Faith-based Products

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. In states where we can offer a Musharaka 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 transactions 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.

Contact one of our Commercial Islamic Financing Specialists:

Vincent Baratta, Senior Vice President
(773) 423-2549
vbaratta@devonbank.com

Vincent Sarelli, Vice President
(773) 423-2559
vsarelli@devonbank.com

George Dimitrakopoulos, Vice President
(773) 423-2523
gdimitrakopoulos@devonbank.com

Wesley Studzinski, Vice President
(773) 423-2507
wstudzinski@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.