Berdaliyeva Muhabbatkhon,
Teacher, International Islamic Academy of Uzbekistan
“Islamic Economics and Finance” Department
Tashkent, Uzbekistan. Email: ielts8owner@mail.ru
ORCID: 0009-0001-7788-5690
Abstract. In this article, the development trends of the world real estate market, as well as the specific characteristics of the demand for housing in our country, were considered. The results of the analysis were analyzed and the potential demand for Islamic mortgage practice and the Islamic financial contracts that could be offered to meet this demand were presented. The need for a mortgage loan, specific aspects of Islamic mortgages offered by Islamic financial institutions were studied. Also, the Islamic financial instruments used in housing construction financing in different countries and their advantages were analyzed, with a particular focus on the working mechanisms of diminishing musharakah, murabahah, mudarabah and lease-to-own contracts, among the Islamic financial instruments.
Keywords: a mortgage loan, housing finance, Islamic finance, Islamic banking, Islamic mortgage, diminishing musharakah, murabaha, ijarah