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Article: Mortgages for the Middle East: much work needs to be done before a vibrant and fully functioning home mortgage market can take root in most Middle Eastern countries. Egypt and Turkey are taking steps in this direction.(Cover Report: Secondary Market)
- Article from:
- Mortgage Banking
- Article date:
- May 1, 2006
- Author:
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Copyright informationCOPYRIGHT 2006 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The introduction of the residential mortgage concept to Middle Eastern countries has been hampered by those followers of Islam who adhere to the strict Shariah law, which forbids the giving or receiving of interest. [??] However, growing populations and an expanding middle class have fostered the need to give more people access to homeownership. As a result, advances in modern banking and mortgage issuance have spread from the Mediterranean Sea to the countries along the Persian Gulf. [??] In addition, a number of "Islamic mortgages" have been unveiled, most of which are based on some form of a lease-to-own concept in which the bank enters into a promise-to-purchase agreement ...
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Article: QATAR: DOHA BANK TO OPEN A BRANCH IN KUWAIT.
IPR Strategic Business Information Database;
June 18, 2008 ;
100 words
......Securities Market (DSM) has contacted Doha Bank seeking clarification on the most recent...local and Kuwaiti newspapers about Doha Bank opening a branch in Kuwait. In response to DSM's request, Doha Bank announces that the bank has received...
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