rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Rental yield as the Reference benchmark pricing for Musyarakah Mutanaqisah home financing in Malaysia
  name:
    name part: Nur Harena Redzuan
    role:
      role term: creator
    role:
      role term: author
  name:
    name part: International Islamic University Malaysia
    name part: Institute of Islamic Banking and Finance.
  genre: Theses, IIUM local
  origin info:
    place:
      place term: my
    date issued: 2018
  language:
    language term: eng
  physical description:
    extent: xvi, 220 leaves : colour illustrations ; 30cm.
  abstract: Islamic financial institutions offer home financing products which are fully compliant with Shariah. A problem lies in the fact that the musyarakah mutanaqisah home financing product lacks a reference, or price benchmark, which is independent on the interest rate. Many have suggested to price this product based on rental rate, as this rate is indicative of the real value of the property being occupied. The main objective of this study is to assess the viability of rental yield as a pricing reference for musyarakah mutanaqisah home financing, as an alternative to reliance on the market interest rate. This study adopts a multi-step research approach to arrive at conclusive findings. The first step is to determine whether the rental yield is reflective of real economic conditions, while the second is to examine the future trend for rental yield in four different states in Malaysia - Kuala Lumpur, Selangor, Johor, and Penang. In the third step, the forecast data are used to discern the details of musyarakah mutanaqisah home financing products, and, lastly, the resulting price between musyarakah mutanaqisah home financing based on rental yield is compared with murabahah and conventional home financing. This research utilizes the autoregressive distributed lag (ARDL) model to analyze the relationship between rental yield with selected macroeconomic and housing market variables for the 1988 to 2016 period using annual data. The forecasting technique of the auto regressive integrated moving average (ARIMA) and artificial neural network (ANN) models are adopted to assess the predictability of the rental yield for a period of 20 years. The study provides evidence that rental yield is found to be reflective when regressed against the macroeconomic and housing market indicators. The analysis shows that a short period is required for the model to adjust back to the long-term equilibrium. The result observes the future movements of the housing market by considering the rental yie…
  note: by Nur Harena Redzuan
  note: Thesis (Ph.D)--International Islamic University Malaysia, 2018.
  note: Includes bibliographical references (leaves 202-213).
  subject:
    geographic code: a-my---
  subject:
    topic: Housing
    topic: Finance
    geographic: Malaysia
  classification: BPH322.32
  identifier: https://lib.iium.edu.my/mom/services/mom/document/getFile/VGtyzrkeB0uOJ42nWP2bYFH2n3JHnxLF20190416151705016
  record info:
    record content source: UIAM
    record creation date: 180601
    language of cataloging:
      language term: eng