UIF Corporation (UIF) is an American financial service company headquartered in Southfield, Michigan. It provides residential and commercial real estate financing, vehicle financing, and time deposit savings accounts conforming to Islamic principles that prohibit the payment and receipt of interest. Commercial real-estate financing and home financing are provided through the company's partnership programs.[1]
 | |
| Company type | Subsidiary of University Bank |
|---|---|
| Industry | Mortgage, Real Estate |
| Founded | 2007 |
Key people | Stephen Lange Ranzini (CEO) |
| Products | Partnership, Murabaha and Ijara |
| Website | Official website |
UIF has received national media attention from NPR and The New York Times for its unique services.[2][3][4][5] UIF’s faith-based lending program has been highlighted in a speech of the Federal Reserve Bank of New York[6] and in the official magazine of the Federal Reserve Bank of Richmond.[7]
UIF currently offers financing, including murabaha and ijarah, in Arizona, California, Colorado, Connecticut, Delaware (Commercial Financing Only) [8] Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington and Wisconsin.[9][10]
References
edit- ^ "About Us".
- ^ Samuel G. Freedman (6 March 2009). "A Hometown Bank Heeds a Call to Serve Its Islamic Clients". New York Times. Retrieved 1 April 2019.
- ^ "Episode 701: A Bank Without Interest". NPR. 13 May 2016. Retrieved 1 April 2019.
- ^ Sally Helm (12 May 2016). "Michigan Bank Discovers The Need For Islamic Finance Products". NPR. Retrieved 1 April 2019.
- ^ "Bancorp".
- ^ "Regulation and Supervision of Islamic Banking in the United States - FEDERAL RESERVE BANK of NEW YORK". www.newyorkfed.org.
- ^ "Islamic Banking, American regulation" (PDF). Retrieved 2024-02-03.
- ^ "Islamic Home Financing".
- ^ "Home Financing | UIF - University Islamic Financial - Islamic Home Financing". Archived from the original on 2017-05-22. Retrieved 2017-06-05.
- ^ "License & Registration Information".
