The International Islamic University Malaysia

Question:

erkan sayin wrote: Esselamu aleykum,
i am about purcsing a home, looking for Islamic mortgage. my credit scor is 781 and have approval. i am wondering if u do mortgage with stated income, beacuse i am self employeed.
thanks
erkan

Answer:

Erkan, this website does not represent a particular bank or organization and does not give any kind of financing, whether mortgages or anything else. This is an informational website.

Question:

hany fotouh wrote:
I have authored article entitled Corporate Governance and Islamic Finance. I would be grateful if you advise if the article could be of interest to you. If your reply is affirmative, I would be happy to send the article to you for publishing.

Answer:

Dear Hany,

Yes, I would be happy to consider it for publication on this website, but please make sure that it is properly proofread in English, with good grammar and punctuation.

Question:

ZEKI KOCHISARLI wrote:
I am looking for starting capital for to set up new commercial business, if anyone interested for help me any time can contact me.
I am from Brussel-BELGIUM.
Regards,
ZEKI KOCHISARLI
koch.ze@hotmail.com

Answer:

Okey dokey, Zeki. I published your request. Anyone who wants to do so can contact you.

Question:

MUHAMMAD TAYYAB TAHIR wrote:
Dear sir, assalam o alaikum, i m doing my job in Allied Bank Limited and now i want to take training about islamic banking please guide me as soon as posible.
0321-4534936
mttahir007@yahoo.com

Answer:

Dear Muhammad, have you informed your bank superiors that you wish to train in Islamic banking? They might be interested in having someone on staff with such expertise. Maybe they would be willing to pay for your training. I just posted an article on this website about the introduction of an Islamic banking degree program at the Salford University in Manchester. I believe that Malaysian educational institutions like the IIUM also have good programs in Islamic finance and banking.

Question:

Talait wrote:
Salam. I am living in Canada, and i would like to know what kind of interest-free loan i should get to buy a house. I need to know step by step action, as well as which banks i should go to that would give me an interest-free loan ASAP. Thank you.

Answer:

Salam, Talait. You could try one of these companies providing Islamic financing in Canada:

• UM Financial – http://www.umgroup.ca/
• IjaraCanada.com – http://www.ijaracanada.com/

I believe that ISNA (the Islamic Society of North America) also runs an Islamic housing cooperative in Toronto, Canada. You could try contacting them for more information.

Salford University in Greater Manchester is now offering degrees in Islamic finance

A university in the UK is going to be offering a degree in Islamic banking. British banks have experienced a surge in demand for Islamic financial products, mostly from local Muslim families but also from non-Muslim families who are attracted to the fair terms that these products offer.

In the comment section on the the Daily Mail Online‘s story, Paul Hart wrote:

“This is what Labour have always wanted ,a Muslim state. Congratulations Blair , Brown and all the other buffoons under Labour your wish is finally coming true to eradicate what little is left of the true British culture.”

And Tony M. responded:

“Cue mad ranting islamophobes claiming this will be the end of the world as we know it….”

I think Tony is more on the money here. It’s pretty ridiculous to see the introduction of a University degree as a takeover by the brown masses. If they were offering language degrees in Russian or Hindi (as they probably do) would that imply that peasants from the steppes, or Indians on elephants, would soon be banging down the gates?

Here’s the Daily Mail’s story:

University to launch degree in Islamic banking after demand for ‘ethical’ lending surges

The banking world has already grown used to accommodating the needs of Muslim savers… and now there’s a university degree to match.

A Muslim student at a cash machine

Salford University in Greater Manchester is launching a degree course in Islamic banking next year in which students will learn how to invest and lend according to the religion’s strict financial principles.

The postgraduate course is being introduced after a surge in demand from high street banks offering Islamic services to Muslim families.

Under Islamic rules, charging and paying interest is viewed as immoral and investments must be made according to strict ethical principles.

Islamic banks have opened in a number of British cities and major banks, including HSBC and Lloyds TSB, already offer Islamic products and services.

Although they cannot pay interest, Islamic banks must still offer competitive returns to customers and turn a profit.
Banks make money for investors by taking fees for matching investors and borrowers, buying into businesses, or buying and leasing assets to potential borrowers.

The MSc course – one of the first of its kind – will initially be open to 20 students next year. Lecturer Hussein Abdou said: ‘It’s predicted demand for Islamic services will treble in the next few years. ‘The course is not just for Muslim students. It is open to all people who want to have a unique position in the jobs market.’