“Patience!, Never try to deviate from your profession and from your area of interest. Concentration to your goal, Allah’s help, supportive family, the prayer of parents are the key factors in the success of a Muslim entrepreneur,” says Faisal Motiwala President of I-Care Pharmacy located at 2 Thorncliffe Park Dr., Unit#26.

Faisal Motiwalla, a Memon Muslim, native of Rajkot, Gujrat, India, has been living in this country for the last ten years.

“In the beginning, my friends were showing the short-cut path and several easy ways to get easy money. However, I resisted. First of all, I have passed my licensing examinations and completed requirements for pharmacist. I did some odd jobs in the beginning, worked free for a pharmacy to get experience, and then I worked as a pharmacy professional, and slowly I entered into the pharmacy business.  I never tried to get short-term gain at the cost of losing my profession” said Mr. Motiwala.

Mr. Faisal Motiwala earned his Bachelor degree from B.K. Modi Govt, Pharmacy College, Rajkot, India, and completed his pharmacy licensing requirements within a year of his landed immigration at Toronto, Canada, in 2000.

Faisal Motiwala

Mr. Motiwala started a pharmacy with the franchise of Rexall and the store name ‘Fenton Pharmacy’ in Markham at Steel and Brimley.  He expanded to Brampton at Sandalwood Parkway and  established a new pharmacy with the same franchise of  Rexall in Thorncliffe Park in 2010. It is a joint collaboration of a medical, a dental, and an optical clinic.  “There was a persistent request from my friends to open a pharmacy in Thorncliffe Park that is another hub of South Asian communities,” said Faisal Motiwala.  “We are providing the medical services under one umbrella office  --pharmacy, family physicians, walk-in, dental, and optical.

“Our community is continuously growing here. I am doing business; however, educating, guiding, and helping the community, and customer satisfaction are my top priorities,” said Mr. Motiwala. He said that our community was ignorant on several issues related to health and medicine. “I found several low-income customers did not even know about Trillium plan that caps limit of your medicine expense and funds above the limit expense.  We try our best to save the money of customers as much as possible,” he said.

“Language was the big barrier. Here we speak Urdu, Gujrati, Punjabi, and other South Asian languages, along with English, to cross the language barrier,” said Motiwala.

I-Care Pharmacy and Dr. E Medical Clinic got tremendous response from the Thorncliffe Park and adjacent neighbourhoods within a year. There are several doctors, both male and female, speaking different languages. Dr. F. A. Ibrahim, Dr. Parsa Amin, and Dr. Shahnaz Timol, and recently-joined Dr. Khalid Zia who speaks Punjabi and Urdu.

“Customer service, language, and best price make a big difference,” said Faisal Motiwala.

Mr. Motiwal is also introducing Halal vitamins (vitamins extracted from vegetables). He is waiting for Health Canada approval to start supplying. Halal vitamins will be supplied to all pharmacy chains of stores.

Faisal Motiwal, a husband, father of three children, remembers the days of his early struggle:  “It is all fresh in my memory. I was working for the company Celestica for survival, working free in a pharmacy, never slept more than 5 to 6 hours. However, I never deviated from my focused target to become a pharmacist entrepreneur,” he said.

"I am thankful to my wife Shabana, my son A. Kadir and daughter Fatema  who helped and supported me in  my struggling days."

“My parents’ prayer for me played a pivotal role in my success. I will urge all those whose any of parent is alive, to serve them, please them to get their prayer from their heart,” he said.

“Focused, goal-setter and target-oriented people can get entry in their own profession within one or two years in Canada,” Mr. Faisal Motiwala said emphatically.

@copyright TheMuslim.ca 2011

TORONTO, ON – Campbell is taking the lead as the first mainstream brand to launch Halal-certified products in the soup aisle.

There’s a great story behind the launch of Campbell Company of Canada’s line of 15 Halal-certified products for Canada’s growing Muslim community.

“Campbell Canada is committed to making a difference and providing products that meet the diverse dietary needs of all Canadians,” said Mark Childs, Campbell Canada’s vice-president of marketing.  “When we challenged our employees to develop new products linked to our vision of Extraordinary, authentic nourishment for all, the ideas they provided reflected the diversity of Canada, including the growing need for accessible, affordable and nourishing Halal-certified foods. With the passion, energy and commitment of the Campbell team we were able to launch our Halal-certified products.”

