IslamicFinance.de

Dozens of Muslim homeowners are criticizing that they have been left in limbo by a disintegrating “sharia-compliant” mortgage arrangement, giving focus on the emergence of parallel banking systems in Canada.
After Toronto’s UM Financial was put into receivership this month by an Ontario Superior Court order, more than 170 Muslim homeowners are having a lot of questions about their properties and their debts.
Michael Creber, a partner at Grant Thorton, stated that the court order will not affect in any way the homeowners.