University Islamic Financial Corp. offers Shariah compliant financing for professional offices, multi-family, retail and non-profits and is available in most states. To maintain Shariah compliance, there is no note or mortgage. We use the Ijara-Wa-Iqtina, “lease-to-own” method for purchase and replacement financing. If the property is sold before the transaction is settled, the client keeps all of the profit beyond the original agreed upon purchase price and there is no early lease termination penalty. The money for these transactions is provided by our Shariah depositors and the profit that is earned from UIFC commercial and residential transactions is paid to those depositors. The maximum transaction is $2.6 million and $1.0 million for non-profits. At this time we are not financing gas stations, hotels or restaurants. Islamic and Conventional Commercial Finance Differences
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