Canada’s Muslim population now tops one million and is expected to grow significantly over the next 10 years.  Childs adds “With the launch of our Halal-certified soups we recognize Canada as one of the most culturally diverse countries in the world.  We also recognize that not everyone eats the same foods or prepares them the same way.”

Before launching Halal-certified soups, Campbell Canada worked closely with the Islamic Society of North America (ISNA), the largest non-profit, religious, educational and non-political Islamic organization in North America, to review a selection of Campbell products and certify them as Halal under ISNA’s Halal Certification Program.

ISNA’s Halal Certification Program was established in conjunction with professionals in the field of Islamic foods and nutrition and Islamic scholars. The program includes the review of ingredients, formulas, manufacturing and sanitation processes.

Campbell Canada’s 15 Halal-certified products are identifiable by the ISNA logo on their labels. Now available at major Canadian grocery stores, these products include:

Campbell’s® Condensed Soups

Tomato

Tomato Rice

Vegetarian Vegetable

Low Fat Cream of Broccoli

Campbell’s® Gardennay® Soups

Red Pepper Black Bean

Harvest Mushroom with Real Cream

Asparagus with Sweet Basil

Red Lentil and Vegetable

V8® Soups

Vine-Ripened Herbed Tomato

Campbell’s® Broths

Vegetable Broth

Campbell’s® Ready to Enjoy Soups

Cream of Mushroom

Garden Minestrone

Light Cream of Mushroom

Light Garden Minestrone

Campbell’s® Créations Soup

Rustic Spiced Lentil and Vegetable

“Campbell is committed to providing wholesome, nourishing options for all Canadians.  Anyone following a Halal diet can trust that these products are safe to enjoy and share with their own families,” says Childs.  “Our Halal-certified soups are designed not just for the religious needs of Muslims but also to meet the demands of today’s busy lifestyles.”

This year, in recognition of the launch of Halal-certified soups, Campbell Canada donated more than 4000 cans of Halal-certified soup to Food Banks Canada for distribution to Muslims who access local food banks across the country.  The company has also made food donations to a number of mosques for Ramadan when many families go to their mosques to eat their evening meal after sundown.

For more information on Campbell Canada’s Halal-certified products, visit www.campbellsoup.ca/nourishment-for-all

About Campbell Company of Canada

Campbell Soup Company is a global manufacturer and marketer of high-quality foods and simple meals, including soup and sauces, baked snacks and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including “Campbell’s,” “Pepperidge Farm,” “Arnott’s” and “V8.” With a soup plant located in Toronto, ON, Campbell Canada is a subsidiary of Campbell Soup Company. Through its corporate social responsibility program, the company strives to make a positive impact in the workplace, in the marketplace and in the communities in which it operates. Campbell is a member of the Standard & Poor's 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoup.ca.

TORONTO:

The first panel provided an introduction of Islamic finance with a brief discussion on the fundamentals that govern Islamic finance.  The panel also provided an overview of the Islamic financial instruments used in North America. There was a detailed discussion on mortgage finance, Islamic banking, investment vehicles available for personal finance, as well as investment and development finance.

The second panel focused on Islamic Finance and the global economy. Islamic institutions weathered the credit crisis better than their conventional counterparts. However, Islamic and conventional banks "breathe the same air and swim in the same water" and Islamic players were not immune from the ravages of the crisis. This panel explained the reasons behind the resilience of Islamic banks, some of their fault lines in contemporary practice and how Islamic principles can assist in strengthening the still fragile global economy.

The audience had the opportunity to pose questions after each discussion.

News Release

TORONTO –When the world’s top 20 governmental leaders meet in Toronto later this week, the stability of today’s current global financial system will be discussed. That will no doubt include the burgeoning Islamic Financial industry which provides a viable alternative to the conventional financial system.

The top 20 economic leaders will aim to throw light on international economic developments after the financial crisis spread across the globe last year.

A few blocks away from the summit, the Institute of Housing & Mobility at the Ted Rogers School of Management, Ryerson University, in collaboration with UFANA (Usury Free Association of North America), has a limited number of seats available for those wanting to attend and participate in a series of panel discussions on the current state of Islamic Finance in Canada and around the world.

