Diminishing balance model for Islamic home finance: Final version

Hasan, Zubair (2011): Diminishing balance model for Islamic home finance: Final version. Published in: Journal of Islamic Finance & Banking, Karachi , Vol. 30, No. 3, July-September 2011 (October 2011)

Abstract

This brief note supplements the argument of an earlier paper Islamic Home Financing: Current Models and a Proposal from Social Perspective”; it explains that the Diminishing Balance Model for Islamic home financing is operable in a Shari’ah compliant way even without the Islamic Banking laws accommodating the notion of constructive ownership as envisaged earlier. It further clarifies how the new model scores over the models currently being used for the purpose.

• Item Type: MPRA Paper
• Language: English
• Keywords: Key words: Islamic home finance; interest based model; MMP model; Diminishing Balance model
• Subjects: D - Microeconomics > D1 - Household Behavior and Family Economics > D14 - Household Saving; Personal Finance; G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages

References

Hasan Zubair (2011): Islamic house financing: Current models and a proposal from social perspective, Journal of Islamic Banking & Finance, Karachi, Vol. 23, No. 1 January-March.

Hasan Zubair (2011): Islamic home finance in the social mirror, ISRA: International Journal of Islamic Finance, Vol. 3, No.1 June