Publication:
Diminishing balance model for Islamic home finance
Abstract
This 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.
Keywords
Islamic home finance , Interest based model , MMP model , Diminishing Balance model
Citation
Hasan, Zubair. (2011). Diminishing balance model for Islamic home finance. Journal of Islamic Finance & Banking, 30 (3), pp. 40-46.
Publisher
International Association of Islamic Banks Karachi