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"Riba in La-riba contracts: where to turn in Islamic home financing?

Author

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  • Hasan, Zubair

Abstract

This note demonstrates that the Msharakah Mutanaqisa home financing model is worsethan the conventional interest bearing loan financing; it is not only based oncompounding of return italso passes the ownership to the customer at a slower rate. The purpose is to draw attention of the Shari'ah scholars, bankers and regulators of Islamic bankers with a view to elisit comments for editing before its publication.

Suggested Citation

  • Hasan, Zubair, 2012. ""Riba in La-riba contracts: where to turn in Islamic home financing?," MPRA Paper 38166, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:38166
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    File URL: https://mpra.ub.uni-muenchen.de/38166/1/MPRA_paper_38166.pdf
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    References listed on IDEAS

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    1. Hasan, Zubair, 2011. "Diminishing balance model for Islamic home finance: Final version," MPRA Paper 32766, University Library of Munich, Germany.
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    Cited by:

    1. Hasan, Zubair, 2012. "Mortgage contracts in Islamic home finance: Musharakah Mutanaqisah program vs. Zubair diminishing balance model," MPRA Paper 39067, University Library of Munich, Germany.
    2. Hasan, Zubair, 2012. "Islamic norms, the excel formula and home financing models," MPRA Paper 47955, University Library of Munich, Germany, revised 2013.
    3. Hasan, Zubair, 2012. "Excel formula and Islamic norms for home financing," MPRA Paper 42835, University Library of Munich, Germany.

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      More about this item

      Keywords

      Islamic ban on interest; Compounding of return on investment; Islamic verdict;
      All these keywords.

      JEL classification:

      • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
      • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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