Muslim Credit Union to facilitate regular customers in $100 exchange

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    (Photo Credit: Rai Ricomas/103.1FM)

    The Muslim Credit Union will facilitate regular customers who wish to exchange the old $100 bill for the new polymer note.

    A release from MCU President Jamsheed Khan says while the credit union supports the initiative, it is concerned that the Muslim population now has a short space of time for the transition.

    Mr Khan says the community keeps money away from conventional banks for a number of reasons, including interest contamination and exorbitant banking rates.

    They also attain wealth through lawful means such as savings, small businesses, zakat and inheritance.

    He says the MCU’s highly trained staff will follow due diligence to ensure no improper transactions are carried out.

    Mr Khan is also urging Muslims to utilize the credit union’s services to safeguard their wealth, as it is fully Shariah compliant and endorsed by Darul Uloom.