The History Behind Ijara & Riba Free Financing Options
Ijara is currently marketing the CIHF process which has been approved by notable scholars. The Managing Partner of CIHF is Samad Group Inc., and the owner of the process is Samad-Ijara Home Finance LLC. Samad Group Inc. was the first Muslim organization in the US to have obtained such a Sharia Compliant contract. The process utilizes the Ijara methodology, which is one of the three Shariah compliant methods to achieve home financing. Specific questions can be answered by contacting us directly.
The original documents, which bear Mufti Muneer Akhoon’s signature, are available for comparison with the documents currently being used. We would also like to take this opportunity to thank Mufti Taqi Usmani and Dahrul Ihsan Center for taking an active stance against those companies in the US and Canada that are misusing our Fatwa in the promotion of their Islamic Financing products.
We are currently in the process of updating / adding new members to our Sharia Board. Currently Sheikh Mufti Mohammed-UmerEsmail, a former student of Justice Taqi Usmani, and Imam Yahya Abdullah are our Sharia Advisors, and Mufti Muneer Akhoon is the chairman of our Sharia Advisory Board. You may view the updated Fatwa here.
Their are many well-known scholars in the area of Islamic Finance, and many were involved in the creation and development of the Sharia Compliant Contract. The history of our process is as follows:
Informational Notice: The Shariah contract “Lease to Purchase” is owned and copyrighted by Samad-Ijara Home Finance, LLC (formally CIHF Partners) and the Conversion Product by Ijara Marketing, LLC., which is also the master licensee for the US and Canada of the CIHF product and owner of SAMAD-IJARA Home Finance, LLC. Ijara Marketing, LLC may license the program to other financial organizations that might be interested in meeting the needs of the Muslim market in North America.