A CONFLICT OF INTEREST: ISLAMIC HOME FINANCING IN AMERICA

Omar Nayeem, Mohamed Shiliwala and Wasim Shiliwala

Economic Affairs, 2009, vol. 29, issue 2, 22-27

Abstract: The rising Muslim population in the USA has fuelled an increase in the domestic demand for ‘’ finance. One of the prominent restrictions that imposes on financial practices is a prohibition on the payment and collection of riba, interest on loans. This paper examines the home financing models of three prominent Islamic financial institutions. It identifies the transaction models that these institutions use, explains the differences among these models and illustrates how each institution ‘sells’ its chosen approach to the public.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ecaffa:v:29:y:2009:i:2:p:22-27

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