Specialties

Ijara Community Development Corporation (IjaraCDC), a Michigan Non-Profit Corporation is a Sharia structuring company not a Lender or Broker. IjaraTM is an Islamic Financing Method that obeys all the Islamic Sharia Guidelines to provide finance to consumers, and is funded by traditional licensed lenders and brokers. We are constantly working towards simplifying the process of accessing and applying for Islamic finance. Our sole objective is to provide proper finance options to all those consumers who hold fast to ethical or religious prohibitions regarding interest paid on loans.

History

Established in 2005.

1995 - Dallah Al Baraka through Al-Amin Co issues the original Fatwa for the Sharia Contract. The Scholars involved in the creation and approval of the Sharia Contract where: Sh. Muhamad Taqi Usmani, Sh. Nizam Yaquby, Dr. Abdus Sattar Abu Ghudda, and Sh. Abdullah Al Mannae. 1997 - The Fatwa was updated for licensing to United Bank of Kuwait for their Al-Manzil program. The Scholars involved in the update of the Fatwa were Sh. Mufti Mohamad Taqi Usmani and Sh. Nizam Yaquby. 2001 - SAMAD American Holding Corp. (SAHC) attempts the creation of an Islamic Bank and invites Shoeb Sharieff to join. 2002 - Shoeb Sharieff introduces the Islamic Finance and Banking concept to University Bank. 2003 - SAHC updates the Fatwa for University Bank's use. The Scholars involved in this update to the Fatwa are Sh. Yusuf DeLorenzo and Sh. Nizam Yaquby. The bank is so successful that it forms University Islamic Financial. 2004 - Our competitor modifies the product and rebrands and registers the trade n

Meet the Manager: Shoaib S.

Shoeb enjoys an extensive background in real estate and business development. A graduate from the University of Michigan with a Bachelor of Science Degree, Shoeb is experienced in the financial services, and has considerable information technology skills which are helping the IJARA™ program become more consumer friendly through the appropriate application of technology. Shoeb is also well versed in both Residential and Commercial Lending, and serves as the President and CEO of www.ijaracdc.com, Ijara Payment Processing, and Ijara Capital.