Diminishing balance model for Islamic home finance: Final version
AbstractThis 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.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 32766.
Date of creation: 10 Aug 2011
Date of revision:
Key words: Islamic home finance; interest based model; MMP model; Diminishing Balance model;
Find related papers by JEL classification:
- D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-22 (All new papers)
- NEP-ARA-2011-08-22 (MENA - Middle East & North Africa)
- NEP-URE-2011-08-22 (Urban & Real Estate Economics)
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- Hasan, Zubair, 2011.
"Riba in La-riba contracts:where to turn in Islamic home financing?,"
34386, University Library of Munich, Germany.
- Hasan, Zubair, 2012. ""Riba in La-riba contracts: where to turn in Islamic home financing?," MPRA Paper 38166, University Library of Munich, Germany.
- Hasan, Zubair, 2011. "Riba in La-riba contracts: where to turn in Islamic home financing?," MPRA Paper 35421, University Library of Munich, Germany.
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