Islamic law and Home finance in US, strict Shariah compliance, didn’t believe it – think again! The worst part – Obama admin funding them through corrupt Freddie Mac (with your tax dollars)!

Posted on July 24, 2011 Home Finance
Home Financing the Sharia Way.
Riba-Free Financing & Replacement.

Sharia Compliant Home Financing available today through Guidance Residential. A national lender with over $2 billion in contracts. Buy your new home or finance a replacement today.

Take advantage of these historically-low profits rates today.

After my closing why do I receive a notification letter from Freddie Mac?

On May 20, 2009, President Obama signed into law the Helping Families Save Their Homes Act of 2009 that is designed, in part, to address many oversights in the conventional mortgage industry. In response to the requirements of this new law, Freddie Mac, a corporation chartered by Congress to support the home financing market, will be sending you a standardized notification letter. If you receive such a letter regarding your Declining Balance Co-ownership agreement, it’s no cause for concern.

The Declining Balance Co-ownership Program has been designed to comply with Sharia principles from A to Z – from the point when a customer enters a home financing transaction to the point where the ultimate funding for that transaction is provided. Guidance obtains external funding for the Program through an agreement with Freddie Mac. In this agreement, Freddie Mac makes investments to take a co-ownership stake in properties financed under the Program. This provides Guidance a steady stream of funds that we use to fund our Sharia-compliant home financing contracts. The notification letter is for informational purposes only and serves to meet the requirements of the Helping Families Save Their Homes Act.


Sharia Compliant Home Financing with Guidance Residential 

Guidance Residential, LLC, a wholly owned subsidiary of Guidance Financial Group, LLC.

We have worked closely with leading financial institutions and world renowned Sharia scholars to develop and offer products that you can use with confidence. Our team of financial experts and accomplished professionals are committed to delivering quality products with the highest level of service and strict adherence to the principles of Sharia.

Every product we offer is certified by an independent Sharia Supervisory Board to ensure strict standards of Sharia compliance. Our Sharia Board comprises some of the world’s leading experts in the Islamic law of financial transactions. These Sharia scholars are actively engaged in designing our products and in overseeing them.

Greetings From The Sharia Supervisory Board

For myself, and on behalf of the other members of the independent Shari`ah Supervisory Board of Guidance Financial Group, I wish you peace, prosperity and blessings in this world and the next.

Muslims across North America have experienced difficulties in managing their money matters in accordance with Shari`ah. In the absence of viable Islamic alternatives, most Muslims have opted, out of necessity, to use conventional financial products and services for their short and long term financial needs. Even so, many Muslims, sensitive to the clear prohibitions against riba, have attempted to limit their exposure to interest-based finance.

Scholars, like those of us who serve on the Guidance Shari`ah Supervisory Board, have worked hard in recent decades to revive the traditional role of Shari`ah in finance. Around the world, great strides forward are being made. Shari`ah-compliant businesses and financial service providers are now operating in almost every Muslim majority country, and in many countries where Muslims are a minority as well.

The intention of our Shari`ah Supervisory Board is to ensure that useful, competitive, and truly Shari`ah-compliant products are developed, delivered and maintained by Guidance Financial Group, so that you may rest assured that you are transacting in ways that comply with the religious and moral teachings of Islam. Toward this end, our Board performs regular audits of the company and its business.

It has been the pleasure of our Shari`ah Board to work with Guidance Financial Group, and with some of the leading experts in U.S. finance, in order to devise ways and means for you to purchase a home in a manner that is free of riba. We also work with Guidance to enable you to invest for your family’s future in ways that accord with Islamic legal and moral principles.

In closing, I wish you a pleasant experience in all of your transactions with Guidance.
Yusuf Talal DeLorenzo

On behalf of the Shari`ah Supervisory Board

As an independent body, the Sharia Supervisory Board of Guidance Residential includes Sharia scholars who are among the world’s leading experts in the Islamic law of financial transactions. All are internationally recognized authorities serving on the Sharia boards of many of the world’s leading Islamic banks and financial institutions. They are active in teaching and research, and have authored many books and articles.


Justice Muhammad Taqi Usmani
Justice Usmani has been a member of the Supreme Court of Pakistan since 1982. Presently, he is Vice President of Dar Al Uloom Karachi. Formerly, he was the Deputy Chairman of the Islamic Fiqh Academy, Jeddah. He is also Chairman of the Shari’ah Supervisory Boards of Guidance Financial Group, USA; Saudi American Bank, Jeddah; and Citi Islamic Investment Bank, Bahrain; Vice Chairman of the Shari’ah Supervisory Board of Abu Dhabi Islamic Bank; and member of the Shari’ah Supervisory Boards of Al-Baraka Group, Jeddah; First Islamic Investment Bank, Bahrain; and the Islamic Unit of the United Bank of Kuwait, among others. Justice Usmani holds Alimiyyah and Takhassus degrees from Darul Uloom, Karachi, an M.A. degree from Punjab University and an LLB from Karachi University.


