of Islamic finance. 2012-09-11 Conference or Workshop Item PeerReviewed application/pdf http://eprints.utp.edu.my/8207/1/WCIT2012_The_PFI_and_Islamic_Project_Finance.pdf application/pdf http://eprints.utp.edu.my/8207/2/WCIT2012_The_PFI_and_Islamic_Project_Finance.pdf http://www.wcit2012.my Umar, Abdullahi Ahmed and Wan Abdullah Zawawi, Noor Amila and Khamidi, M. Faris and Idrus, Arazi and Ahmad, Mahadi (2012) The PFI and Islamic Project Finance: Exploring compatibility. In: World Conference on Islamic Thoughts & Civilization 2012, 11-12 September 2012, Perak, Malaysia. http://eprints.utp.edu.my/8207/ |
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H Social Sciences (General) TH Building construction TA Engineering (General). Civil engineering (General) Umar, Abdullahi Ahmed Wan Abdullah Zawawi, Noor Amila Khamidi, M. Faris Idrus, Arazi Ahmad, Mahadi The PFI and Islamic Project Finance: Exploring compatibility |
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Public-Private Partnerships (PPP) or Private Finance initiatives (PFI) as it is referred to in some regions has become the most favoured strategy for the provision of public infrastructure by governments across the globe. The reasons for adopting this procurement strategy has been to reduce public sector borrowing, and provision of infrastructure faster than would have been possible relying on public sector finances. However, the use of high cost interest-bearing conventional project finance has cast a shadow of distrust between the public and their government resulting in expensive buy-backs, renegotiations and in extreme cases, cancellation of the projects. This paper explores the compatibility of the PFI and interest-free Islamic project finance. The paper argues that PFI, which is used for the provision of public infrastructure for the social well-being of society, is compatible with the intent of Islamic finance. |
format |
Conference or Workshop Item |
author |
Umar, Abdullahi Ahmed Wan Abdullah Zawawi, Noor Amila Khamidi, M. Faris Idrus, Arazi Ahmad, Mahadi |
author_facet |
Umar, Abdullahi Ahmed Wan Abdullah Zawawi, Noor Amila Khamidi, M. Faris Idrus, Arazi Ahmad, Mahadi |
author_sort |
Umar, Abdullahi Ahmed |
title |
The PFI and Islamic Project Finance: Exploring compatibility |
title_short |
The PFI and Islamic Project Finance: Exploring compatibility |
title_full |
The PFI and Islamic Project Finance: Exploring compatibility |
title_fullStr |
The PFI and Islamic Project Finance: Exploring compatibility |
title_full_unstemmed |
The PFI and Islamic Project Finance: Exploring compatibility |
title_sort |
pfi and islamic project finance: exploring compatibility |
publishDate |
2012 |
url |
http://eprints.utp.edu.my/8207/1/WCIT2012_The_PFI_and_Islamic_Project_Finance.pdf http://eprints.utp.edu.my/8207/2/WCIT2012_The_PFI_and_Islamic_Project_Finance.pdf http://www.wcit2012.my http://eprints.utp.edu.my/8207/ |
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13.160551 |