Is Conventional Mortgage Halal? کیا روایتی مارٹگیج حلال ہے؟
کیا روایتی مارٹگیج حلال ہے؟
Islamic Economics Project
RESEARCH ON ISLAMIC ECONOMICS AND FINANCE AND ROLE OF FAITH IN MARKETS AND SOCIETY IN POST MODERN SCIENTIFIC AGE
Is Conventional Mortgage Halal
Conventional banks only provide loans no matter whether the loan amount is used for purchasing assets or not. As far as repayment of debt is considered in conventional finance lease or mortgage loans, the interest is due from the very first date of sanction of loan till the very last. If the asset remains unusable during the conventional finance lease, the instalments including interest and principal repayment will continue without any break. If interest amount is not paid on time, then interest has to be paid on accrued interest along with financial penalties. Compounded interest can multiply exponentially.
Experts Urge Turning to Islamic Economics for Meeting SDGs
Experts urge adopting Islamic Economics to meet Sustainable Development Goals at Ist Islamic Economics and Development Conference at Quaid e Azam University Islamabad on December 7, 2023.
A Reflection of Divine-based Islamic Economics
This paper provides reflection on Islamic economics and rightly concludes that a lot of work needs to be done in providing distinct story of why financial and economic crises happen and what Islamic economics can offer through its principles, values, instruments and markets.
Highlights of IPCC Climate Change Report 2023
The report recognizes the interdependence of climate, ecosystems and biodiversity, and human societies; the value of diverse forms of knowledge; and the close linkages between climate change adaptation, mitigation, ecosystem health, human well-being and sustainable development, and reflects the increasing diversity of actors involved in climate action.
Do Islamic Microfinance Institutions Affect the Socio-economic Development of the Beneficiaries
This paper aims to investigate the effect of Islamic microfinance on poor households through the case of the IKSAR Qard al-Hasan Program in Turkey. It examined the changes in the socio-economic status of beneficiaries before and after the program. The study indicated that Islamic microfinance and qard al-hasan, which were combined in the IKSAR Qard al-Hasan Program, have direct and indirect positive effects on the borrowers.
Highlights of Global Sustainable Development Report 2023
This report is a call to accept transformations with the instantly needed to accelerate progress toward the Sustainable Development Goals. The last report was published in 2019 after that many challenges have arrived, progress has been restricted in many areas, partly as a consequence of a confluence of crises – the ongoing pandemic, rising inflation and the cost-of-living crisis, environmental and economic distress, along with regional and national unrest, conflicts, and natural disasters.
Islamic Sustainable and Responsible Investment Criteria
This study explores the need for developing socially responsible investment criteria in Islamic finance. There is global attention given to environmental sustainability.
Highlights of IFSB Report 2023
The IFSB’s Islamic Financial Services Industry (IFSI) Stability Report 2023 presents an assessment of the key vulnerabilities, resilience, and future outlook of the global IFSI in general and in the IFSB member jurisdictions in particular across three key segments: Islamic banking, Islamic capital market and Takaful.
How Diverse are Shariah Supervisory Boards of Islamic Banks?
This study aims to examine diversity in the composition of Shariah supervisory boards (SSBs) of Islamic banks (IBs). It investigates diversity from two perspectives: existing composition of SSBs and the regulatory frameworks and standards of selected Organization of Islamic Cooperation countries. Diversity characteristics include education, nationality, gender and age.
Islamic Economics Project 