The Possibilities of Community Redevelopment with Islamic Finance

dc.contributor.authorHummel, D.
dc.contributor.authorHashmi, Ayesha T.
dc.contributor.utdAuthorHashmi, Ayesha T.
dc.descriptionDue to copyright restrictions and/or publisher's policy full text access from Treasures at UT Dallas is not available. UTD affiliates may be able to acquire a copy through Interlibrary Loan by using the link to UTD ILL.
dc.description.abstractPurpose: The purpose of this paper is to explore the application of a profit and loss sharing approach to tax increment financing (TIF) districts in the USA. Design/methodology/approach: A survey based on this approach was distributed to representatives of community redevelopment authorities (CRAs) in the State of Florida to ascertain practitioner feedback. Findings: Although a majority of the respondents did not feel it was possible for political, economic and legal reasons, some did feel that it was a practical, reasonable and sustainable approach to financing projects for economic development. Some responses were correlated, with others indicating that certain beliefs framed their answers to the questions. Research limitations/implications: The surveys were only distributed to CRAs in the State of Florida. Future research will need to include other CRAs in other states to make the findings more generalizable. In addition, the results are merely descriptive and are not an assessment of a successful application. Practical implications: The need for more development in blighted areas of many cities across the USA will put emphasis on innovative approaches in financing this. The growth of Islamic finance in the USA and the regulatory framework for it might open a doorway for its application in this area. Originality/value: This is the first attempt to apply an Islamic financing methodology to local economic development in the USA, with practitioner feedback. ©2019, Emerald Publishing Limited.
dc.description.departmentNaveen Jindal School of Management
dc.identifier.bibliographicCitationHummel, D., and A. T. Hashmi. 2019. "The possibilities of community redevelopment with Islamic finance." Journal of Islamic Accounting and Business Research 10(2): 259-273, doi: 10.1108/JIABR-07-2016-0086
dc.publisherEmerald Group Publishing Ltd.
dc.rights©2019 Emerald Publishing Limited
dc.source.journalJournal of Islamic Accounting and Business Research
dc.subjectEconomic development
dc.subjectTax increment financing
dc.subjectUrban renewal
dc.titleThe Possibilities of Community Redevelopment with Islamic Finance


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