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Deposit Insurance in Malaysia: Shariah Perspective and Muslims Acknowledgement

Deposit insurance is an insurance system established by policy makers in many countries to protect depositors against the loss of their deposits which are placed in bank(s) in the event of a 'run' on a bank. The United States was the first country to establish an official deposit insurance...

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Bibliographic Details
Main Authors: Nor Haziah Hashim, Syahidawati Shahwan
Format: Article
Language:English
Published: Universiti Sains Islam Malaysia 2012
Subjects:
Deposit insurance
Shariah perspectives
Malaysia Deposit Insurance Corporation
MDIC
Online Access:http://ddms.usim.edu.my/handle/123456789/5382
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spelling my.usim-53822015-03-02T06:37:53Z Deposit Insurance in Malaysia: Shariah Perspective and Muslims Acknowledgement Nor Haziah Hashim Syahidawati Shahwan Deposit insurance Shariah perspectives Malaysia Deposit Insurance Corporation MDIC Deposit insurance is an insurance system established by policy makers in many countries to protect depositors against the loss of their deposits which are placed in bank(s) in the event of a 'run' on a bank. The United States was the first country to establish an official deposit insurance scheme during the Great Depression banking crisis in 1934, during which large number of customers of a bank withdrew their deposits because they feared it might become insolvent. In Malaysia, the system was launched on September 2005, and administered by the Malaysia Deposit Insurance Corporation (MDIC). This article will discuss the concept and historical aspect of deposit insurance and also the operation of Malaysia Deposit Insurance Corporation (MDIC). In addition to that, this article also discusses the Shariah perspective on this measure. A short survey was also administered to determine the public awareness and understanding of the scheme. 2012-03-12T03:40:55Z 2012-03-12T03:40:55Z 2010 Article 1823075X http://ddms.usim.edu.my/handle/123456789/5382 en vol.7 no.1 2010; Universiti Sains Islam Malaysia
institution Universiti Sains Islam Malaysia
building USIM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universit Sains Islam i Malaysia
content_source USIM Institutional Repository
url_provider http://ddms.usim.edu.my/
language English
topic Deposit insurance
Shariah perspectives
Malaysia Deposit Insurance Corporation
MDIC
spellingShingle Deposit insurance
Shariah perspectives
Malaysia Deposit Insurance Corporation
MDIC
Nor Haziah Hashim
Syahidawati Shahwan
Deposit Insurance in Malaysia: Shariah Perspective and Muslims Acknowledgement
description Deposit insurance is an insurance system established by policy makers in many countries to protect depositors against the loss of their deposits which are placed in bank(s) in the event of a 'run' on a bank. The United States was the first country to establish an official deposit insurance scheme during the Great Depression banking crisis in 1934, during which large number of customers of a bank withdrew their deposits because they feared it might become insolvent. In Malaysia, the system was launched on September 2005, and administered by the Malaysia Deposit Insurance Corporation (MDIC). This article will discuss the concept and historical aspect of deposit insurance and also the operation of Malaysia Deposit Insurance Corporation (MDIC). In addition to that, this article also discusses the Shariah perspective on this measure. A short survey was also administered to determine the public awareness and understanding of the scheme.
format Article
author Nor Haziah Hashim
Syahidawati Shahwan
author_facet Nor Haziah Hashim
Syahidawati Shahwan
author_sort Nor Haziah Hashim
title Deposit Insurance in Malaysia: Shariah Perspective and Muslims Acknowledgement
title_short Deposit Insurance in Malaysia: Shariah Perspective and Muslims Acknowledgement
title_full Deposit Insurance in Malaysia: Shariah Perspective and Muslims Acknowledgement
title_fullStr Deposit Insurance in Malaysia: Shariah Perspective and Muslims Acknowledgement
title_full_unstemmed Deposit Insurance in Malaysia: Shariah Perspective and Muslims Acknowledgement
title_sort deposit insurance in malaysia: shariah perspective and muslims acknowledgement
publisher Universiti Sains Islam Malaysia
publishDate 2012
url http://ddms.usim.edu.my/handle/123456789/5382
_version_ 1645151658974380032
score 13.222552

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