Sukuk in Canada
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NIDAL ALSAYYED
Mar 12, 2012, 12:49:48 PM3/12/12
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----- Forwarded Message -----
From: Omar Kalair
From: Omar Kalair
A recent Bloomberg reported on the Sukuk developments in Canada: http://www.bloomberg.com/news/2010-10-18/sukuk-entice-canada-issuing-2-billion-to-spread-funding-islamic-finance.html Wallstreet Journal article about our iFreedomplus Mastercard http://www.umgroup.ca/uploaded_pic/gallery/wallstreetjournalumfinancial27384.pdf UM Financial Islamic Mortgages in Canada – Media articles http://www.umgroup.ca/uploaded_pic/gallery/UM_other_portfolio278186.pdf Omar Kalair, President and CEO UM Financial Group www.UMGroup.ca oka...@umgroup.ca 416 424 4100 x114 UM Financial Group (Canada) UM Financial is Canada's premier Islamic Financial Institution. In 2004, UM secured a $120 million Shariah compliant investment facility from a regulated Canadian Financial institution for the purpose of financing residential properties. In addition UM has developed investment and deposit products with financial institutions in Canada and currently operates an investment fund along with a real estate brokerage. In 2009, UM signed agreements with two public Canadian companies to launch an Islamic ETF and an Interest-free Master Card targeting Canada's 1 million-strong Muslim population. UM is in the process of submitting an application for a Canadian bank license and is also in discussions to launch other products such as Canadian sovereign sukuks, corporate sukuks and Takaful insurance product. UM has appeared as the only Canadian entry in the list of the Banker magazine Top 500 Islamic Financial Institutions and has been profiled on the front page of the business sections of the three leading newspaper in Canada (Globe and Mail, National Post and Toronto Star). UM is representative on two of the largest Islamic Finance associations: IFSB based in Malaysia and AAOIFI based in Bahrain. UM Financial was awarded by the World Finance - Islamic Finance Business Leadership Award North America 2009 and awarded Entrepreneur of the Year 2009 by the Canadian Islamic Chamber of Commerce. Facts about Toronto: > Population of 5.4 million, making it the fifth largest city in North America > Best educated workforce in the G7 > Home of the TSX, the third largest stock exchange in North America & seventh largest in the world ($1.5 trillion market capitalization) > 160 million customers & suppliers are within one-day’s drive Facts about Canada: > Population of over 33 million ~ more than Saudi Arabia and UAE combined > Second largest country in the world > World’s second largest oil reserves > Canadian dollar is seventh most traded currency in the world > Ninth largest economy globally > Islam is fastest-growing religion with 1 million adherents > Diverse, multicultural population |
AlHuda CIBE
Mar 13, 2012, 1:30:14 PM3/13/12
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Thanks Omar sb, looking forward to see you in Pakistan.
Best Regards
Muhammad Zubair Mughal
Chief Executive Officer
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AlHuda Centre of Islamic Banking and Economics 192 Ahmed Block, New Garden Town, Lahore - Pakistan P: + 92 (0)42 - 35913096 - 8, F: + 92 (0)42 -35913056 E. zubair...@alhudacibe.com,W: www.alhudacibe.com
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Tarik bengarai
Mar 14, 2012, 4:08:18 AM3/14/12
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