SHARIAH COMPLIANT MORTGAGE PRODUCTS AND FINANCIAL INCLUSION IN NIGERIA: A CASE STUDY OF ISLAMIC BANKS
DOI:
https://doi.org/10.64757/alqanatir.2026.3504/1299Keywords:
Financial, Inclusion, Mortgage, Products, NigeriaAbstract
This research analyses the participation of Shariah-compliant mortgage products in enhancing financial inclusion in Nigeria within the context of four full-fledged Islamic banks; Jaiz Bank Plc, TAJBank Ltd, Lotus Bank Ltd and The Alternative Bank. Data were collected from 15 management staff member across all key departments related to mortgage via semi-structured interview and analysed using NVivo thematic techniques. The results showed that Shari’ah compliance (53.33%) and transparency (46.67%) are the most influential variables on financial inclusion, which enhances trust among the unbanked people by prohibiting riba and enabling fairness and risk-sharing. Other drivers consist of affordable housing initiatives, no hidden fees, variety of products, and partnerships with state governments. These features have allowed Islamic banks to penetrate the unbanked population and complemented Nigeria’s alarming housing deficit. The research concludes that Islamic mortgage products represent an ethical, asset-backed, and inclusionary alternative to conventional finance with the ability to drastically decrease financial exclusion. Expand targeted rural outreach, flexible repayment structures, digital service expansion and hybrid contract models to strengthen accessibility and sustainability.
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Copyright (c) 2026 Sani Danjuma Ahmed, Professor Salina Kassim, Assoc. Prof Dr. Ashurov Sharofiddin, Muktar Ahmad
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