Housing is considered the basic necessity of human being and its shortage is a major problem worldwide especially in less developed countries including Pakistan. Recently the commercial banks in Pakistan have started looking for housing finance. In addition to conventional banks Islamic banks...

Purpose: This study presents an analysis of current practices of Islamic mortgages in the light of the principles of Islamic financial system, to document divergences—if any. A subsidiary goal is to develop an Islamic Mortgage Model (IMM) based on Musharakah principles.Methodology: We document...