Diminishing Musharakah in Islamic Banks: An analysis based on home financing

Islamic Sciences

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Field Value
 
Title Diminishing Musharakah in Islamic Banks: An analysis based on home financing
 
Creator Muhammad Junaid Ali Khan, Dr. Abdul Majid
 
Description Islamic Banking is one of the fastest growing banking systems in the modern world. It has also achieved significant growth in the Pakistani banking sector in the recent decades. Diminishing Musharakah (DM) is an Islamic mode of finance which not only provides home financing facilities to the customers but also provides other long term financing transaction such as machinery and equipment financing in Islamic banks. In September 2020, DM has the largest share in the Islamic banking financing in Pakistan at 34.5 percent. Considering the widespread acceptance of DM, this paper discusses the shariah structure of DM and its use as a home finance product, specifically its variants, in Islamic banking Institutions. This paper also clarifies the issues which create confusions in the minds of the common public about Islamic banking products, emphasizing the importance of this product for Islamic banking Institutions.
 
Publisher Society for Social Sciences and Research Association
 
Date 2021-06-07
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Identifier http://islamicsciences.org/index.php/islsci/article/view/85
 
Source Islamic Sciences; Vol. 4 No. 1 (2021): Islamic Sciences
2707-7470
2617-9075
 
Rights Copyright (c) 2021 Islamic Sciences
 

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