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Religion, Islamic Values and Debt Management, the Malaysian Experience

In: Wealth Management and Investment in Islamic Settings

Author

Listed:
  • Wan Marhaini Wan Ahmad

    (Universiti Malaya)

  • Asmak Ab Rahman

    (Universiti Malaya)

  • Azizi Che Seman

    (Universiti Malaya)

Abstract

This chapter examined the behaviour of Muslims towards the management of debt. Islam has its unique values which are completely different than the conventional financial system. In this system debt is based on the behaviour of both parties. No one is trying to exploit the other party. According to teaching of Islam, debt has not any reward in this world except reward in life hereafter. This study is based on the urban centres of Malaysia, households survey was conducted and Hierarchical regression was employed for the empirical analysis. It has been observed that those are following their religion particularly Islam they have higher moral values than those are not following proper values of religion. It has been observed that follower of religion have positive debt management behaviour.

Suggested Citation

  • Wan Marhaini Wan Ahmad & Asmak Ab Rahman & Azizi Che Seman, 2022. "Religion, Islamic Values and Debt Management, the Malaysian Experience," Springer Books, in: Toseef Azid & Murniati Mukhlisin & Othman Altwijry (ed.), Wealth Management and Investment in Islamic Settings, chapter 0, pages 211-226, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-3686-9_14
    DOI: 10.1007/978-981-19-3686-9_14
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