Financial cooperatives based on waqf for affordable housing in Karachi
The issue of affordable housing in Karachi has been a concern as two third of Karachi population is considered poor. These low incomes earning people of Karachi have been striving hard for shelter for a long time but unable to do so because of their low disposable income. They have been caught in a...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Published: |
Human Resource Management Academic Research Society
2019
|
| Subjects: |
| _version_ | 1796864881761189888 |
|---|---|
| author | Khan, Muhammad Kashif Abd. Rasid, Siti Zaleha Bardai, Barjoyai Batool, Fatima |
| author_facet | Khan, Muhammad Kashif Abd. Rasid, Siti Zaleha Bardai, Barjoyai Batool, Fatima |
| author_sort | Khan, Muhammad Kashif |
| collection | ePrints |
| description | The issue of affordable housing in Karachi has been a concern as two third of Karachi population is considered poor. These low incomes earning people of Karachi have been striving hard for shelter for a long time but unable to do so because of their low disposable income. They have been caught in a dilemma between spending on high rentals or on other necessities such as education, nutrition etc. since many decades. As a result, they are forced to live in illegal settlements or slums where they are compelled to compromise on their social/ethical values and better upbringing of their children. It is estimated that around eighty thousand homes are required each year in Karachi and because of constantly increasing fiscal and budgetary deficits, Pakistan government is unable to cater to this demand. The purpose of this study is to offer a solution to fill up this wide gap between demand and supply situation of housing units in Karachi through creating a synergy between housing cooperative and waqf. Moreover, this paper attempts to identify two innovative waqf based financing tools to overcome the problem of lack of initial funding for the development of housing cooperatives. |
| first_indexed | 2024-03-05T20:48:33Z |
| format | Article |
| id | utm.eprints-89698 |
| institution | Universiti Teknologi Malaysia - ePrints |
| last_indexed | 2024-03-05T20:48:33Z |
| publishDate | 2019 |
| publisher | Human Resource Management Academic Research Society |
| record_format | dspace |
| spelling | utm.eprints-896982021-02-22T06:00:39Z http://eprints.utm.my/89698/ Financial cooperatives based on waqf for affordable housing in Karachi Khan, Muhammad Kashif Abd. Rasid, Siti Zaleha Bardai, Barjoyai Batool, Fatima HB Economic Theory The issue of affordable housing in Karachi has been a concern as two third of Karachi population is considered poor. These low incomes earning people of Karachi have been striving hard for shelter for a long time but unable to do so because of their low disposable income. They have been caught in a dilemma between spending on high rentals or on other necessities such as education, nutrition etc. since many decades. As a result, they are forced to live in illegal settlements or slums where they are compelled to compromise on their social/ethical values and better upbringing of their children. It is estimated that around eighty thousand homes are required each year in Karachi and because of constantly increasing fiscal and budgetary deficits, Pakistan government is unable to cater to this demand. The purpose of this study is to offer a solution to fill up this wide gap between demand and supply situation of housing units in Karachi through creating a synergy between housing cooperative and waqf. Moreover, this paper attempts to identify two innovative waqf based financing tools to overcome the problem of lack of initial funding for the development of housing cooperatives. Human Resource Management Academic Research Society 2019 Article PeerReviewed Khan, Muhammad Kashif and Abd. Rasid, Siti Zaleha and Bardai, Barjoyai and Batool, Fatima (2019) Financial cooperatives based on waqf for affordable housing in Karachi. International Journal of Academic Research in Business and Social Sciences, 9 (8). pp. 134-143. ISSN 2222-6990 http://dx.doi.org/10.6007/IJARBSS/v9-i8/6223 |
| spellingShingle | HB Economic Theory Khan, Muhammad Kashif Abd. Rasid, Siti Zaleha Bardai, Barjoyai Batool, Fatima Financial cooperatives based on waqf for affordable housing in Karachi |
| title | Financial cooperatives based on waqf for affordable housing in Karachi |
| title_full | Financial cooperatives based on waqf for affordable housing in Karachi |
| title_fullStr | Financial cooperatives based on waqf for affordable housing in Karachi |
| title_full_unstemmed | Financial cooperatives based on waqf for affordable housing in Karachi |
| title_short | Financial cooperatives based on waqf for affordable housing in Karachi |
| title_sort | financial cooperatives based on waqf for affordable housing in karachi |
| topic | HB Economic Theory |
| work_keys_str_mv | AT khanmuhammadkashif financialcooperativesbasedonwaqfforaffordablehousinginkarachi AT abdrasidsitizaleha financialcooperativesbasedonwaqfforaffordablehousinginkarachi AT bardaibarjoyai financialcooperativesbasedonwaqfforaffordablehousinginkarachi AT batoolfatima financialcooperativesbasedonwaqfforaffordablehousinginkarachi |