Classification of defaulters in the payment of debt in Islamic banking practices

• Main Authors: Hasan, Aznan, Haron, Muhamad Nasir, Mohamed, Mohd Faysal, Mana, Budeeman
• Format: Article
• Language: English; English
• Published: IIUM Press, International Islamic University Malaysia 2017
• Subjects: HG Finance; HG3368 Islamic Banking and Finance; HJ8003 Public credit. Debts. Loans. Claims
• Online Access: http://irep.iium.edu.my/63102/1/63102_Classification%20of%20defaulters%20in%20the%20payment_scopus.pdf; http://irep.iium.edu.my/63102/7/63102_Classification%20of%20defaulters%20in%20the%20payment.pdf; http://irep.iium.edu.my/63102/; http://journals.iium.edu.my/shajarah/index.php/shaj/article/view/610
• Institution: Universiti Islam Antarabangsa Malaysia

This paper discusses the issue of treatment of debt defaulters from SharÊ'ah perspective and its current practices in Islamic banking and finance. In doing so, the paper first explains the concept of debt and its payment obligation from Islamic point of view. The paper also critically reviews t...