| 词条 | University Islamic Financial |
| 释义 |
| name = UIF Corporation | logo = UIF Updated-01.png | type = Wholly Owned Subsidiary of University Bancorp, Inc. | industry = Mortgage, Real Estate | foundation = 2007 | key_people = Stephen Lange Ranzini (CEO) | products = Murabaha and Ijara | homepage = http://www.myuif.com/ }}UIF Corporation (UIF) is an American financial service company headquartered in Southfield, Michigan. It provides residential and commercial financing based on Islamic banking and finance principles for the Muslim community. UIF, is the first Islamic banking subsidiary run entirely on Shariah principles and offers faith based commercial real-estate financing and home financing through their Murabaha and Ijara programs.[1] Products offeredUIF currently offers faith based financing in the following states California, Colorado, Connecticut, Florida, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Washington.[2][3] • Murabaha financing is also known as an “installment sale” contract. In this case, UIF will act as an agent for University Bank and purchase the property you identify. UIF will then sell the property back to you at an agreed-upon, marked-up price. Down payments for our Murabaha contracts may be as low as 5% in certain states. Your down payment toward the purchase price represents your initial investment in the property. Your monthly payment is divided into two portions — acquisition and profit. As you make your monthly payments, the acquisition balance is reduced, thereby increasing your investment in the home. • Ijara financing is a redeemable lease contract based on the Islamic principle of Ijara wa Iqtina, (lease to own). The process is simple: You identify a property and an independent Trust acquires it on your behalf and leases it back to you. You make monthly payments to the Trust composed of a rent portion and an acquisition payment. At the end of the contract term, the Trust transfers the house ownership to your name. You now own the property free and clear. The minimum down payment for Ijara contracts is typically 30%. Your payment on-account represents your beneficial rights in the property. Your monthly payments include rent and further payments on-account, thereby increasing your beneficial rights. You can acquire full title to the property when the sum of your payments on-account equals the original purchase price. The original purchase price is the goal toward which you are always working; we do not adjust it over the life of the lease. This eliminates gharar (doubtful practices), or any uncertainty when it comes to your financial arrangement. Shariah ComplianceUIF offers products in the real estate and financial business by utilizing the best practices in the field of Shariah compliance. The initial fatawa for UIF's products were produced by Sheikh Yusuf DeLorenzo and Sheikh Nizam Yaquby through Shape Financial Corp. These products been subsequently reviewed by other scholars including Dr. Muhamed Shleibak and Sheikh Muhamed Becic. UIF has a consultative and audit relationship with Shape Financial Corporation and Islamic ethics which maintains an active team of Shariah scholars and auditors providing ongoing guidance and support. UIF also has a relationship with the U.S. based advisory group Straightway Ethical Advisory, LLC[4] which serves as a local Shariah Board to assist with product review/development and periodic audits. The members of the Board are Sheikh Taha Abdul-Basser, Sheikh Ashraf Gomma Ali, Mufti Abdullah Nana and Sheikh Faraz Rabbani. Both groups include experts in Islamic financial ethics, and particularly the standards adopted by the Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI).[5] References1. ^http://myuif.com/about-us/ 2. ^http://myuif.com/financing/shariah-compliant-home-financing/ 3. ^http://myuif.com/about-us/license-registration/ 4. ^{{cite web|title=Straightway Ethical Advisory|url=http://www.straightwayethical.com|website=Straightway Ethical Advisory|accessdate=30 August 2016}} 5. ^http://myuif.com/fatawa/ External links
4 : Financial services companies of the United States|Companies based in Southfield, Michigan|Companies based in Ann Arbor, Michigan|Islamic banks |
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