Equity investment in mortgages
On his blog, Mahmoud El-Gamal points out a Business Week article describing parents' investing in their children's mortgages. The product, in which the investor provides some financing, often towards the down payment in exchange for a share of the equity appreciation of the house at some point in the future resembles a musharaka partnership where the profits and losses (in this case, appreciation of the house value) are shared. It provides an example of where conventional financial products overlap with Islamic products (see, for example, the ISNA Canada's Ansar Co-operative Housing Corporation Ltd.).
Islamic microfinance conference in Brunei
The recent conference in Brunei on micro-, small- and medium-sized businesses and Islamic finance turned its focus to poverty alleviation and particularly the important contribution Islamic financial institutions can and need to play.
Other News
Sukuk is growing rapidly in the GCC.
Arcapita Bank celebrates its recent five-year $1.1 billion syndicated murabaha. [Press Release (pdf) from Arcapita]
The Islamic finance industry in the U.K. continues to expand. Today, the former Finance Director of the Islamic Bank of Britain joins the Nottingham Building Society in the same position to focus on the development of Islamic financial products at the Society.
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