• Project Title: Practical Uses of Islamic Finance

  • BASIS Advisor: Mr. Glanzer

  • Internship Location: Howard University School of Social Work

  • Onsite Mentor: Dr. Altaf Husain

Housing insecurity is a huge problem in our society. Systematic racism and oppression, income inequality, and law courts that favor landlords are just a few of the problems that lead to the continued exploitation of low-income renters. This leads to a whole host of untoward sociological issues with long-ranging negative consequences for society. In this study, I review the historical causes of housing insecurity, explain the current problems that ensue, and propose a novel combination of solutions rooted in Islamic Finance that can serve as a potential mechanism to structure mutually beneficial situations for investors, real estate firms, and current low-income tenants. What makes this proposal one to be considered is the captive and growing pool of Islamic fixed-income investors looking for a way to deploy their investment capital in a manner consistent with their moral beliefs and the contractual stipulations of Islamic based contracts that mandate mutuality and thus provide the purchaser risk protection and sharing with the financial institution. I will present these models as potential considerations for further study and analysis.