Commercial Faith Based Financing
Devon Islamic is proud to be the largest financier of masjids nationally. Devon Bank has remained one of the top providers of faith-based commercial financing. It is an honor to finance religious organizations and facilities in helping them achieve their financial objectives that are in line with their beliefs and values. All our commercial faith-based products are available in Illinois, and some products are available in other select parts of the United States.
Real Estate Purchases
We offer commercial Murabaha and Ijara transactions for real estate acquisitions and expansions.
Real Estate Lines of Credit
In any state where we can offer an Ijara transaction, we can offer a real-estate backed line of credit on a revolving, non-revolving, balloon or diminishing basis. A line of credit requires real estate equity and sufficient cash flow.
Construction Financing
Construction financing can be difficult to do in a Shariah-compliant manner, but Devon Bank has experience with a variety of construction financing methods. We can custom tailor a solution to fit your needs.
Business and Trade Goods
Devon Bank can provide Murabaha financing for business equipment and trade goods. These can be conducted as single Murabaha transaction or we can provide you with a Murabaha Guidance Line in which we can aggregate smaller Murabaha transactions up to the guidance line limit.
Letters of credit are also available in a Shariah compliant manner. A stand-by letter of credit may be arranged using one of several models where payment may not be required, or a documentary letter of credit can be provided where it is known that a draw will be required.
Please contact:
Ali Khurrum - Senior Vice President Strategic Markets
AKhurrum@DevonBank.com
Please note that availability is limited depending on the state in which you are located, and this does not constitute an offer to do business in jurisdictions where Devon Bank is not licensed.
Please do not send confidential information via e-mail.
