Hasan, Zubair (2011): Riba in La-riba contracts:where to turn in Islamic home financing?
Download (303kB) | Preview
Even as the BBA model has not made a complete exit from Islamic home financing, the musharkah mutanaqisa partnership (MMP) model is fast gaining popularity with the jurists and the bankers alike as a truly interest free alternative. This paper reproduces our earlier evidence that the MMP model is no different from the conventional home financing involving interest. In this context it refers to actual cases from some countries, especially the US, where MMP is gaining ground. We shall reiterate that our Diminishing Balance Model (DBM) in several ways over the MMP..
|Item Type:||MPRA Paper|
|Original Title:||Riba in La-riba contracts:where to turn in Islamic home financing?|
|English Title:||Riba in La-riba contracts: where to turn in Islamic home financing?|
|Keywords:||Key words: Islam; home finance; interest based model; MMP model; DBM|
|Subjects:||D - Microeconomics > D1 - Household Behavior and Family Economics > D10 - General
G - Financial Economics > G2 - Financial Institutions and Services > G20 - General
|Depositing User:||Zubair Hasan|
|Date Deposited:||29 Oct 2011 17:41|
|Last Modified:||14 Oct 2016 04:48|
American Finance House – LARIBA: Financing alternative to the conventional ‘Riba’ system, Lariba.com Home Financing – Accessed on 24.10.2011.
Guidance Financial group White paper series number 1: The declining balance co-ownership program – Accessed on 24.10.2011
Guidance: residential Shari’ah Compliant Finance v. Conventional Finance www.Guidance residential.com – Accessed on 24.10.11
Hasan Zubair (2011): Islamic home finance in the social mirror, ISRA: International Journal of Islamic Finance, Vol. 3, No.1 June
Meera, A. K. M & Razak, D. A (2009): Home financing through the musharakah mutanaqisah contracts: some practical issues, JKAU: Islamic Economics, Vol. 22, No.1, pp. 3-25.
Meezan Bank Easy Home works on a Diminishing Musharakah basis – Accessed on 24.10.2011
Zayan Finance: The declining balance program - integrity in financing; Shari'ah Compliance Information.www.zayanfinance.com/ii-shariah-compliance.php - Accessed on 24.10.2011