UM Financial

UM Financial Group is Canada’s premier Islamic Financial institution and the only Canadian entry on The Banker magazine’s Top 500 Islamic Financial Institutions. Mint provides UM Financial Group branded prepaid cards targeted at Canada’s Muslim population, which addresses the problem that in Islam, interest charges are strictly prohibited, and the use of credit cards where funds are made available by providing credit which incurs interest is not allowed. This applies to all financial products where interest is normally incurred thereby limiting the financing options available to the Islamic community and creating a need for a payment alternative to credit while respecting and abiding by cultural beliefs. The UM Group caters specifically to the Islamic community with payment solutions and financial products that are Shariah compliant. Unlike regular credit cards where goods and services are purchased on credit, interest is charged and all data is captured to help establish consumers credit history, the Mint product solution can be used anywhere MasterCard® is accepted for ultimate easy use, while not charging any interest for use of the card since the card is preloaded with the consumers’ money respecting Islamic cultural norms and beliefs. Prospective customers will apply for the cards online and at community events.