Sharī‘ah Analysis of Acquisition of House Financing Portfolio
Journal Title: SEISENSE Journal of Management - Year 2019, Vol 2, Issue 2
Abstract
Purpose - The Objective of this study is to provide a compr ehensive scenario of the Acquisition of House Financing transaction taken place between Bank Islami and Citi Bank during 2010 in the light of Sharī’ah guidelines. The purpose of this whole complex transaction was to acquire Citi Banks house financing portf olio. The successful completion of such a transaction is an important milestone for Islamic Banking. The complete understanding of such transactions is of prime importance for Islamic banking academia. Findings - The study concludes that the transaction b ased on Hawalah (assignment of debt) and Wakalah Lil Qabz (recovery agency) is very complex and intelligently designed to conduct these transactions. Policy Implications - This study will enable the policymakers , Sharī’ah Advisors , and bankers to explore new avenues for investment in Islamic Banking Institutions. This study will also enable academicians and research students to conduct research for product development in related areas with conventional banks. The complete understanding of such transactions is of prime importance for the product development department of Islamic Banks.
Authors and Affiliations
Muhammad Asghar Shahzad, Syed Kashif Saeed, Asim Ehsan
Keywords
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- EP ID EP39637
- DOI https://doi.org/10.33215/sjom.v2i2.126
- Views 257
- Downloads 0
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