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Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing

This concept paper provides a practical, policy solution to deliver affordable public housing. By evaluating price-to-income ratios, it analyzes to what extent housing has become seriously unaffordable in Malaysia. We discuss how the federal government, state governments, state Islamic religious cou...

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Main Authors: Abdullah, Adam, Meera, Ahamed Kameel Mydin
Format: Article
Language:English
English
Published: IIUM Press 2018
Subjects:
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/67298/1/67298-Adopting%20al-Hikr%20long%20term%20lease%20financing.pdf
http://irep.iium.edu.my/67298/7/67298_Adopting%20al-Hikr%20long%20term%20lease%20financing%20for%20Waqf%20and%20state%20lands_SCOPUS.pdf
http://irep.iium.edu.my/67298/
http://journals.iium.edu.my/shajarah/index.php/shaj/issue/view/51
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spelling my.iium.irep.672982019-10-30T02:20:43Z http://irep.iium.edu.my/67298/ Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing Abdullah, Adam Meera, Ahamed Kameel Mydin HG3368 Islamic Banking and Finance This concept paper provides a practical, policy solution to deliver affordable public housing. By evaluating price-to-income ratios, it analyzes to what extent housing has become seriously unaffordable in Malaysia. We discuss how the federal government, state governments, state Islamic religious councils (SIRCs) as well as pension and investment institutions can participate, by examining affordable public housing based on an Ottoman long-term lease structure (al-Hikr) and subsequently adopted in the development of waqf land in Singapore and Malaysia. In Singapore, the Housing Development Board adopted the 99-year leasehold (al-Hikr) concept and now houses over 80% of its citizens into low-cost state-built housing. Accordingly, this study adopts case study, library research, documentary analysis and descriptive statistics relating to housing affordability and construction costs, to provide an Islamic social finance solution by adopting al-Hikr for waqf and state lands in Malaysia, to deliver affordable public housing to the bottom 40% (B40) of households by median income. IIUM Press 2018-12 Article PeerReviewed application/pdf en http://irep.iium.edu.my/67298/1/67298-Adopting%20al-Hikr%20long%20term%20lease%20financing.pdf application/pdf en http://irep.iium.edu.my/67298/7/67298_Adopting%20al-Hikr%20long%20term%20lease%20financing%20for%20Waqf%20and%20state%20lands_SCOPUS.pdf Abdullah, Adam and Meera, Ahamed Kameel Mydin (2018) Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing. Al-Shajarah, Special Issue, Islamic Banking & Finance, (2018). pp. 1-42. ISSN 1394-6870 http://journals.iium.edu.my/shajarah/index.php/shaj/issue/view/51
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic HG3368 Islamic Banking and Finance
spellingShingle HG3368 Islamic Banking and Finance
Abdullah, Adam
Meera, Ahamed Kameel Mydin
Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing
description This concept paper provides a practical, policy solution to deliver affordable public housing. By evaluating price-to-income ratios, it analyzes to what extent housing has become seriously unaffordable in Malaysia. We discuss how the federal government, state governments, state Islamic religious councils (SIRCs) as well as pension and investment institutions can participate, by examining affordable public housing based on an Ottoman long-term lease structure (al-Hikr) and subsequently adopted in the development of waqf land in Singapore and Malaysia. In Singapore, the Housing Development Board adopted the 99-year leasehold (al-Hikr) concept and now houses over 80% of its citizens into low-cost state-built housing. Accordingly, this study adopts case study, library research, documentary analysis and descriptive statistics relating to housing affordability and construction costs, to provide an Islamic social finance solution by adopting al-Hikr for waqf and state lands in Malaysia, to deliver affordable public housing to the bottom 40% (B40) of households by median income.
format Article
author Abdullah, Adam
Meera, Ahamed Kameel Mydin
author_facet Abdullah, Adam
Meera, Ahamed Kameel Mydin
author_sort Abdullah, Adam
title Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing
title_short Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing
title_full Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing
title_fullStr Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing
title_full_unstemmed Adopting al-Hikr long term lease financing for Waqf and state lands in Malaysia to provide affordable public housing
title_sort adopting al-hikr long term lease financing for waqf and state lands in malaysia to provide affordable public housing
publisher IIUM Press
publishDate 2018
url http://irep.iium.edu.my/67298/1/67298-Adopting%20al-Hikr%20long%20term%20lease%20financing.pdf
http://irep.iium.edu.my/67298/7/67298_Adopting%20al-Hikr%20long%20term%20lease%20financing%20for%20Waqf%20and%20state%20lands_SCOPUS.pdf
http://irep.iium.edu.my/67298/
http://journals.iium.edu.my/shajarah/index.php/shaj/issue/view/51
_version_ 1651865892996251648
score 13.211869

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