Islamic banking players have been urged to be sympathetic to house buyers of abandoned projects and not burden them with debt as it may lead to bankruptcy. Malaysian Muslim Consumers Association (PPIM) financial services monitoring bureau chief, Sheikh Abdul Kareem Said Khadaied said many house buyers face legal action filed by Islamic banking players demanding high payment for uncompleted houses.
“For example, a house buyer was ordered by the court to pay back the full price of the house costing RM492,000 to a bank although the bank only paid RM39,000 to the developer,” he said at Consumer Forum 2012 entitled ‘Is Islamic Banking Only In Name?’ here………………………………………..Full Article: Source