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Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective

The Covid-19 pandemic has caused unprecedented health and economic crisis. The significant measures adopted by most countries to contain the virus by implementing movement control order (MCO) led to an economic downturn. The decision to implement the lockdown follows the rising number of Covid-19 ca...

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Main Authors: Mohamed Othman, Nurul Balqis, Rosman, Romzie
Format: Conference or Workshop Item
Language:English
Published: 2021
Subjects:
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/92521/1/R2_S4_Nurul%20Balqis%20and%20Romzie_Bank%20Rakyat%20and%20IIUM.pdf
http://irep.iium.edu.my/92521/
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spelling my.iium.irep.925212021-10-13T04:11:11Z http://irep.iium.edu.my/92521/ Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective Mohamed Othman, Nurul Balqis Rosman, Romzie HG3368 Islamic Banking and Finance The Covid-19 pandemic has caused unprecedented health and economic crisis. The significant measures adopted by most countries to contain the virus by implementing movement control order (MCO) led to an economic downturn. The decision to implement the lockdown follows the rising number of Covid-19 cases in the country where 8,290 new Covid-19 cases reported on 28th May 2021. The lockdown will definitely cause hardship for the economic wellbeing of the people. Hence, this paper examines the central bank policy implication on the practice of moratorium after the first MCO on 18th March 2020 to support the people and company that badly affected by the lockdown for them to pay their loan and financing. The paper highlight the issue and challenges in the implementation of moratorium by Islamic banks. Furthermore, the study will provide policy implications and importantly to support the value-based intermediation for Islamic banks to fulfil the Maqasid Shariah. 2021-09-02 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/92521/1/R2_S4_Nurul%20Balqis%20and%20Romzie_Bank%20Rakyat%20and%20IIUM.pdf Mohamed Othman, Nurul Balqis and Rosman, Romzie (2021) Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective. In: The 5th International Conference on Business and Economics, 01-02 September 2021, Padang, West Sumatera, Indonesia. (Unpublished)
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic HG3368 Islamic Banking and Finance
spellingShingle HG3368 Islamic Banking and Finance
Mohamed Othman, Nurul Balqis
Rosman, Romzie
Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective
description The Covid-19 pandemic has caused unprecedented health and economic crisis. The significant measures adopted by most countries to contain the virus by implementing movement control order (MCO) led to an economic downturn. The decision to implement the lockdown follows the rising number of Covid-19 cases in the country where 8,290 new Covid-19 cases reported on 28th May 2021. The lockdown will definitely cause hardship for the economic wellbeing of the people. Hence, this paper examines the central bank policy implication on the practice of moratorium after the first MCO on 18th March 2020 to support the people and company that badly affected by the lockdown for them to pay their loan and financing. The paper highlight the issue and challenges in the implementation of moratorium by Islamic banks. Furthermore, the study will provide policy implications and importantly to support the value-based intermediation for Islamic banks to fulfil the Maqasid Shariah.
format Conference or Workshop Item
author Mohamed Othman, Nurul Balqis
Rosman, Romzie
author_facet Mohamed Othman, Nurul Balqis
Rosman, Romzie
author_sort Mohamed Othman, Nurul Balqis
title Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective
title_short Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective
title_full Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective
title_fullStr Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective
title_full_unstemmed Implementation of Moratorium by Islamic Banks During the Covid-19 Pandemic: Maqasid Shariah Perspective
title_sort implementation of moratorium by islamic banks during the covid-19 pandemic: maqasid shariah perspective
publishDate 2021
url http://irep.iium.edu.my/92521/1/R2_S4_Nurul%20Balqis%20and%20Romzie_Bank%20Rakyat%20and%20IIUM.pdf
http://irep.iium.edu.my/92521/
_version_ 1715189387122180096
score 13.211869

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