Financial Inc -

Sharia-compliant mortgage lender in receivership

Euro-Islam12 years ago01 mins

The Toronto Star – October 18, 2011 UM Financial Inc., a Toronto-based firm that offered sharia-compliant mortgages to Muslims, has gone into receivership leaving more than 173 people fearful they may lose their homes. UM Financial was one of the first companies in Canada to offer so-called Islamic financing to Muslims who believe that sharia,…

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First Sharia-Compliant Exchange-Traded Fund Available Soon in Canada

Euro-Islam15 years ago15 years ago01 mins

Islamic financial services company UM Financial Inc. and Jovian Capital Corp. hope to list Canada´s first sharia-compliant exchange-traded fund (EFT) in the next week. In compliance with Islamic law, the index avoids firms involved in financial services alcohol, gambling and pork products. It would target Canada´s growing Muslim population (approximately one million) as well as…

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