Products
We have worked on products for insurance companies, fund managers, and investment banks among others. Below is a small sampling:
Mortgage Alternatives
SHAPE™ has structured mortgage alternatives (“MALT™” – our term for processes that meet the mortgaging needs of Muslim consumers and businesses, but take an alternative or non-traditional path to get there.) for the US, Canada, Europe and the GCC. SHAPE™ has the keys to ijara wa iqtina – Redeemable Leases; musharaka mutinaqisa – Declining Balance Partnerships; and murabaha – Installment Credit Sales as well as istisna’a – Construction solutions.
Our solutions meet consumer protection standards like RESPA in the United States and fit within banking and mortgage regulations, as well as securitization processes.
In the United States, SHAPE™ is pleased to have structured ijara and murabaha home finance solutions which are offered as a comprehensive servicing and trust packages through a community bank in the United States.
Profit Sharing Investment Accounts
SHAPE™ has structured Profit Sharing Deposits which comply with FDIC rules in the United States. These are designed to have unique advantages under Basel II regulations in comparison to traditional PSIA accounts at Islamic banks. Our concepts are applicable in all OECD, GCC and ASEAN markets.
In the US, our Profit Sharing Deposits are currently offered by University Bank of Ann Arbor Michigan to any US customer. The SHAPE™ Profit Sharing Deposit program invests in the SHAPE™ MALT™ redeemable lease program currently offered by University Bank. The yield of the account can go up or down depending upon the performance of the underlying MALT™ portfolio.
SHAPE™ must stress the fact that deposits are not made at SHAPE™ Financial Corp. We do not take or offer deposits and are not licensed to do so. SHAPE™ does not work directly with the consumer. SHAPE™ licenses Islamicaly compliant financial products to banks and mortgage lenders.
We have worked on products for insurance companies, fund managers, and investment banks among others. Below is a small sampling:
Mortgage Alternatives
SHAPE™ has structured mortgage alternatives (“MALT™” – our term for processes that meet the mortgaging needs of Muslim consumers and businesses, but take an alternative or non-traditional path to get there.) for the US, Canada, Europe and the GCC. SHAPE™ has the keys to ijara wa iqtina – Redeemable Leases; musharaka mutinaqisa – Declining Balance Partnerships; and murabaha – Installment Credit Sales as well as istisna’a – Construction solutions.
Our solutions meet consumer protection standards like RESPA in the United States and fit within banking and mortgage regulations, as well as securitization processes.
In the United States, SHAPE™ is pleased to have structured ijara and murabaha home finance solutions which are offered as a comprehensive servicing and trust packages through a community bank in the United States.
Profit Sharing Investment Accounts
SHAPE™ has structured Profit Sharing Deposits which comply with FDIC rules in the United States. These are designed to have unique advantages under Basel II regulations in comparison to traditional PSIA accounts at Islamic banks. Our concepts are applicable in all OECD, GCC and ASEAN markets.
In the US, our Profit Sharing Deposits are currently offered by University Bank of Ann Arbor Michigan to any US customer. The SHAPE™ Profit Sharing Deposit program invests in the SHAPE™ MALT™ redeemable lease program currently offered by University Bank. The yield of the account can go up or down depending upon the performance of the underlying MALT™ portfolio.
SHAPE™ must stress the fact that deposits are not made at SHAPE™ Financial Corp. We do not take or offer deposits and are not licensed to do so. SHAPE™ does not work directly with the consumer. SHAPE™ licenses Islamicaly compliant financial products to banks and mortgage lenders.