The following experts in Islamic Finance will be the lead speakers in the panel discussions.

•    Guy David, Partner, Gowling Lafleur Henderson,
•    Omar Kalair, President and CEO, UM Financial
•    Habeeb Alli, Shariah Auditor, UM Financial
•    Stephen Lange Ranzini, President & CEO, University Bank, USA
•    Shahzad Siddiqui, Author & Lawyer
•    Dr. Murtaza Haider, Associate Professor, Ted Rogers School of Management, Ryerson University
•    Atif R. Khan, Ethica Institute of Islamic Finance™, Dubai, UAE

A study released in January 2010 by the Canada Mortgage and Housing Corp. (CMHC) concluded that most forms of Islamic financing, including Shari’ah-compliant mortgages, would pose no legal hurdles if widely offered in Canada.

Today, globally Islamic banks have grown substantially as some reports have their combined global value at more than $850 billion USD in assets. Islamic banking and finance proved to be the least vulnerable to losses and the least affected by the negative impact of the global financial crisis and promises major opportunities for growth, according to the International Monetary Fund. The IMF analysis concluded that “Islamic banks overall are better poised to withstand additional stress.”

While speaking at an Islamic economic forum in Malaysia earlier this year, Indonesia’s president, Dr. Susilo Bambang Udhoyono, said: “Although Muslims comprise 23 percent of humankind, or 1.6 billion out of the world’s 6.8 population human beings, Islamic finance accounts for only one half of one percent of all financial assets in the world. But it is the fastest growing and it is growing not only in the Islamic world. London is a service centre for Islamic Finance. Investors in Islamic Financial products are growing in number in China and the United States.”

The principles of Islamic Finance have even received backing from the Catholic Church.  The Vatican’s official newspaper Osservatore Romano noted on March 3, 2009 that, “The ethical principles on which Islamic finance is based may bring banks closer to their clients and to the true spirit which should mark every financial service,” and the Osservatore’s editor, Giovanni Maria Vian, stated that, “the great religions have always had a common attention to the human dimension of the economy.”

Ryerson University, in conjunction with UFANA, would like to invite you to a series of panel discussions on the recent developments in Islamic Finance in North America with a group of financial experts who have either developed or deployed Islamic financial instruments in North America as well as in Europe and the Middle East.

Location:         Room TRS 3-176, 9th floor
Ted Rogers School of Management, Ryerson University
55 Dundas Street West, Toronto, Ontario M5B 2K3

Date & Time:    Monday, June 28, 2010, 3 p.m.

More than a dozen speakers in the conference emphasized the growth and potential of Islamic finance in Canada, that is currently a two billion dollar market worldwide and growing fast.

Sheikh Nizam Yaqoobi, a Shariah Scholar from Bahrain, quoted several ahadith explaining the importance of halal (permissible in Islamic Sharia) means of economy and establishment of institutions for Islamic finance and the system of Zakat for Muslims. “It is not optional. It is imperative on us to purify our source of earnings and spending by establishing financial and economic institutions,” Sheikh Yaqoobi said. “Halal means of sustenance and spending is so important in Islam that in the absence of halal means, the supplications will not be answered by Allah,” Sheikh Yaqoobi explained the meanings of Ahadith.

Analyzing the current economic, social, and political situation in the West was Dr. Nejatullah Siddiqi, California-based Islamic economic expert, Professor Emeritus of the Aligarh Muslim University, Aligarh, India and Ex-Visiting Fellow at the University of California at Los Angeles. He said that, by establishing Islamic financial institutions and introducing financial products that are non-exploitive and beneficent for all human beings, the image of Muslims will improve. “Co-operating and building relationships with your neighbours, your fellow citizens by involving and introducing and promoting the Islamic financial system are, not only a matter for the survival and success, but are also a part of our mission,” Dr. Siddiqi said.

Explaining the failure of the unnatural financial system of communism and exploitive system of capitalism, Dr. Siddiqi said that there is an emerging need for a financial system that can integrate the market with values and morality. From last 20 years, everyone feels the failure and doubts the “wisdom of capitalism.”

