Spring 2009, Vol. 34, No. 1

Abstract: Over the past several years, the United States has experienced substantial growth in a subsection of international finance sometimes called “Islamic Finance.” Currently, there are three commonly used structures of Islamic financing available to replace the traditional or conventional mortgage structure in the U.S. But because so few foreclosure proceedings based on these Islamic financings have taken place in the U.S., there are questions as to how a court would handle such a proceeding. This article provides an understanding of the separate Islamic financing structures and relevant case law to help analyze how a court might handle this novel issue.