Islam-based bank shares risk, profits
By Craig Kielburger and Marc Kielburger
TORONTO, ONTARIO — There is nothing typical about Pervez Nasim.
He may look like your average businessman, with his collared shirt, pressed slacks and neatly groomed beard. But when you begin to discuss finances with him it quickly becomes apparent that the similarities end there.
“Maximizing profit is not most important,” he tells us. “Charity and social responsibility are part and parcel with the bottom line.”
Nasim is the chairman of the Ansar Co-operative Housing Corporation, a Toronto-based financial institution that strictly adheres to the rules of Islam. He’s part of a rapidly growing faith-based financial industry that is turning the basic principles of banking upside down.
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