Tagged: UM Financial Inc.

UM link-man found – but no gold!

UM link-man found – but no gold!

UM Financial Inc and UM Capital Inc the receiver, Grant Thornton, is still continuing to reclaim $1.9 m in gold paid to the financial manager of Multicultural Consultancy Canada, Joseph Adam.
The mystery of the missing gold has moved 5,700 miles away t…

Gold Fingers

Gold Fingers

A man named Omar Kalair was told to rendezvous in the dead of the night in a deserted suburban parking lot and hand over a consignment of gold and silver bullion to achieve recognition on the debts of a secretive organization.
The bizarre payment of $2…

Islamic mortgage lender in Canada fails

Islamic mortgage lender in Canada fails

Although UM Financial Inc went into receivership back in October, the consequences of the bankruptcy are beginning to be noticed only now.
Besides the fact that the case risk is giving a bad name to sharia-compliant finance in North America, it also po…

Kalair denies bankruptcy

Kalair denies bankruptcy

UM Group has discredited rumors of bankruptcy.
Omar Kalair, UM Group’s CEO, stated that the bankruptcy rumors were due to “confusion” around the winding up of one of its affiliated companies, UM Financial Inc. He added that other UM companies “continue…