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Understanding About Islamic Mortgage System

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Added on  2020-06-03

Understanding About Islamic Mortgage System

   Added on 2020-06-03

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Research Proposal
Understanding About Islamic Mortgage System_1
Table of ContentsBackground of the study..............................................................................................................1Research aims and objectives......................................................................................................1Research question........................................................................................................................2Rationale of the study..................................................................................................................2Literature review..........................................................................................................................2Research methods and tools.........................................................................................................5Timeline.......................................................................................................................................7REFERENCES................................................................................................................................8
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Topic:To evaluate Islamic Mortgage system act as a solution for credit crises witnessed byglobal economy in recent past: An evidence of highly immunity exercised by UAE duringcredit crunch at global level.Background of the studyIn the former times, Muslims laid emphasis on borrowing money from the familymembers whenever they take decision in relation to investing money in the property. The mainreasons behind this, Muslims avoid dealing with the aspect of interest to a great extent. However,in the recent times, high level of growth is seen in the Islamic finance industry over the pastyears. It has been assessed that Islamic finance industry is growing with the annual rate of 10-12% annually. Further, it has been assessed that Islamic banking assets are growing with theincreasing rate as compared to conventional one (Tieman and Che Ghazali, 2013). High level ofsurge of interest has been assessed in Islamic finance from non-Muslim countries namely UK,Hong Kong, South Africa. Over the past years, Islamic finance has been assessed as the most effectual tool formonetary development specifically in non-Muslim countries. Islamic financial system is highlysignificant and gives potential for addressing the challenges in relation to poverty. This systemhelps concerned nation in boosting the shared prosperity to the significant level. Islamic financeis the equity based, asset backed, ethical, sustainable and socially responsible means ofperforming monetary transactions. In 2008, condition of financial crisis has placed significantimpact on the aspects of each and every sector. Under such condition, Islamic mortgage systemhas strengthened the financial stability to a great extent. In this, proposal will provide deeperinsight about the manner in which Islamic Finance system helped in dealing with the conditionof global crisis. Research aims and objectives Aim of the present study is to evaluate the extent to which Islamic mortgage system iseffectual for dealing with the situation of monetary crisis. Referring such aim followingobjectives has been drafted by researcher such as:To develop understanding about Islamic mortgage system.
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To assess the extent to Islamic Mortgage system offers solution at the time of globalcrisis. To investigate the manner in which UAE has made use of Islamic mortgage systemwhen credit crunch occurs. To recommend the ways in which Islamic mortgage system can be used in an effectualway. Research questionIn accordance with the research objective, following questions will be considered by theresearcher to conduct study in the best possible way:Q.1 What is Islamic mortgage system and its significance? Q.2 Do evaluate Islamic Mortgage system act as a solution for credit crises witnessed by globaleconomy in recent past?Rationale of the studyResearch project is based on issues involved in Islamic mortgage finance system, likemany of Muslims residing in UAE are not benefited of system. They are taking advantages ofsuch low interest given by banks based on Islamic financial system. Islamic system of finance ismore stable than other banks because they do not prefer borrowing form banks rather they takeuse deposits as source of finance. This could be due to unawareness among individuals regardingsuch facilities by these banks, or may be lesser promotion of banks in public.At present still people are not taking much advantages from Islamic financial systembased banking institutions. However, this could be a reason that people are still unaware ofexistence of these banks or facilities offered by them. This research is conducted to analyze thefactors that are reason for not availing the facilities of these banks by Muslim individuals inUAE. Since people are not recovered fully from crisis happened globally in 2008, might be theyare not sound financially to invest or borrow. Research would help in identifying reasons andmake recommendations to those people who are unaware of Islamic Mortgage Financial Systemand take advantage out of it.
Understanding About Islamic Mortgage System_4

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