Achieving a double crossover success

In the United States, minorities (particularly Muslims) are more likely to live in inadequate housing, and typically have the lowest rates of homeownership. Despite attempts at increasing minority homeownership levels, progress has been slow, and assistance programs are needed to promote greater community growth. The SAMAD group offers an ijara based mortgage where the customer enters into a 39-month lease that, if successful, will be extended into a 30-year mortgage with few fees for the consumer. The Islamic banking sector must demonstrate that non-Muslim consumers are also interested in their products in order to attain sustainable levels of growth. The success of Islamic banking and mortgage programs can be measured in terms of increased homeownership (particularly amongst minority and lower income groups), and how well the banks serve the needs of their respective communities. Research has shown that there are large enough Muslim and non-Muslim markets to support Islamic mor