Islamic Mortgages and Islamic Finance

Toronto - UM Financial has supported Canadian Mortgage and Housing Corporation (CMHC) $65,000 study on Islamic Mortgages and other faith mortgages. Islamically acceptable financing/mortgage is a product/commodity does not come at the expense of others products nor does it compel any Canadian to purchase. UM is a premier Canadian Islamic finance corporation. The company secured a $120 million facility from Credit Union Central of Ontario in 2004, which is used to finance Shariah compliant real estate residential properties in Canada.