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Pious Property: Islamic Mortgages in the United States

Bill Maurer. Pious Property: Islamic Mortgages in the United States Authors:Bill Maurer.
Publisher:
Year:2006
Serie:
Pages:123
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Price:2837 rub.
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Book Summary:
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 Bill 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...

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