CONVENTIONAL AND ISLAMIC MORTGAGE FINANCING (A LEGAL COMPARISON)

ABSTRACTHome ownership has been a problem to many people in Nigeria. This is the more reason why efforts are being made from all quarters to alleviate this problem. The two most prominent of these efforts are the Home Financing Schemes, otherwise known as Mortgage Financing, which are made by the public corporations and private institution. The effort of the public corporations is known as Conventional Mortgage Financing while a part of the private institution is that of the Islamic Economic System known Islamic Mortgage Financing. The focus of this research study is to compare the legal frameworks of these two opposite mortgage financing schemes. This is to be able to balance the regulatory issues that generate from the acceptability of these schemes in other to avail the Muslims the understanding of opting for the scheme that best aligns with the demand of their faith, without necessarily transgressing the law of the land in any way, bearing in mind the nascent status of the Islamic option, which is yet to enjoy a focused/specific municipal legal attention.
TABLE OF CONTENTS PAGESCOVER PAGECERTIFICATION PAGEABSTRACTTABLE OF CONTENTSDEDICATIONACKNOWLEDGMENTTABLE OF CASESTABLE OF STATUTESINTERVIEWS AND PERSONAL COMMUNICATIONLIST OF ABREVIATIONS
CHAPTER 1GENERAL INTRODUCTION1.0.0 INTRODUCTION1.1.0 BACKGROUND OF THE STUDY1.2.0 OBJECTIVE OF THE STUDY1.3.0 FOCUS OF THE STUDY1.4.0 SCOPE OF THE STUDY1.5.0 METHODOLOGY1.6.0 LITERATURE REVIEW1.7.0 DEFINITION OF TERMS1.8.0 CONCLUSION
CHAPTER 2CONCEPTUAL FRAMEWORKS OF CONVENTIONAL AND ISLAMIC MORTGAGE FINANCING2.0.0 INTRODUCTION2.1.0 CONCEPT OF CONVENTIONAL MORTGAGE FINANCING2.1.1 MORTGAGE FINANCIAL INDUSTRY IN NIGERIA2.1.2 PUBLIC MORTGAGE FINANCIAL INSTITUTIONS 2.2.0: CONCEPT OF ISLAMIC MORTGAGE FINANCING2.2.1: ISLAMIC COOPERATIVE SOCIETY2.2.2: THE PRODUCTS OF ISLAMIC MORTGAGE FINANCING2.3.0: CONCLUSION CHAPTER 3EXAMINATION OF THE LEGAL FRAMEWORKS OF CONVENTIONAL AND ISLAMIC MORTGAGE FINANCING3.0.0: INTRODUCTION3.1.0: THE LEGAL FRAMEWORK UNDER THE NIGERIAN 1999CONSTITUTION3.1.1:  THE   LEGAL   FRAMEWORK   UNDER   THE   CBN   ACT, 2007 3.1.2:  THE   LEGAL   FRAMEWORK   UNDER   THE   FMBN   ACT,2004 3.2.0: MORTGAGE FINANCING UNDER THE SHARI’AH3.3.0: THE ISLAMIC MORTGAGE FINANCING UNDER THE NIGERIAN STATUTES3.3.1: THE  LEGAL  FRAMEWORK  UNDER  THE  NIGERIAN  1999 CONSTITUTION3.3.1: THE LEGAL FRAMEWORK UNDER THE CBN ACT,20043.3.2: THE LEGAL FRAMEWORK UNDER THE BOFIA, 20044.4.0: CONCLUSION

CHAPTER 4ANALYSIS OF THE LEGAL FRAMEWORKS4.0.0:  INTRODUCTION4.1.0: THE SIMILARITY BETWEEN THE LEGAL FRAMEWORKS OF CONVENTIONAL AND ISLAMIC MORTGAGE FINANCING SCHEMES4.1.1:  THE  CONTRAST  BETWEEN  THE  LEGAL  FRAMEWORKS  OF CONVENTIONAL  AND  ISLAMIC  MORTGAGE  FINANCING SCHEMES4.2.0: CONCLUSION
CHAPTER 5GENERAL CONCLUSION5.0.0: CONCLUSION5.1.0: RECOMMENDATION BIBLIOGRAPHYARTICLES IN JOURNALSARTICLES ON THE INTERNETBOOKSPAPERS PRESENTED AT CONFERENCE, WORKSHOPS AND SEMINARS