Volume 1, Issue 1, November 2016, Page: 46-52
Access to Credits and Indebtedness: Islamic Perspective
Idris Yahaya Adamu, Department of Islamic Finance and Banking, School of Islamic Business, Universiti Utara Malaysia, Sintok Kedah, Malaysia
Ahmad Khilmy bin Abdul Rahim, Department of Islamic Finance and Banking, School of Islamic Business, Universiti Utara Malaysia, Sintok Kedah, Malaysia
Abu Bakar Hamed, Department of Islamic Finance and Banking, School of Islamic Business, Universiti Utara Malaysia, Sintok Kedah, Malaysia
Received: Dec. 6, 2016;       Accepted: Dec. 28, 2016;       Published: Jan. 20, 2017
DOI: 10.11648/j.ijafrm.20160101.17      View  2911      Downloads  72
Abstract
The purpose of this paper is to describe, from Islamic perspective, Muslims’ concern on loans and indebtedness. The paper intends to enlighten working class Muslims on the consequences of taking unnecessary loans. Due to increasing access to financial services, banks and other financial institutions are increasingly offering loans to their customers. Thus, increasing unnecessary borrowings at the expense of their future well-being. The paper concentrate on Islamic perspective of over borrowing and indebtedness. Muslims are expected to live a moderate life, free of embezzlement and misery. Therefore, are called upon to avoid unnecessary expenditure and improve savings. The study contributes to literature of borrowings, by considering loans as last alternative and by necessity.
Keywords
Access to Credits, Loans, Indebtedness, Muslim Consumers
To cite this article
Idris Yahaya Adamu, Ahmad Khilmy bin Abdul Rahim, Abu Bakar Hamed, Access to Credits and Indebtedness: Islamic Perspective, International Journal of Accounting, Finance and Risk Management. Vol. 1, No. 1, 2016, pp. 46-52. doi: 10.11648/j.ijafrm.20160101.17
Copyright
Copyright © 2016 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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