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