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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Islamic mortgage lender’s woes leave clients in lurch

Posted on 21 October 2011

Nearly 200 Toronto-area Muslim homeowners face an uncertain future after the company holding their mortgages was ordered into receivership.

Since 2005, UM Financial has offered loans and mortgages to people who want to adhere strictly to Islamic law (Shariah), under which no interest can be charged on a loan……………………………………….Full Article: Source

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


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