Consumer debt prevention and discharge in the Arabian Gulf
By: Burton, D
.
Material type: 
BookPublisher: Journal of Consumer Policy Description: 44(1), Mar, 2021: p.27-42.Subject(s): Consumer credit, Over-indebtedness, Insolvency, Islam, Sharia
In:
Journal of Consumer PolicySummary: This article analyses the relationship between Islam and consumer policy in the domain of consumer credit and over-indebtedness in six countries in the Arabian Gulf. The findings indicate that Islamic societies are distinct policymaking environments and share similarities in the development of consumer credit and policies relating to debt prevention and debt discharge. However, several differences are also observable that reflect complex variations in the social, political, historical, and economic trajectories of each country. A dilemma for policymakers is how to reconcile greater levels of consumer credit and over-indebtedness with the requirements of Islam. Policy responses have been a mix of legislative change and soft law. The UAE is the only country that has introduced an insolvency law for natural persons. Discriminating between the citizens and expatriates is a feature of consumer policy in all countries. – Reproduced
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Articles
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Indian Institute of Public Administration | 44(1), Mar, 2021: p.27-42 | Available | AR125820 |
This article analyses the relationship between Islam and consumer policy in the domain of consumer credit and over-indebtedness in six countries in the Arabian Gulf. The findings indicate that Islamic societies are distinct policymaking environments and share similarities in the development of consumer credit and policies relating to debt prevention and debt discharge. However, several differences are also observable that reflect complex variations in the social, political, historical, and economic trajectories of each country. A dilemma for policymakers is how to reconcile greater levels of consumer credit and over-indebtedness with the requirements of Islam. Policy responses have been a mix of legislative change and soft law. The UAE is the only country that has introduced an insolvency law for natural persons. Discriminating between the citizens and expatriates is a feature of consumer policy in all countries. – Reproduced
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