“The current financial crisis is basically the market failure in financing,” he said. “There are two types of people, and their type of relationship that makes two systems (conventional and Islamic) separate.  The first type of people are those who think how to make other people a “tool” to make profit, and they don’t have any human consideration. The second type of people are those who are selfless and try to achieve success for all, build trust, sympathy, do justice to all, and build brotherhood, sisterhood, and selfless human relationship. We miss second type of people, and here is the vacuum,” Dr. Siddiqi said.

Mufti Barkatullah, a London-based Shariah scholar and lecturer of Ebrahim College, London, UK, said that Muslims living in this part of the world are better equipped in knowledge and ability.  He pointed out that they are living in a peaceful situation and blessed with good means of living and a better situation.  They should feel the importance and responsibility to establish usury-free financial institutions here and generate consumers for this system.  He said that within the Islamic scholarship, there are several fields of specialization.  “An Imam of the Masjid may not be specialized in Islamic finance and the system. The people should ask and consult the Islamic finance specialists and those who are expert in the fiqah of Mamlat (worldly affairs and dealings with people),” he said. Quoting Sufian Suri, a tabei (companion of companion of the prophet), Mufti  Barkatullah said, “To get the real knowledge, go to  the knowledgeable, reliable, and person of integrity.”

“If you have a doubt for a certain financial product, and it didn’t clear even after asking and meeting with scholars of Islam, then go with your conscience, but don’t degrade others’ efforts or be misinformed without any knowledge ,” said Mufti Barkatullah.

Mufti Barkatullah, in an interview with this writer, said that the conventional financial system didn’t present any single innovation other than ATM machines in last 50 years and didn’t introduce a single product in last 250 years other than loan, debt, equity, lease or hybrid. Islamic finance is innovative idea for the present financial world.  It is surprising for them that financial institutions and customers will share both the risk and reward.  Very few people were listening in the beginning, but, after economic crash, a lot of people are coming to us and asking questions.  People who lost money, their lifetime savings, and homes are now realizing that the financial market should be controlled with faith and morality. Vatican also addressed the issue of faith in the financial market after the crash,” Mufti Barkatullah said.

Mufti Barkatullah said that Islamic financing in England is now reaching to a mature stage. He said that, even in the recession and downward economy, Islamic banks of England were not much affected. “The reason is that there is a balance between income and expenses.” Mufti Barkatullah said that several big financial institution in India introduced Sharia-compliant products, and in some of them he was advising.

Mufti Barkatullah and other Sharia scholars also met with the Imams of the Masajid of Greater Toronto Area and addressed this issue on Monday in a local Masjid, a night before the first conference day, and responded to the queries.

“Finance is not a new thing in Islam.  Muslims have been financing and doing business from the very beginning.  Muslims were using Suq, a written guarantee of the money from the financer, cashed all over the world. The word cheque is taken from the French that is derived by the Arabic word Suq,” explained Dr. Aznan Hassan, a Shariah scholar and expert in Islamic finance from Malaysia. He said that carrying Suq (like a traveler’s check of today, stamped by the issuer) was very common in Muslim Arab traders who were travelling different parts of the world in the North and South where the probability of robbery of currency was high.

Aznan Hasan, Shariah Financial Expert, Malaysia

Dr. Hassan said that Muslims living here with so many bounties and opportunities have extra responsibility.  Life of a Muslim is a comprehensive life. We must address all aspects of Islam, Islam in totality. Islamic finance should be a top priority because Riba (usury), according to Quran, is declaration of war with Allah. Islamic finance will not only save us from the haram (prohibited) but raise the standard and financial stability in the life,” he said.  Answering questions on Islamic financial products that have some back end involvement of Riba, he said that you can’t get in totality at this time, because the majority of people are using conventional system. But you can start and gradually move to totality. We are accountable on the deeds that are in our capacity. Allah will not ask about the things that are not in our control and capacity,” he said.

