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- Title
Home Ownership the Islamic Way: Sharia-Compliant Mortgages in the United States.
- Authors
Murray, Jennifer
- Abstract
The article discusses mortgage issues in Muslim property ownership in the U.S. It is stated that prohibitions in the Koran against interest and uncertainty make mortgages forbidden under Islam. To address this, U.S. lenders have created Sharia-compliant mortgages under financing mechanisms such as murabaha financing, Ijarah-wal-iqtina financing and musharakah financing. The author shares that Islamic mortgages have expanded Muslim home ownership in the U.S.
- Subjects
UNITED States; HOME ownership; MORTGAGES; QUR'AN; MURABAHAH; MUSLIM Americans
- Publication
SAIS Review of International Affairs, 2007, Vol 27, Issue 2, p93
- ISSN
1945-4716
- Publication type
Article
- DOI
10.1353/sais.2007.0037