Affordable housing finance in the IDB member countries : challenges and currently practiced modes of Islamic housing finance
Joint Authors
al-Zafar, Atiq
Shirazi, Nasim Shah
Ali, Salman Sayyid
Source
Islamic Research and Training Institute
Issue
Vol. 2013, Issue 1-4, 6-20 (31 Dec. 2013), pp.1-35, 35 p.
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
2013-12-31
Country of Publication
Saudi Arabia
No. of Pages
35
Main Subjects
Economy and Commerce
Religion
Islamic Studies
Topics
- Banks
- Islamic jurisprudence
- Islam
- Housing
- Financing
- Kazakhstan
- Religious aspects
- Banking
- Leasing leading to proprietorship
- Islamic Development Bank
Abstract EN
Housing is one of the basic needs.
It is linked with many other sectors of the economy.
Promoting this sector consequently promotes employment, consumption and investment in the economy.
A number of factors limit the supply of housing especially in the urban cities.
Non-transparent ownership, vague property rights, weak legal and regulatory framework and ineffective foreclosures laws, ineffective land registration system, high transaction costs, and inadequate long term housing finance funds have been the major issues of the housing sector.
Several Islamic modes of housing finance exist in the market.
Musharakah Mutanaqisah (diminishing partnership or Diminishing Balance Partnership; DBP) is the most widely used mode of housing finance followed by Ijarah and Murabahah for completed properties.
For property under construction, Ijarah Mawsoofa Bi Dhimma (IBMD) is the most widely used followed by DBP and Istisna.The paper suggests some possible solutions for removing some of the constraints on housing finance
American Psychological Association (APA)
Shirazi, Nasim Shah& Ali, Salman Sayyid& al-Zafar, Atiq. 2013. Affordable housing finance in the IDB member countries : challenges and currently practiced modes of Islamic housing finance. Islamic Research and Training Institute،Vol. 2013, no. 1-4, 6-20, pp.1-35.
https://search.emarefa.net/detail/BIM-600868
Modern Language Association (MLA)
Shirazi, Nasim Shah…[et al.]. Affordable housing finance in the IDB member countries : challenges and currently practiced modes of Islamic housing finance. Islamic Research and Training Institute No. 1-4, 6-20 (2013), pp.1-35.
https://search.emarefa.net/detail/BIM-600868
American Medical Association (AMA)
Shirazi, Nasim Shah& Ali, Salman Sayyid& al-Zafar, Atiq. Affordable housing finance in the IDB member countries : challenges and currently practiced modes of Islamic housing finance. Islamic Research and Training Institute. 2013. Vol. 2013, no. 1-4, 6-20, pp.1-35.
https://search.emarefa.net/detail/BIM-600868
Data Type
Journal Articles
Language
English
Notes
Includes appendix.
Record ID
BIM-600868