The word "SAMAD" means everlasting and eternal. It is registered under the U.S. Trade Name and Patent Act. Our vision is to be the largest Muslim owned and operated business enterprise in the United States and to make SAMAD a Muslim household name in America.

The mission is to bring together the financial resources and professional expertise, in the United States and abroad, who believe in the Islamic economic philosophy. The purpose is for the syndication, purchasing, operating, and managing efficiently the various types of businesses made lawful to Muslims while maintaining the highest standard of business ethics.

SAMAD's Islamic Home Financing Program has been approved by a Board of Internationally recognized Shariah Scholars since 1996. The program complies with Islamic Guidelines and therefore free of interest (riba).

The program is called "Lease To Purchase" (Ijara wa Iqtina). The Lease To Purchase contract blends many of the concepts found in traditional lending institutions. The architects of the 'contract' were guided by three basic principles: 1) to create a contract for interest-free financing, 2) to structure the 'contract' so that it upholds the basic rights, duties, and obligations found in traditional home mortgage, and 3) to retain the income tax deductibility benefits of the traditional home mortgage.

How the Program Works:

  1. The individual selects the property;

  2. Pays the required on-account payment (traditionally called down payment), which could be 5% to 20% or higher if the individual chooses to do so.

  3. An independent trust holds the title to the property.

  4. The house can be leased for 10, 15, 20 or 30 years, depending on the individual choice.

  5. The lessee pays monthly rent to the trust, also called on-account payments. The trust will pay real estate taxes and property taxes on behalf of the lessee and add these to the monthly rent. At the end of the lease period, the title is transferred to the lessee for a fee of $1.00.

  6. Should the personal situation for the lessee change and he or she has a need to sell the house, the trust is informed of this need and an arrangement is made to sell the house. If the house is sold at a profit, the lessee keeps 100% of the profit. If there is a loss, the lessee bears the first loss.

  7. Property taxes and rent portion of your monthly payment may qualify for tax deductions.

  8. Closing costs will depend upon the property selected by the consumer. However, these are standard costs associated with real estate closings.

Even though the 'Lease to Purchase' program was specifically designed to meet the religious obligations of Muslims, it will be made available to all qualified people in the Untied States, regardless of race, creed, color, or sex.

The Shariah contract "Lease to Purchase" is owned and copyrighted by CIHF Partners and SAMAD Home Finance, LLC, which also acts as the General Managing Partner for the Partnership. SAMAD Home Finance, LLC may license the program to other financial organizations that might be interested in meeting the needs of the Muslim market in the United States.

The Samad Islamic Home Finance™ process has been approved by the Sharia’a scholars in varying capacities. If you desire any information about our sharia’a scholars, who have approved our original contract, please contact our office.

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SAMAD Home Finance, LLC
P. O. Box 293058
Dayton, Ohio 45429
USA

Toll-Free: 1-866-354-5494
Tel: (937)434-6445,  Fax: (937)298-4310
bga@samadgroup.com