Islamic Mortgage
(redirected from Islamic Mortgages)

0.01 sec.

Islamic Mortgage

A mortgage made according to the sharia, or Islamic law, which forbids the payment or receipt of interest. An Islamic mortgage may be an interest-free loan, but often it is a more complex transaction. For example, a bank could buy a house for cash and then re-sell it to the "borrower" for a profit through amortized payments such that the profit is the same as the bank would have made had it extended a regular loan. Other types involve the bank becoming a partner with the "borrower" so that both co-own the house or business, a scenario in which the borrower gradually buys the bank's share of ownership with a series of payments.

Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.

?Page tools

Printer friendly
Cite / link

Feedback
Add definition

Mentioned in	?		References in periodicals archive	?		Financial browser	?		Full browser	?
No references found			Martyn Smith, Head of Mortgage Products, Legal & General Mortgage Club, said, "I am delighted to welcome IBB as a partner, who are specialists in the field of Islamic mortgages. Home finance partnership for Islamic Bank of Britain, Legal & General by CPI Financial However, for Islamic mortgages, "it is possible public auctions won't be necessary, but we are still working on the execution process," said Jody Waugh, a partner at Al Tamimi & Co. Tamweel wins the right to repossess five homes by Khaleej Times (Dubai, United Arab Emirates) AaAaAaAaAaThe first action taken by any country serious about Islamic finance is usually to remove any tax barriers; for example, the double taxation that can occur on Islamic mortgages when title to the property needs to be transferred twice (first from the seller to the bank, and then from the bank to the eventual owner). Rise to the challenge by Islamic Banking & Finance			Irrelevant Costs irrevocable Irrevocable Beneficiary Irrevocable Corporate Purchase Order Irrevocable Letter of Credit Irrevocable Trust IRS IRS Restructuring and Reform Act of 1998 Irtihan Irving Fisher IS ISDA ISE Isencao de imposto iShares Ishtirak ISJ ISK Islamic American Relief Agency Islamic Bank Islamic Banking Islamic Development Bank Islamic Finance Islamic Loan Islamic Mortgage Islamic Mortgages Island Island Display Island Position Island Reversal ISMA ISO ISO 14000 Isocosto Isocout Isocuanta Isoquant Isqat Israeli New Sheqel ISS Issue Issue Date Issue Price Issued Capital Stock Issued Share Capital Issuer Issuing Bank Issuing House Istanbul Stock Exchange Istihqaq al-Ribh Istisna			Islamic Jihad Union Islamic jurisprudence Islamic jurispudence Islamic Kalam Islamic law Islamic law Islamic lawyer Islamic lawyer Islamic lawyers Islamic lawyers Islamic Legal Studies Program Islamic Liberation Party Islamic Loan Islamic Loans Islamic MAL Islamic Market Extra Liquid Index Islamic Media Arcs Network Islamic Medical Association of Malaysia Islamic Medical Association of North America Islamic Medical Association of South Africa Islamic Medical Association of Uganda Islamic Medical Ethics Forum Islamic Medium Term Note Islamic Month Islamic Months Islamic Mortgage Islamic Mortgages Islamic movement Islamic Movement of America Islamic Movement of Florida Islamic Movement of Iraqi Kurdistan Islamic Movement of Uzbekistan Islamic Multimedia Education Group Islamic Mysticism Islamic Mysticism Islamic Nation Islamic National Accord Association Islamic Nationalist Revolutionary Council of Afghanistan Islamic Networks Group Islamic New Year Islamic News and Information Network Islamic Observation Centre Islamic Online University Islamic Organization for Medical Sciences Islamic Organization of Latin America Islamic Pakistan Islamic Pakistan Islamic Party of Britain Islamic Party of Eastern Turkestan Islamic Party of the Philippines Islamic Party of Turkestan Islamic Peninsula Movement for Change Islamic philosophy

Financial Dictionary

Free Tools:	For surfers: Free toolbar & extensions \| Word of the Day \| Help For webmasters: Free content \| Linking \| Lookup box \| Double-click lookup

Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.

Islamic Mortgage (redirected from Islamic Mortgages)

Islamic Mortgage
(redirected from Islamic Mortgages)