Access to Credits and Indebtedness: Islamic Perspective

Idris Yahaya Adamu; Ahmad Khilmy bin Abdul Rahim; Abu Bakar Hamed

doi:doi:10.11648/j.ijafrm.20160101.17

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Access to Credits and Indebtedness: Islamic Perspective

Idris Yahaya Adamu, Ahmad Khilmy bin Abdul Rahim, Abu Bakar Hamed

Published in International Journal of Accounting, Finance and Risk Management (Volume 1, Issue 1)

Received: 6 December 2016 Accepted: 28 December 2016 Published: 20 January 2017

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Abstract

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.

Published in	International Journal of Accounting, Finance and Risk Management (Volume 1, Issue 1)
DOI	10.11648/j.ijafrm.20160101.17
Page(s)	46-52
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2017. Published by Science Publishing Group

Keywords

Access to Credits, Loans, Indebtedness, Muslim Consumers

References

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APA Style

Idris Yahaya Adamu, Ahmad Khilmy bin Abdul Rahim, Abu Bakar Hamed. (2017). Access to Credits and Indebtedness: Islamic Perspective. International Journal of Accounting, Finance and Risk Management, 1(1), 46-52. https://doi.org/10.11648/j.ijafrm.20160101.17

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ACS Style

Idris Yahaya Adamu; Ahmad Khilmy bin Abdul Rahim; Abu Bakar Hamed. Access to Credits and Indebtedness: Islamic Perspective. Int. J. Account. Finance Risk Manag. 2017, 1(1), 46-52. doi: 10.11648/j.ijafrm.20160101.17

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AMA Style

Idris Yahaya Adamu, Ahmad Khilmy bin Abdul Rahim, Abu Bakar Hamed. Access to Credits and Indebtedness: Islamic Perspective. Int J Account Finance Risk Manag. 2017;1(1):46-52. doi: 10.11648/j.ijafrm.20160101.17

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@article{10.11648/j.ijafrm.20160101.17,
  author = {Idris Yahaya Adamu and Ahmad Khilmy bin Abdul Rahim and Abu Bakar Hamed},
  title = {Access to Credits and Indebtedness: Islamic Perspective},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {1},
  number = {1},
  pages = {46-52},
  doi = {10.11648/j.ijafrm.20160101.17},
  url = {https://doi.org/10.11648/j.ijafrm.20160101.17},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20160101.17},
  abstract = {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.},
 year = {2017}
}

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TY  - JOUR
T1  - Access to Credits and Indebtedness: Islamic Perspective
AU  - Idris Yahaya Adamu
AU  - Ahmad Khilmy bin Abdul Rahim
AU  - Abu Bakar Hamed
Y1  - 2017/01/20
PY  - 2017
N1  - https://doi.org/10.11648/j.ijafrm.20160101.17
DO  - 10.11648/j.ijafrm.20160101.17
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 46
EP  - 52
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20160101.17
AB  - 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.
VL  - 1
IS  - 1
ER  -

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Author Information

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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APA Style

Idris Yahaya Adamu, Ahmad Khilmy bin Abdul Rahim, Abu Bakar Hamed. (2017). Access to Credits and Indebtedness: Islamic Perspective. International Journal of Accounting, Finance and Risk Management, 1(1), 46-52. https://doi.org/10.11648/j.ijafrm.20160101.17

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ACS Style

Idris Yahaya Adamu; Ahmad Khilmy bin Abdul Rahim; Abu Bakar Hamed. Access to Credits and Indebtedness: Islamic Perspective. Int. J. Account. Finance Risk Manag. 2017, 1(1), 46-52. doi: 10.11648/j.ijafrm.20160101.17

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AMA Style

Idris Yahaya Adamu, Ahmad Khilmy bin Abdul Rahim, Abu Bakar Hamed. Access to Credits and Indebtedness: Islamic Perspective. Int J Account Finance Risk Manag. 2017;1(1):46-52. doi: 10.11648/j.ijafrm.20160101.17

Copy | Download

@article{10.11648/j.ijafrm.20160101.17,
  author = {Idris Yahaya Adamu and Ahmad Khilmy bin Abdul Rahim and Abu Bakar Hamed},
  title = {Access to Credits and Indebtedness: Islamic Perspective},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {1},
  number = {1},
  pages = {46-52},
  doi = {10.11648/j.ijafrm.20160101.17},
  url = {https://doi.org/10.11648/j.ijafrm.20160101.17},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20160101.17},
  abstract = {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.},
 year = {2017}
}

Copy | Download

TY  - JOUR
T1  - Access to Credits and Indebtedness: Islamic Perspective
AU  - Idris Yahaya Adamu
AU  - Ahmad Khilmy bin Abdul Rahim
AU  - Abu Bakar Hamed
Y1  - 2017/01/20
PY  - 2017
N1  - https://doi.org/10.11648/j.ijafrm.20160101.17
DO  - 10.11648/j.ijafrm.20160101.17
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 46
EP  - 52
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20160101.17
AB  - 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.
VL  - 1
IS  - 1
ER  -

Copy | Download