This past weekend Guidance Residential and Dr. Muzammil Siddiqi hosted community leaders and members of Southern California for an afternoon with world renowned Islamic Finance Scholar Shaykh Yusuf Talal DeLorenzo. Community members gathered at the Islamic Society of Orange County (Garden Grove) to hear Sh. Yusuf DeLorenzo speak about how his journey of studying Islamic Finance lead him to joining Guidance’s Sharia Board as part of his dedication to building Islamic financial institutions that serve the community and humanity.
The second part of the presentation was an open Q&A session where audience members asked the Shaykh and a Guidance Residential rep frank questions about their program, the authenticity of their product, and its competitiveness to the conventional market.
A Beautiful day for a Beautiful community! > “An honor learning from legendary scholar, Sh Yusuf DeLorenzo.” – Sh Nomaan Baig and Imam Suhail Mullah Attendees were provided with a copy of Mufti Taqi Usmani’s book on Islamic Finance.
Testing before the event.Dr. Muzzamil Siddiqi introducing his friend and respected colleague Sh Yusuf DeLorenzo to his community at the Islamic Society of Garden Grove.“After millions in investment, coordinating with 18 law firms and a global sharia board a sharia compliant product was created, it was a large risk but it was successful.” – Hussam Qutb“For home financing, the Islamic model is not lending; in Islam lending is not a business it is a charitable deed.” – Shaykh DeLorenzo“Islamic Finance is participatory (musharaka), sharing the risk and making it inclusive to all members of society.”- Shaykh DeLorenzo“Islamic Finance is based on taking responsibility and risk. The Prophet Muhammad (SAWS) said “No profit without responsibility.” – Shaykh DeLorenzoHussam Qutb describing how Guidance Residential standard contract protects all homeowners against recourse.Hussam Qutb speaking about how Guidance Residential relationship with its customers differs from conventional mortgages.Imam Suhail Mullah of the Islamic Society of Orange County asking Sh DeLorenzo about the state of Islamic FinanceA community member commenting on Sh Yusuf DeLorenzo’s presentation.Sh Nomaan Baig of the Institute of Knowledge asking Sh Yusuf to elaborate on the principles of Islamic Finance.The audience was captively listening.Sh Yusuf speaking to the principles of Islamic Finance.Shaykh Yusuf DeLorenzo speaking to the audience about Islamic FinanceSh Yusuf responding to questions from the audience.A community member commenting on Sh Yusuf DeLorenzo’s presentation.A community member commenting on Sh Yusuf DeLorenzo’s presentation.
In this video: Ask questions about authenticity. Ask about competitiveness with conventional home finance providers. Apply the same criteria for conventional providers to Islamic providers.
