Assalamu Alaikum

Alhamdulillah, both Co-operatives declared Patronage Dividends same as last year, $6.40 per share or @ 6.4%, effective June 30, 2007. All Members who held shares during 2006 must have received the Dividend Notices. Financial Statements for 2006 are in final stage of audit and will be available soon, insha’Allah.

The 3rd International Islamic Banking, Finance & Insurance (Takaful) Conference at the Ottawa Congress Centre in May was very successful, Alhamdulillah. Many International and North American Speakers made presentations on various topics. You may download any presentations by going on the Program Menu from the Conference Website at www.ansargroup.com/conference

The purpose of this Conference was to share, educate and bring awareness to various segments of our society about the concepts of Islamic Economics and Finance and the practical application of it in various countries. About 40% of the Conference attendees were non-Muslims and included many Government Officials, Regulators, Insurance and Senior Banking Industry representatives. Let us hope this will result in many positive developments in Interest-free Islamic Financing. You can see some pictures of the Conference in this Newsletter.

Thank you wassalamu alaikum

Pervez Nasim
Chairman