Muhammad Asghar Shahzad
Revision submitted in May has incorporated most of the comments. Two additional pieces of work are required.
1: A one page survey of fatwa with 68/80 in favor and 12 opposed is NOT what was asked for. Rather a DISCUSSION of the issues involved, WHY the transaction is considered un-Islamic and what could be done to improve things in this direction was required. Mr Atiquz-Zafar has recently completed a chapter of his thesis discussing Islamic Insurance which provides a clear pattern for you to follows.
2. There is a comprehensive book on Islamic House Financing published by IRTI/IDB. It discusses many issues of relevance to the thesis and should be cited and utilized in the discussion. Theses should be aware of and informed by the most recent literature.
After these two changes, the theses may be accepted.
REVISION SUBMITTED ON March 8th SUFFERS FROM EXACTLY THE SAME DEFECTS AS PREVIOUS VERSION -- IT IS AS IF YOU HAVE NOT READ THE COMMENT BELOW. There is a FORMAT, explained clearly, for HOW TO DO COMPARISON and CONTRASTS. IF you did not understand this format, then you should have asked. I am attaching the thesis (AsgharShehzad.doc uploaded April 9) with many more detailed comments.
Evaluation: 5 February 2012 -- The data has been gathered but the analysis is deficient. Minor errors are indicated in the document attached below. Major issue is that the comparison and contrast has not been done clearly. To learn how to do this, look at the following link, which provides a general structure:
HOW TO WRITE A COMPARISON AND CONTRAST ESSAY:
http://www.bookrags.com/articles/5.html
You need to have an additional chapter with this information. You need to pick out the dimensions -- size of monthly payment, penalty for lateness, insurance required or not, moratarium, conditions for early repayment, maximum size of loan, period of repayment allowable.
Then you need to pick a hypothetical case where the SAME amount is financed by different methods. Then you need to pick out what features are similar and same, and what features are different and in contrast.
Title:
PRACTICES OF ISLAMIC HOUSES FINANCING:
A CASE STUDY OF HOUSE BUILDING FINANCE
CORPORATION
Supervised by:
Professor Dr. TahirMansoori
Submitted by:
Muhammad Asghar Shahzad
Ms Islamic Banking & Finance
Registration No: 42-SE/MS-IBF2/F10
Muhammad Asghar Shahzad
M.Phil Islamic Banking & Finance (IIUI)
MSc Islamic Banking & Finance (IIUI)
International Islamic University, Islamabad
Pakistan.