The Islamic response to the ever present need of home financing manifests itself predominantly in ‘Bai-Bithaman Ajil' (BBA) and ‘Musharakah Mutanaqisah' (MM) inter alia. They are both essentially structured concepts consisting of Murabahah in the case of BBA, and musharakah and Ijarah in the...

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...