Islamic Financial Engineering and Its Role in Financing the Real State Sector

Abstract

This study aims to conduct an interview between the most important Islamic and traditional financial engineering products in financing the real estate sector, by choosing the mortgage-backed securities system representing the traditional economy and Islamic bonds representing the Islamic economy, and the study also aims to highlight the most important financing sukuk products for the real estate sector. Derived from previously known contracts using reverse engineering, and we can call them named sukuk and some of them were newly invented, such as housing certificates adopted by Turkey, and it was the first to issue sukuk in that form according to Sharia controls, which reflects the spirit of Islamic financial engineering. It was concluded that the most important characteristic of Islamic financial engineering products is strategic planning related to reality, whether in the field of their innovation and development or in the field of their use, such as the Turkish experience in housing certificates that started from a realistic problem "housing crisis", and the researcher recommends the need to experiment with Islamic products, especially in Algeria as it is, The case with traditional product experiences.