English, Article edition: A CONFLICT OF INTEREST: ISLAMIC HOME FINANCING IN AMERICA Omar Nayeem; Mohamed Shiliwala; Wasim Shiliwala

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Bookmark: http://trove.nla.gov.au/version/107991
Physical Description
  • article
Language
  • English

Edition details

Title
  • A CONFLICT OF INTEREST: ISLAMIC HOME FINANCING IN AMERICA
Author
  • Omar Nayeem
  • Mohamed Shiliwala
  • Wasim Shiliwala
Physical Description
  • article
Notes
  • The rising Muslim population in the USA has fuelled an increase in the domestic demand for ' <formula format=​"inline"> <file name=​"ecaf_1889_mu1.gif" type=​"gif" /​> </​formula>' finance. One of the prominent restrictions that <formula format=​"inline"> <file name=​"ecaf_1889_mu2.gif" type=​"gif" /​> </​formula> imposes on financial practices is a prohibition on the payment and collection of "riba", interest on loans. This paper examines the home financing models of three prominent Islamic financial institutions. It identifies the transaction models that these institutions use, explains the differences among these models and illustrates how each institution 'sells' its chosen approach to the public. Copyright (c) 2009 The Authors. Journal compilation (c) Institute of Economic Affairs 2009. Published by Blackwell Publishing, Oxford.
  • RePEc:bla:ecaffa:v:29:y:2009:i:2:p:22-27
Language
  • English
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