Are there any muslims banks in canada?
Re: Muslim Banks in Canada
Providing what kind of services?
money laundering. :)
Re: Muslim Banks in Canada
Guess she is looking for Islamic banking , Try Royal Bank of Canada, if you are investing , they have tailored a product for Muslim investors
Re: Muslim Banks in Canada
List of Muslim Financial Institutions
Re: Muslim Banks in Canada
Thank you aliyish and everyone.
My question was not if any Islamic financial options are available in Canada, but rather are there any Islamic banks in Canada. Because there are many Islamic banks that invest in Canada and the US, but those banks use intermediaries (i.e. other banks) to process their investments. For example If the Bank of Dubai wants to open a fund (financial product) that invests in property and the value of the fund is 50 million dollars, then they simply send their fund managers to Canada and CIBC lends them the money to invest in Canada. They then pay CIBC the money. So technically its an Islamic bank that is operating in Canada, but its not here or has been approved by the Bank of Canada, since they are going thru an intemediary bank (CIBC In this example). What I want to know is there a complete bank (which is approved by the Bank of Canada and they have branches in Canada like CIBC) which is an Islamic bank.
Thanks