TY  - CHAP
AB  - AbstractPurpose – This chapter examines the application of the concept of maslahah in household debt management.
Methodology/approach – A combination of quantitative and qualitative approaches is employed. Questionnaires were used for data collection.
Findings – Malaysian Muslims become indebted for four main purposes: buying their first car, their first home, helping family members, and financing their studies. Thus, Muslims principally borrow funds to fulfil their dharuriyyat (essentials) and hajiyyat (complementary) needs, and in some cases, they borrow for tahsiniyyat (luxury) purposes.
Research limitation/implications – The respondents of this research are working Muslims in the Klang Valley, Kuala Lumpur, Malaysia.
Practical implication – This study helps Islamic finance institutions to develop better products to offer customers. Its results can also give a real picture about borrowing activities to the Credit Counselling and Debt Management Agency.
Originality/value – Prior studies have mainly examined household debt management. This study surveys local Muslims’ household borrowing pattern to understand the nature of personal debt management and then analyses these data against the concept of maslahah. This will enrich the currently available literature.
SN  - 978-1-78756-283-7, 978-1-78756-284-4/
DO  - 10.1108/978-1-78756-283-720181002
UR  - https://doi.org/10.1108/978-1-78756-283-720181002
AU  - Ali Nor Aini
AU  - Wan Ahmad Wan Marhaini
AU  - Sarif Suhaili
AU  - Kamri Nor ‘Azzah
AU  - Azahari Raihanah
ED  - Asmak Ab Rahman
PY  - 2018
Y1  - 2018/01/01
TI  - Application of the Concept of Maslahah in Household Debt Management
T2  - New Developments in Islamic Economics
PB  - Emerald Publishing Limited
SP  - 19
EP  - 33
Y2  - 2024/04/23
ER  -