Subjects
E-Books
Towards the Construction of a Contemporary Islamic Educational Theory
Fathi Malkawi
Islamization of Knowledge: Conceptual Background, Vision and Tasks
Salisu Shehu
Economic Guidelines in the Qur'an
S.M. Hasanuz Zaman
Contribution of Islamic Thought to Modern Economics
Misbah Oreibi
An Introduction to Islamic Economics
Muhammad Akram Khan
Islamic Thought and Culture
Isma'il R. al Faruqi
Islamization of Knowledge: Background, Models and the Way Forward
Malam Sa'idu Sulaiman
| Mortgage Financing for Muslim Americans |
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Muhammed-Shahid Ebrahim and Zafar A. Hasan Islamic economics is a rapidly growing discipline seeking to redirect economic behavior under the umbrella of Islam. This field combines malleable modem economic concepts with immutable moral principles in its attempt to address the economic climate of a given society. The most significant differences between Islamic economics and the world’s more prevalent economic systems are the Islamic ban on riba (usury) and the Islamic institution of zakah. The ban on usury is based on the verse: 0 you who believe, fear Allah and give up what remains due to you of usury if you are indeed Believers. And if you do not, then be warned of war (against you) by Allah and his messenger, while if you repent you shall have your capital. Do not wrong and you shall not be wronged (Qur’an 2:278-9).This paper addresses mortgage financing problems on real property that Muslims face as a result of Islam’s ban on interest. The United States has a unique tax system designed to encourage investment in real property. Congress allows property owners to deduct all mortgage interest, along with operating expenses and depreciation write offs, from income taxes. This is an indirect form of government subsidy. |
Upcoming Events
Summer Students Program 2010
The International Institute of Islamic Thought (IIIT) is pleased to announce its Summer Students Program for 2010, which will run for six weeks between Monday, June 28 and Friday, August 6, 2010. The program is designed for senior undergraduate and graduate students who are majoring in the humanities or social science disciplines and who have a particular interest in developing their knowledge and research skills in the core areas of Islamic studies...more
Links
Int. Inst. of Islamic Thought (IIIT)
Int. Inst. of Islamic Thought and Civilization (ISTAC)
Int. Inst. of Advanced Islamic Studies (IAIS)
