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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Canada: Shariah banking goes bankrupt

Posted on 18 October 2011

The leading promoter of Sharia banking in Canada, UM Financial Inc. has gone into receivership without much fanfare. None of the nation’s newspapers have bothered to report the development, despite the fact it could possibly affect hundreds of homeowners.
Had it not been for a tweet by an affected Muslim homeowner looking for a lawyer, the story of UM Financial going broke would have escaped even the scant attention the news received on social media……………………………………….Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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