The role of financial regulator in protecting bank consumers from unfair contract terms: the case of Malaysian Islamic banks

This chapter aims to examine Bank Negara Malaysia’s (BNM) approach in fulfilling its financial consumer protection mandate from unfair contract terms and the statutory framework relevant for consumer protection in the domestic market. This is a qualitative-based research. Using content analysis, this study analyses BNM’s Financial Stability and Payment Systems Report from 2012 to 2016, specifically on the ‘market conduct and consumer empowerment’ to explore BNM’s prudential regulatory, supervisory and consumer protection roles in protecting bank consumers from unfair contract terms. It is found that even if a number of standards and guidelines have been issued by BNM in improving ‘fairness and transparency’, the potential risk facing bank consumers from unfair terms in standard consumer contracts of Islamic banks especially where terms may be unfair or unclear remains unchanged. This study recommends that BNM as the Central Bank and financial regulator of Malaysia promotes self-regulation of the Islamic banks by adopting value-based banking of a consumer-focussed culture in delivering an effective protection for consumers from unfair contract terms and empowering them in their dealings with Islamic banks in Malaysia. This study will be helpful in bringing a policy formulation by BNM in identifying their weak areas and suggesting improvements in pursuing a strong consumer protection agenda from unfair contract terms

\u27Fencing them in\u27 : the A-league, policing and the dilemma of public order

The establishment of an elite national Australian soccer league has been accompanied by an unprecedented growth in popularity for the world game in several Australian cities. Such growth presents numerous challenges for public order maintenance, particularly in light of the widespread concern over the relationship between soccer, disasters in major closed venues and violence. After outlining the emerging issues, and the extant Australian research into the phenomena of policing and sports crowd disorder, this study offers a knowledge based approach to foster informed, reflective and collaborative policing in elite and sub-elite soccer venues. Rather than advocating a fundamental shift in the current public order policing paradigm, we suggest drawing on elements of best practice that are currently adopted in other Australian sporting and public order settings and appropriate overseas experience to facilitate a better understanding of the dynamics of Australian soccer fandom. The result should be the promotion of safer yet exciting events at which interactive crowd management based on harm minimization principles are key features.<br /