The topics covered in two days session are Islamic Finance Basics, The Scope of the North American Islamic Finance Industry in 2010, Meeting the Retail Needs of the Muslim Community, Continuing Development of Islamic Finance across North America, Islamic Mortgages in a Non-Islamic World / CMHC Study on Islamic Finance, iFreedom Mastercard First Credit Card Targeting Canada’s One Million Muslims, Ansar Financial History, Islamic Finance in North America, Meeting the Demands of the Alternative Investor, Development of Alternative Banking Industry in the UK and Italy, TFSA & Islamic Finance, Understanding Shariah Compliance and the Product Approval Process, Islamic Finance Basics for Capital Market Transactions, The Scope of the North American Islamic Finance Industry in 2010 – Capital Markets, A Discussion and Analysis of Two Recent Sukuk Offerings, General Shariah Compliance and Sukuk Structuring Issues, What do Potential Sukuk Issuers Need to Know? Canadian Issues and Sukuk Structuring in Canada, What do Potential Sukuk Investors Need to Know?, Takaful in Canada, What do Investment Bankers Need to Know About Arranging Sukuk Deals?, What makes Canada an Attractive Destination for Islamic Finance and What Would Islamic Capital Seek in Investing in Canada?.

The participants of the conference belong to following organizations:

Abu Dhabi Commercial Bank, Al Huda Center of Islamic Banking & Economics, Allen & Overy LLP, Ansar Financial, ASSAIF, Bank of Montreal, Barclays Bank, Dubai, Bennett Jones LLP, Blake, Cassels & Graydon, BNP Paribas, Cassels Brock & Blackwell LLP, Central 1 Credit Union, Deloitte & Touche LLP, Dow Jones, Dubai Islamic Bank, Ebrahim College, London, UK, Ernst & Young Middle East, Family Life Foundation, FrontierAlt Oasis Mutual Funds, Ghazanfar Bank, Afghanistan, Gowling Lafleur Henderson LLP, Guidance Financial, Harvard University, iFreedom Plus MasterCard, International Alternative Investment Review, Investment Executive, IslamicAdvisory.com, Islamic Bank of Britain, Islamic Circle of North America (ICNA Canada), Islamic Development Bank, Islamic Finance News, Islamic Finance Asia, Kabul Bank, Kuwait Finance House, LAC & Associated Consulting, Legend Securities, Lloyds TSB, Ministry of Finance – Canada, Ministry of Finance – Ontario, TheMuslim.ca, National Bank, PrivateBanking.com, Qatar Islamic Bank, Rotman School of Management, University of Toronto, Scotia Bank, State Bank of Pakistan, Straightway Ethical Advisory, TD Bank, Thomson Reuters, Tokio Marine, True Banking, UM Financial, University Bank, University of Toronto and Yasaar Media.

UFANA Conference 2010  was sponsored by  Cassels Brock Lawyers, UM Financial, ScotiaMcLeod, Guidance Residential, FrontierAlt, University Islamic Financial, Gowlings, Blakes, Legend Securities Inc., and ADCB long live ambition.

The 88-page Canada Mortgage and Housing Corp. study notes that Islamic funding instruments are widely available throughout the world. The report, by the law firm Gowling, Lafleur Henderson LLP, found no legal impediment to the practice becoming more common.

"Islamic financial products should not present any particular difficulties under Canadian accounting standards," states the study.

It adds that "given the growth of Islamic financing internationally, it can be expected that international harmonization of IF accounting and reporting ... will occur in due course."

The CMHC prefaces the report by stating it has no plans to insure Shariah mortgages, nor does it plan to change current legislation or administrative practices.

Rather, it suggests that private entities would be open to pursue offering the unique financial services to Canada's Muslim community, believed to number about 700,000, if they wish.

The report was commissioned last year at a time when efforts were underway by Muslim financial firms to have one or more of Canada's large banks issue Shariah mortgages.

Instead of interest, Shariah-compliant mortgages function by having the lender become an equity partner in the purchase of the home. The homeowner then pays monthly "rent" or "profit," along with principal payments, to the financial institution putting up the rest of the purchase price.

The co-ownership of the property does create hurdles for lenders, the report notes.

Since lenders remain co-owners, they are equally legally liable in cases of environmental contamination, non-compliance with property standards, and also for property taxes, condominium fees and other responsibilities.

The study leaves open the question of demand in Canada for Shariah mortgages, but adds that "most Canadian firms offering Islamic housing finance state that demand currently exceeds supply."