Islamic finance products and services are now offered by major companies that are subsidiaries of the University Bank. The financial products offered by them allow the customers to remain true to their faith and belief. Their main goal is to serve the financial needs of the American Muslim community. You can even speak to one of their experienced bankers or even contact them online to learn more about Shariah compliant programs. With the help of profit sharing savings account, you can seek Shariah permissible yield on their products. You can even gain easy and regular access to your funds via the internet or phone banking, ATMs and even checks. The main purpose of these accounts is to fund and track profits on UIF's Shariah compliant portfolio of assets.

The reputed banks offer two types of Islamic home financing programs that you can use to buy a new home or refinance an existing one. Both programs are acceptable financing models from a Shariah perspective and are fully approved by the independent Shariah board. Their financing is also very competitive as compared to the conventional lenders. The products offered by the financial institutions are of top quality which ensures complete peace of mind. So, you need not pay more for home financing anywhere else. The Shariah compliant home financing products are available in states such as California, Illinois, New York, Connecticut, Washington etc. Murabaha financing is also known as installment sale contract in which a bank will buy the property that you identify. The property will then be sold back to you at an agreed upon price. Down payments for such financing modes are as low as 5%. At the closing of the deal, you will acquire full title to the property and make your initial down payment. The second Islamic home financing program is based on Ijara, a lease which is followed by an acquisition. The process begins when you select the property and an independent trust acquires it and rents it to you.

For more information on Islamic loan and the reputed banks that offer it, you can do a thorough and comprehensive research on the internet.

Islamic finance products and services are now offered by major companies that are subsidiaries of the University Bank. The financial products offered by them allow the customers to remain true to their faith and belief. Their main goal is to serve the financial needs of the American Muslim community. You can even speak to one of their experienced bankers or even contact them online to learn more about Shariah compliant programs.