2858) ISLAMIC FINANCE NOT CRUEL, SAYS AIBIM - BERNAMA - 21/6/16

KUALA LUMPUR, June 21 (Bernama) -- The Association of Islamic Banking Institutions Malaysia (AIBIM) has dismissed claims by the Malaysian Muslim Consumers' Association (PPIM) that customers of Islamic finance are at higher risk of bankruptcy compared to customers of conventional finance, saying there is no element of cruelty in Islamic finance.

In a statement today, AIBIM said PPIM's allegations did not take into consideration the various initiatives taken by the former to address the problems faced by customers of Islamic finance.

Recently, PPIM Chief Activist Datuk Nadzim Johan urged Bank Negara Malaysia (BNM) and the National Fatwa Council to review the Islamic housing system offered by banking institutions to the public.....



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