Islamic House Financing Facilities
What is it?
Purchase of eligible portfolio of Islamic house financing facilities (“IHFF”) granted for the purchase or financing of residential houses originated by the Islamic Financial Institutions, selected corporations and public sector.
- for financing or refinancing the purchase, construction or renovation of residential properties;
- has arisen in accordance with the approved Shariah principles of the originated selling institution;
- fully disbursed and amortised;
- not more than 1 month in arrears at the time of purchase;
- have a remaining life which expires on or after the Review Date;
- secured by a first charge or assignment of rights over the secured property; and
- comply with other criteria as per Cagamas' requirements