PMRC would be issuing both the Shariah-Compliant securities as well as the Conventional interest-based securities it is not permissible for Islamic Banks under Shariah as well as per the guidelines of the State Bank of Pakistan to hold an equity stake in any such company. Hence ideally for the securitization of Islamic mortgage assets, there should be a completely separate entity that does not indulge in any Conventional interest-based transactions. The primary security; of securing the interest of both the Musharakah Partners in these cases will be the mortgage of the underlying property given by the customer in the initial origination transactions. This would secure both the rental payments as well as the principal amounts invested of both PMRC and Islamic Bank. Regarding the loss occurring due to the destruction of the asset; such possibilities would be well hedged since the assets of the HFP will include a large number of properties.