Can I read Pious Property : Islamic Mortgages in the United States on EtoBox?

Pious Property : Islamic Mortgages in the United States by Bill Maurer is a book available to read on EtoBox.

What is Pious Property : Islamic Mortgages in the United States about?

Owning a home has always been central to the American dream. For the more than one million Muslims in the United States, this is no exception. However, the Qur'an forbids the payment of interest, which places conventional home financing out of reach for observant Muslims. To meet the growing Muslim demand for home purchases, a market for home financing that would be halal, or permissible under Islamic law, has emerged. In Pious Property, anthropologist William Maurer profiles the emergence of this new religiously based financial service and explores the ways it reflects the influence of Muslim practices on American economic life and vice versa. Pious Property charts the development of Islamic mortgages in America, starting with Islamic interpretations of the prohibition against riba—literally translated as'increase'but interpreted as'usury'or'interest.'Maurer then explores the different practices that have emerged as permissible options for Islamic homebuyers—such as lease-to-own arrangements, profit-loss sharing, and cost-plus contracts—and explains how they have gained acceptance in the Islamic community by relying on payment schemes that avoid standard interest rate payments. Us

Author

Bill Maurer

Publisher

New York: Russell Sage Foundation

Published

2006

Language

EN

ISBN

9781610443845

Subjects

Business, Anthropology, Finance