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07.02.2017

GCC VAT a test for Islamic Finance- Fitch


30.01.2017

Goldmoney adds Shariah-compliant methods to boost investment from Islamic markets


31.03.2016

Path Solutions joins CIBAFI, the world renown General Council for Islamic Banks and Financial Institutions


28.03.2016

"Kazakhstan Islamic Finance 2016: a new frontier for Islamic finance" country report


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Azerbaijan looks to new Islamic bank as sector rules progress


15.01.2016

Linar Yakupov received an award for his contribution to the development of Islamic finance industry in Russia


14.12.2015

The 2nd International winter school of Islamic law and economics has started in Kazan


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Russian financial experts are exploring options to launch Islamic Banking


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Recent Comments

22.06.2016

Islamic banking will be most relevant to SME sector: Zafar Sareshwala

Interview with director and head of Islamic Corporation for Development's (ICD) India operations.

25.11.2015

Islamic Develop Bank calls for new Islamic microfinance structures

As the Shariah-compliant Islamic finance sector booms in the GCC region, the President of the Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali, asked experts in the field to develop new Islamic microfinance structures.

14.09.2015

Dubai Silicon Oasis Authority and Thomson Reuters Reveal Key Findings of Digital Islamic Economy Report 2015

Dubai Silicon Oasis Authority (DSOA) and Thomson Reuters, with support from the Dubai Islamic Economy Development Centre (DIEDC) released the 'Digital Islamic Economy Report' for 2015, in collaboration with DinarStandard.

Understanding the sensitivities of Islamic mortgages

22.09.2010

Islamic mortgages may be regarded as a niche market but they offer opportunities for brokers who work close to large Muslim populations, especially to those who understand the products and the sector.
Understanding the sensitivities of Islamic mortgages
Islamic mortgages may be regarded as a niche market but they offer opportunities for brokers who work close to large Muslim populations, especially to those who understand the products and the sector.

As with all areas of lending finance for Islamic mortgages suffered in line with the market downturn. A lack of confidence, funding and a reassessment of risk with lower LTV criteria have all contributed to consolidation in what was a growing area of mortgage broking and lending.

One lender increasing its presence in this sector is HSBC but it could hardly be described as the intermediary’s friend.

This leaves only one committed intermediary lender in this sector - Islamic Bank of Britain - which has the benefit of investment from its founding shareholder Qatar International Islamic Bank.
IBB was established in 2004 and is a Sharia-compliant retail bank. This latest investment will enable IBB to move forward and secure its position as the brokers’ friend.

New products and enhanced criteria including higher LTVs have been announced. But it’s important brokers understand the sensitivities associated with Islamic mortgages.

There are an estimated 2.4 million Muslims living in the UK, many of whom are working in a professional sector, and brokers must appreciate and learn what is behind the culture as well as the religious commitment.
IBB offers training to ensure a full understanding of the market and there are competitive proc fees for packaged or introduced cases.

The important thing to remember is that this sector is growing through difficult times.
Brokers will find this sector interesting and it will provide them with a loyal client base who will be keen to recommend knowledgeable and sensitive advisers to members of their community.

Source: www.mortgagestrategy.co.uk

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