Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Uptake on Sharia mortgages and products limited according to new research directed by University of Kent

21.07.2008
New research from the Social Contexts and Responses to Risk Programme (SCARR), directed by the University of Kent, has revealed that there has been a limited uptake on Sharia compliant mortgages and financial products in the UK.

The study, which was funded by the Economic and Social Research Council through a grant to the University of Kent, has also revealed that Muslims generally opt for conventional mortgage products, choosing to work to pay off their mortgage more quickly than the standard term in order to avoid the payment of too much interest (in Sharia law, the payment or receipt of interest on loans is forbidden).

The reasons for this include difficulties in accessing Sharia-compliant products, problems in negotiating with vendor’s solicitors, higher initial costs and issues to do with building up equity in the course of a mortgage.

However, the research has found strong evidence for a greater role for Sharia-compliant financial products, such as mortgages, and the option for using Sharia law to resolve financial disputes.

Peter Taylor-Gooby, Professor of Social Policy at the School of Social Policy, Sociology and Social Research, University of Kent and Director of SCARR, said: ‘There has been much debate about how the institutions of Sharia are compatible with UK traditions. This work shows that many Muslims are flexible between Sharia and interest-based mortgages and that there is a ready market for Sharia products alongside the established products.’

The research, which is part of a broader project investigating how religious values influence attitudes to financial risk, was carried out by Deborah Quilgars and Anwen Jones at the Centre for Housing Policy, University of York, and David Abbott at the Norah Fry Research Centre, University of Bristol.

The study is part of an Economic and Social Research Council Priority Network on Risk in Social Contexts directed by Professor Peter Taylor-Gooby at the University of Kent.

Further details of the research are available at: www.kent.ac.uk/scarr/publications/QuilgarsJonesAbbottWP22.pdf

Karen Baxter | alfa
Further information:
http://www.kent.ac.uk/news

More articles from Social Sciences:

nachricht Amazingly flexible: Learning to read in your thirties profoundly transforms the brain
26.05.2017 | Max-Planck-Institut für Kognitions- und Neurowissenschaften

nachricht Fixating on faces
26.01.2017 | California Institute of Technology

All articles from Social Sciences >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Can the immune system be boosted against Staphylococcus aureus by delivery of messenger RNA?

Staphylococcus aureus is a feared pathogen (MRSA, multi-resistant S. aureus) due to frequent resistances against many antibiotics, especially in hospital infections. Researchers at the Paul-Ehrlich-Institut have identified immunological processes that prevent a successful immune response directed against the pathogenic agent. The delivery of bacterial proteins with RNA adjuvant or messenger RNA (mRNA) into immune cells allows the re-direction of the immune response towards an active defense against S. aureus. This could be of significant importance for the development of an effective vaccine. PLOS Pathogens has published these research results online on 25 May 2017.

Staphylococcus aureus (S. aureus) is a bacterium that colonizes by far more than half of the skin and the mucosa of adults, usually without causing infections....

Im Focus: A quantum walk of photons

Physicists from the University of Würzburg are capable of generating identical looking single light particles at the push of a button. Two new studies now demonstrate the potential this method holds.

The quantum computer has fuelled the imagination of scientists for decades: It is based on fundamentally different phenomena than a conventional computer....

Im Focus: Turmoil in sluggish electrons’ existence

An international team of physicists has monitored the scattering behaviour of electrons in a non-conducting material in real-time. Their insights could be beneficial for radiotherapy.

We can refer to electrons in non-conducting materials as ‘sluggish’. Typically, they remain fixed in a location, deep inside an atomic composite. It is hence...

Im Focus: Wafer-thin Magnetic Materials Developed for Future Quantum Technologies

Two-dimensional magnetic structures are regarded as a promising material for new types of data storage, since the magnetic properties of individual molecular building blocks can be investigated and modified. For the first time, researchers have now produced a wafer-thin ferrimagnet, in which molecules with different magnetic centers arrange themselves on a gold surface to form a checkerboard pattern. Scientists at the Swiss Nanoscience Institute at the University of Basel and the Paul Scherrer Institute published their findings in the journal Nature Communications.

Ferrimagnets are composed of two centers which are magnetized at different strengths and point in opposing directions. Two-dimensional, quasi-flat ferrimagnets...

Im Focus: World's thinnest hologram paves path to new 3-D world

Nano-hologram paves way for integration of 3-D holography into everyday electronics

An Australian-Chinese research team has created the world's thinnest hologram, paving the way towards the integration of 3D holography into everyday...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Marine Conservation: IASS Contributes to UN Ocean Conference in New York on 5-9 June

24.05.2017 | Event News

AWK Aachen Machine Tool Colloquium 2017: Internet of Production for Agile Enterprises

23.05.2017 | Event News

Dortmund MST Conference presents Individualized Healthcare Solutions with micro and nanotechnology

22.05.2017 | Event News

 
Latest News

How herpesviruses win the footrace against the immune system

26.05.2017 | Life Sciences

Water forms 'spine of hydration' around DNA, group finds

26.05.2017 | Life Sciences

First Juno science results supported by University of Leicester's Jupiter 'forecast'

26.05.2017 | Physics and Astronomy

VideoLinks
B2B-VideoLinks
More VideoLinks >>>