Access to Credits and Indebtedness: Islamic Perspective
International Journal of Accounting, Finance and Risk Management
Volume 1, Issue 1, November 2016, Pages: 46-52
Received: Dec. 6, 2016; Accepted: Dec. 28, 2016; Published: Jan. 20, 2017
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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
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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.
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
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