Islamic home finance in the social mirror
Source
ISRA International Journal of Islamic Finance
Issue
Vol. 3, Issue 1 (30 Jun. 2011), pp.7-24, 18 p.
Publisher
International Shari'ah Research Academy for Islamic Finance
Publication Date
2011-06-30
Country of Publication
Malaysia
No. of Pages
18
Main Subjects
Economy and Commerce
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Islamic jurisprudence
- Islamic economics
- Sales
- Contracts
- Migration
- Housing
- Basic needs
- Financing
- Resource allocation
- Ownership
- Real property
- Usury
- Customers
- Subprime mortgage
- Installment sales
- Transactions
- Islamic Banks
- Deeds
Abstract EN
Shelter is one of the basic needs for human beings.
Its availability for the people is an Islamic imperative.
In view of the appalling living conditions of a substantial proportion of the population in most countries around the world, especially Muslim, Islamic banks have entered the field with various schemes for home financing.
In this infant industry, this effort is understandably guided by the profit motive, but a social dimension has to surface in the course of time.
Unfortunately, the models banks currently use for home financing remain under the juridical gaze, more so as the practice is not always found to be transparent.
This paper looks at Islamic home financing models in a broader societal context.
It evaluates the efficacy of the current financing structures practised and suggests a new approach.
The proposed model is shown as superior to the existing ones.
It meets the norms of equity, fair play and openness and does not, presumably, violate any other Islamic norm.
Finally, the paper makes some policy suggestions to integrate Islamic home financing into the broader social goals of an Islamic economy.
American Psychological Association (APA)
Hasan, Zubayr. 2011. Islamic home finance in the social mirror. ISRA International Journal of Islamic Finance،Vol. 3, no. 1, pp.7-24.
https://search.emarefa.net/detail/BIM-717614
Modern Language Association (MLA)
Hasan, Zubayr. Islamic home finance in the social mirror. ISRA International Journal of Islamic Finance Vol. 3, no. 1 (Jun. 2011), pp.7-24.
https://search.emarefa.net/detail/BIM-717614
American Medical Association (AMA)
Hasan, Zubayr. Islamic home finance in the social mirror. ISRA International Journal of Islamic Finance. 2011. Vol. 3, no. 1, pp.7-24.
https://search.emarefa.net/detail/BIM-717614
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 23-24
Record ID
BIM-717614