RESIDENTIAL MORTGAGE CRISIS - AN ISLAMIC FINANCE PERSPECTIVE

Risk Governance & Control: Financial Markets & Institutions

关键词: Credit Crisis of 2007;    Islamic Finance;    Shari’;    ah Law;   

DOI  :  10.22495/rgcv4i2c1art7

学科分类：社会科学、人文和艺术（综合）

来源: Virtus Interpress

【 摘 要 】

In this paper, we try to analyze the US residential mortgage crisis in the light of the financial principles of Shari’ah. For this purpose, we will firstly present a summery of the US residential mortgage crisis. Then, in the second part of the paper, we will explore relevant financial principles of Shari’ah law. In this part, special attention is paid to analyze the residential mortgage crisis according to Shari’ah principles and Shia interpretation of Shari’ah through Civil Code of Iran. The main claim is that if mortgage transactions had been concluded in compliance with the principles of Shari’ah law, the whole chain of crisis would not have occurred.

【 授权许可】

CC BY-NC