Logo

The PFI and Islamic Project Finance: Exploring compatibility

Umar, Abdullahi Ahmed and Wan Abdullah Zawawi, Noor Amila and Khamidi, M. Faris and Idrus, Arazi and Ahmad, Mahadi (2012) The PFI and Islamic Project Finance: Exploring compatibility. In: World Conference on Islamic Thoughts & Civilization 2012, 11-12 September 2012, Perak, Malaysia.

[img] PDF
Restricted to Registered users only

84Kb
[img] PDF
Restricted to Registered users only

84Kb

Official URL: http://www.wcit2012.my

Abstract

Public-Private Partnerships (PPP) or Private Finance initiatives (PFI) as it is referred to in some regions has become the most favoured strategy for the provision of public infrastructure by governments across the globe. The reasons for adopting this procurement strategy has been to reduce public sector borrowing, and provision of infrastructure faster than would have been possible relying on public sector finances. However, the use of high cost interest-bearing conventional project finance has cast a shadow of distrust between the public and their government resulting in expensive buy-backs, renegotiations and in extreme cases, cancellation of the projects. This paper explores the compatibility of the PFI and interest-free Islamic project finance. The paper argues that PFI, which is used for the provision of public infrastructure for the social well-being of society, is compatible with the intent of Islamic finance.

Item Type:Conference or Workshop Item (Paper)
Subjects:H Social Sciences > H Social Sciences (General)
T Technology > TH Building construction
T Technology > TA Engineering (General). Civil engineering (General)
Departments / MOR / COE:Departments > Civil Engineering
Mission Oriented Research > Sustainable Development
ID Code:8207
Deposited By: AP Dr Noor Amila Wan Abdullah Zawawi
Deposited On:08 Oct 2012 00:07
Last Modified:19 Jan 2017 08:21

Repository Staff Only: item control page

Document Downloads

More statistics for this item...