Dr. Abdul Sattar Abu Ghuddah
Dr. Abdul Sattar Abu Ghuddah is a member of the Shari’ah Supervisory Board of Guidance Financial Group. He is also a director of the Department of Financial Instruments at Al-Baraka Investment & Development Company, a member of its Shari’ah Supervisory Board and Shari’ah Advisor to the parent company, Dallah Al-Baraka Group. He is an active member of the Islamic Fiqh Academy, Jeddah and the Accounting and Auditing Standards Boards of Islamic Financial Institutions. He has taught Fiqh and Islamic studies in Riyadh and Kuwait. From 1982-1990 he was a member of the Fatwa Board in the Ministry of Islamic Affairs in Kuwait. He formerly lectured in the Faculty of Law and Shari’ah at Kuwait University. Dr. Abu Ghuddah obtained BA degrees in Islamic Shari’ah and in Law from Damascus University. He then went on to earn his MA in Shari’ah and Hadith and his Ph.D. in Shari’ah and Comparative Fiqh from Al-Azhar University, Cairo.

Shaykh Nizam Yaquby
Shaykh Nizam Yaquby has contributed important original research on many aspects of modern Islamic finance, and is considered one of the world’s leading experts in the field. He is a member of the Shari’ah supervisory boards for several Islamic financial institutions, including Guidance Financial Group, Citi Islamic Investment Bank, and the Abu Dhabi Islamic Bank. Since 1976, he has taught Tafsir, Hadith and Fiqh in Bahrain. He is also the author of several articles and publications on Islamic finance and other sciences in English and Arabic. Shaykh Yaquby received his M.Sc. in Finance from McGill University in Montreal. He was educated in the classical Shari’ah sciences in his native Bahrain and in Makkah.

Dr. Mohamad Daud Bakar
Dr. Mohamad Daud Bakar is an Associate Professor in Islamic Law and the Deputy Rector, Student Affairs and Discipline, at the International Islamic University, Malaysia. His areas of specialization include Islamic Legal Theory, Islamic Banking and Finance, Islamic Law of Zakah and Islamic Medical Law. Besides his teaching and research assignments, Dr. Mohamad Daud provides Shari’ah consultancy, structuring and advisory services to various Islamic financial institutions. Dr. Mohamad Daud is currently a Shari’ah Advisor to Guidance Financial Group and a member of the Shari’ah supervisory board of esteemed organizations such as the Securities Commission of Malaysia, the Central Bank of Malaysia, Takaful Nasional Berhad, HSBC (Malaysia), Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in Bahrain, Keppel Insurance (Takaful) Ltd of Singapore, the Dow Jones Islamic Market Index and the Malaysian Rating Corporation Bhd. Dr. Mohamad Daud obtained his Bachelor of Shari’ah from the University of Kuwait in 1988 and was later conferred with a Ph.D. from the University of St. Andrews, Scotland.

Shaykh Yusuf Talal Delorenzo
Shaykh DeLorenzo is considered a leading authority on Islamic finance in the United States. He has translated over twenty books from Arabic, Persian, and Urdu for publication, including a three-volume Compendium of Legal Rulings on the Operations of Islamic Banks. Shaykh DeLorenzo has also been a pioneer in internet education with a course entitled “Principles of Islamic Investing.” He is a member of Shari’ah boards of several Islamic financial institutions in the United States and abroad, including Dow Jones Islamic Markets and Guidance Financial Group. Shaykh DeLorenzo has served as secretary of the Fiqh Council of North America and was also an advisor on Islamic education to the government of Pakistan. Following a university education in the United States, Shaykh DeLorenzo studied the classical Shari’ah Sciences with scholars in Pakistan.

Dr. Muhammad Imran Ashraf Usmani

Dr. Usmani has been teaching Islamic sciences for the past fifteen years in Jamia Darul Uloom Karachi and has published several books and articles, including Meezan Bank’s Guide to Islamic Banking. Dr. Usmani also serves as a Sharia Supervisory Board Member / Sharia Advisor to: State Bank of Pakistan, HSBC Amanah Finance, Credit Suisse, Lloyds TSB, Meezan Bank, Pak Kuwait Takaful Co and others. Dr. Usmani holds LLB, M.Phil. and Ph.D. degrees in Islamic Finance from Karachi University as well as Alimiyyah and Takhassus degrees in Islamic Jurisprudence from Jamia Darul Uloom Karachi.


Sharia Board Letter

Declining Balance Co-ownership Home Acquisition Program Fatwa

Declining Balance Co-ownership Home Acquisition Program Fatwa on Disclosures

Declining Balance Co-ownership Home Acquisition Program Fatwa on Title Registration

Declining Balance Co-ownership Home Acquisition Program Fatwa on Private Mortgage Insurance

Press Releases:

For the latest news on our company click to read the full article:

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