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

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  • Hasan, Zubair

Abstract

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..

Suggested Citation

  • Hasan, Zubair, 2011. "Riba in La-riba contracts:where to turn in Islamic home financing?," MPRA Paper 34386, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:34386
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    File URL: https://mpra.ub.uni-muenchen.de/34386/1/MPRA_paper_34386.pdf
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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. "Excel formula and Islamic norms for home financing," MPRA Paper 42835, University Library of Munich, Germany.
    2. 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.
    3. Hasan, Zubair, 2012. "Islamic norms, the excel formula and home financing models," MPRA Paper 47955, University Library of Munich, Germany, revised 2013.

    More about this item

    Keywords

    Key words: Islam; home finance; interest based model; MMP model; DBM;

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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