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A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia

Recently, due to the easily loan facility from the financial institution, money lending activities had flourished vividly for instance in purchasing goods by way of hire purchase contract is common to the society at large. Hire purchase contract is a money lending or loan by way of leasing, the owne...

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Main Authors: Abdullah, N., Hanafi, H.
Format: Conference or Workshop Item
Language:English
Published: 2007
Subjects:
K Law (General)
Online Access:http://eprints.um.edu.my/13509/1/a_comparative_approach_of_money.pdf
http://eprints.um.edu.my/13509/
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spelling my.um.eprints.135092015-06-08T03:48:23Z http://eprints.um.edu.my/13509/ A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia Abdullah, N. Hanafi, H. K Law (General) Recently, due to the easily loan facility from the financial institution, money lending activities had flourished vividly for instance in purchasing goods by way of hire purchase contract is common to the society at large. Hire purchase contract is a money lending or loan by way of leasing, the ownership shifted until the final payment is made. On the other hand, illegal financial institution, or well known as "Ah Long" had mushrooming into the society as well. Hence, without realizing both legal and illegal financial institution, imposed a strict rule upon failure of the defaulters to pay back the loan given. upon failure, repossessor repossessed back the vehicle and mean while, "Ah Long" will use any possible forced so that they get back their money. Therefore, sometimes it creates a negative environment between them the borrower and the creditor and also between the owner (lessor) and the hirer (lessee). Therefore, this study aims to examine the legal implication to the hirer in the case of repossession of the vehicle upon failure to pay back the loan under hire purchase contract and also the impact to the borrower upon failure to pay back the loan from the illegal financial institution or well known as "Along". 2007-04 Conference or Workshop Item PeerReviewed application/pdf en http://eprints.um.edu.my/13509/1/a_comparative_approach_of_money.pdf Abdullah, N. and Hanafi, H. (2007) A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia. In: Law Conference 2007, 18-20 Apr 2007, Sintok, Kedah.
institution Universiti Malaya
building UM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaya
content_source UM Research Repository
url_provider http://eprints.um.edu.my/
language English
topic K Law (General)
spellingShingle K Law (General)
Abdullah, N.
Hanafi, H.
A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia
description Recently, due to the easily loan facility from the financial institution, money lending activities had flourished vividly for instance in purchasing goods by way of hire purchase contract is common to the society at large. Hire purchase contract is a money lending or loan by way of leasing, the ownership shifted until the final payment is made. On the other hand, illegal financial institution, or well known as "Ah Long" had mushrooming into the society as well. Hence, without realizing both legal and illegal financial institution, imposed a strict rule upon failure of the defaulters to pay back the loan given. upon failure, repossessor repossessed back the vehicle and mean while, "Ah Long" will use any possible forced so that they get back their money. Therefore, sometimes it creates a negative environment between them the borrower and the creditor and also between the owner (lessor) and the hirer (lessee). Therefore, this study aims to examine the legal implication to the hirer in the case of repossession of the vehicle upon failure to pay back the loan under hire purchase contract and also the impact to the borrower upon failure to pay back the loan from the illegal financial institution or well known as "Along".
format Conference or Workshop Item
author Abdullah, N.
Hanafi, H.
author_facet Abdullah, N.
Hanafi, H.
author_sort Abdullah, N.
title A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia
title_short A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia
title_full A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia
title_fullStr A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia
title_full_unstemmed A comparative approach of money lending activities practiced by the financial institution and "ah long" in Malaysia
title_sort comparative approach of money lending activities practiced by the financial institution and "ah long" in malaysia
publishDate 2007
url http://eprints.um.edu.my/13509/1/a_comparative_approach_of_money.pdf
http://eprints.um.edu.my/13509/
_version_ 1643689571525853184
score 13.211869

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