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- Title
Kepentingan Tindakan Undang-undang terhadap Peminjam Ingkar Pembiayaan Mikro dalam Memastikan Keadilan kepada Institusi Pembiayaan di Malaysia.
- Authors
YAACOB, SITI AMIRA; MARKOM, RUZIAN; DAHLAN, NUR KHALIDAH
- Abstract
Microfinance plays a vital role in assisting small and medium entrepreneurs to continue their businesses. This article discusses the importance of legal action against defaulting borrowers and the execution of legal action taken in Malaysia. Identifying the importance and execution of the legal action in Malaysia helps to understand the effectiveness of the legal process implemented against defaulting borrowers. The legal process implemented is also described in this article to help us understand the types of legal action against defaulting borrowers. This study is a doctrinal study of pure law. The data was obtained from relevant statutes, books, articles, and interviews methods covering five major microfinance institutions, including banking and non-banking. Finally, this study shows the implementation of legal action in microfinance institutions based on Foundation, Private Trust Body, Government Agency, Community Bank, and Cooperatives Bank where the findings of the study showed an increased repayment amount for each institution. This study will help Malaysia strengthen the national legal system to balance the needs of borrowers without distracting the importance of microfinance institutions.
- Subjects
MALAYSIA; BUSINESSPEOPLE; LEGAL education; ACTIONS &; defenses (Law); COOPERATIVE banking industry; MICROFINANCE
- Publication
Malaysian Journal of Law & Society, 2022, Vol 31, p47
- ISSN
1394-7729
- Publication type
Article
- DOI
10.17576/juum-2022-31-04