Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia

The United Arab Emirates is one of the world's leaders in Islamic banking. The industry has grown in recent years thanks to well-organized Islamic financial institutions and Islamic financial products that adhere to Islamic Shariah provisions. This study discusses murabahah-based Islamic reside...

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Main Author:	Alshamsi, Ahmed Abdullah Saif Saeed
Format:	Thesis
Language:	eng eng eng
Published:	2023
Subjects:	HG Finance K Law (General)
Online Access:	https://etd.uum.edu.my/10901/1/Depositpermission-Embargo%201%20years_s902768.pdf https://etd.uum.edu.my/10901/2/s902768_01.pdf https://etd.uum.edu.my/10901/3/s902768_02.pdf
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id	my-uum-etd.10901
record_format	uketd_dc
spelling	my-uum-etd.109012024-01-18T06:27:46Z Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia 2023 Alshamsi, Ahmed Abdullah Saif Saeed Md. Nor, Mohd Zakhiri Ghazali Shafie Graduate School of Government Ghazali Shafie Graduate School of Government HG Finance K Law (General) The United Arab Emirates is one of the world's leaders in Islamic banking. The industry has grown in recent years thanks to well-organized Islamic financial institutions and Islamic financial products that adhere to Islamic Shariah provisions. This study discusses murabahah-based Islamic residential real estate financing products, as well as leases that end in ownership and exclusion. These are products governed by contracts that connect Islamic financial institutions and consumers. The goals of this research are to (1) Examine Islamic financial products in the UAE, (2) investigate legal issues found by consumers in Islamic financial products in the UAE, and (3) make recommendations and improvements to Islamic residential property financing products to protect the consumers in the UAE. This study used qualitative methodology and was based on direct interviews with stakeholders such as government officials from the UAE Central Bank, municipal departments, land and property departments, and property regulatory institutions. In addition to staff of Islamic financial institutions, internal and external Shariah bodies, and users of Islamic residential real estate financing products as primary sources, official and legal reports and general and specialised books, research, government publications, academic journals, newspaper articles, and Internet resources are used. This study concludes that there is no comprehensive legislation regulating the work of Islamic financial institutions in the UAE, which is the source of many problems and issues affecting banking, including a lack of consumer confidence in Islamic banking products in the UAE. This study makes recommendations to legislators and regulators to increase consumer confidence in Islamic financial institutions, as well as to consumers to broaden their knowledge and behaviour in Islamic banking operations 2023 Thesis https://etd.uum.edu.my/10901/ https://etd.uum.edu.my/10901/1/Depositpermission-Embargo%201%20years_s902768.pdf text eng 2024-09-17 staffonly https://etd.uum.edu.my/10901/2/s902768_01.pdf text eng 2024-09-17 staffonly https://etd.uum.edu.my/10901/3/s902768_02.pdf text eng staffonly other doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng eng
advisor	Md. Nor, Mohd Zakhiri
topic	HG Finance K Law (General)
spellingShingle	HG Finance K Law (General) Alshamsi, Ahmed Abdullah Saif Saeed Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia
description	The United Arab Emirates is one of the world's leaders in Islamic banking. The industry has grown in recent years thanks to well-organized Islamic financial institutions and Islamic financial products that adhere to Islamic Shariah provisions. This study discusses murabahah-based Islamic residential real estate financing products, as well as leases that end in ownership and exclusion. These are products governed by contracts that connect Islamic financial institutions and consumers. The goals of this research are to (1) Examine Islamic financial products in the UAE, (2) investigate legal issues found by consumers in Islamic financial products in the UAE, and (3) make recommendations and improvements to Islamic residential property financing products to protect the consumers in the UAE. This study used qualitative methodology and was based on direct interviews with stakeholders such as government officials from the UAE Central Bank, municipal departments, land and property departments, and property regulatory institutions. In addition to staff of Islamic financial institutions, internal and external Shariah bodies, and users of Islamic residential real estate financing products as primary sources, official and legal reports and general and specialised books, research, government publications, academic journals, newspaper articles, and Internet resources are used. This study concludes that there is no comprehensive legislation regulating the work of Islamic financial institutions in the UAE, which is the source of many problems and issues affecting banking, including a lack of consumer confidence in Islamic banking products in the UAE. This study makes recommendations to legislators and regulators to increase consumer confidence in Islamic financial institutions, as well as to consumers to broaden their knowledge and behaviour in Islamic banking operations
format	Thesis
qualification_name	other
qualification_level	Doctorate
author	Alshamsi, Ahmed Abdullah Saif Saeed
author_facet	Alshamsi, Ahmed Abdullah Saif Saeed
author_sort	Alshamsi, Ahmed Abdullah Saif Saeed
title	Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia
title_short	Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia
title_full	Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia
title_fullStr	Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia
title_full_unstemmed	Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia
title_sort	legal issues of islamic housing finance products and consumers in the uae with reference to practices in malaysia
granting_institution	Universiti Utara Malaysia
granting_department	Ghazali Shafie Graduate School of Government
publishDate	2023
url	https://etd.uum.edu.my/10901/1/Depositpermission-Embargo%201%20years_s902768.pdf https://etd.uum.edu.my/10901/2/s902768_01.pdf https://etd.uum.edu.my/10901/3/s902768_02.pdf
_version_	1794023785098117120

Legal issues of Islamic housing finance products and consumers in the UAE with reference to practices in Malaysia

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