Here us a guide to how sharia-compliant funds and mortgages work. They have many branches here in the states, and we have banked with them for several years as they were conservative and solid. “Although currently not quite in the very centre of attention of the global Islamic finance industry, the … Please try again. Note: This may be up to 15 emails a day. Member investors help fellow members to purchase houses. This article, linked below, reveals the characteristics of Islamization in a country based on the percentage of the population occupied by Muslims. Canada and America will go the way of Europe idiotic globalists UN NWO etc etc, “Canada is home to an estimated 1.5mn people following the Islamic faith, or around 4% of the population, which makes Muslims the second largest religion in the country, while it is also the fastest-growing. This is just great! That is sobering, given Trudeau’s dismal record of promoting the interests of Islamic supremacists. There are three main models of financing that can make an apartment or townhouse purchase Sharia-compliant. Conventional mortgages are very much that. Sharia Banking or Islamic Finance overarching principle is that all forms of interest are forbidden. islam is required to do just that. Listed below are some companies offering Islamic mortgages. We encountered an issue signing you up. The Canadian banking sector reportedly has about $18 billion worth of Sharia-compliant mortgages; Sharia financing is rapidly expanding into the insurance sector as well. The conditions and features of these mortgages vary somewhat from residential mortgages. “Sharia-compliant financial assets are forecast to reach $3.8trn by 2023, averaging annual growth of 10 percent.” A UK-based company aims to boost international opportunities of Sharia finance even further. Most of them are immigrants.”. Have they got separate laws for Muslims, or do they just disregard the existing laws for Muslim enterprises? Overall, it is estimated that the number of Canadian Muslims will double in the coming decade. FATAH: Why Shariah mortgage is a deception, tap here to see other videos from our team. After all, the threat of being labelled ‘Islamophobic’, racist or worse is never too far away. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Sharia-compliant banking is alive and well in the USA. Applying for an Ijara Transaction; General Info; Commercial. Who among our politicians has the spine to stand up to Islamist blackmail that is equivalent to a 21st-century version of selling medieval indulgences to guilt-ridden sinners seeking redemption? Preliminary Question 1: What is an Islamic mortgage / halal mortgage? Yet, Islamists have deliberately portrayed bank interest as usury and labelled the current banking system as un-Islamic. Problem is, laws don’t stop any crime, they only stipulate penalties for certain actions, so, if you can justify in your mind a law is stupid or immoral, which ours being Christian based Muslims do, and if they also don’t have to worry about paying said penalty – crying Islamophobia solves that – why would they abide? Why aren't regular accounts sharia-compliant? A handful of Sharia-compliant credit unions opened in Canada in recent years, but many have struggled to stay afloat. If there is an image appearing on this blog that belongs to you and you do not wish for it appear on this site, please E-mail with a link to said image and it will be promptly removed. Comments may take up to an hour for moderation before appearing on the site. Unauthorized distribution, transmission or republication strictly prohibited. The first is a rent-to-own structure (ljara) where the property is purchased by a trust and the borrower is listed as grantor, trustee, and beneficiary. If you get in touch with us today we’ll fill you in on the full range of Islamic Bank Canada products we have. Too many hobbies, Take a trip to Dearborn, Michigan and get back to me about the Muslim Brotherhood hoods infiltration of the US as well as Canada. Toll Free: 1-87-786-IJARA 1-877-864-5272 × Contact Us; Residential. In a UK or US context, domestic law can be used for Islamic finance without importing … Sharia prohibits the … The industry was also hit by a case of fraud in 2011 that left some … Most of them are immigrants.”, And expect demand in Canada for Sharia finance to increase steadily, along with demands for other Sharia tenets, such as curbing speech that offends Islam. The insolvency of an Islamic mortgage lender in Canada may hinder the growth of sharia-compliant finance in North America, where the industry has struggled to gain traction in the absence of a supportive regulatory framework. … Shariais the Islamic legal code, and it contains certain prohibitions that affect financial transactions. In some countries this sharia compliant banking system has been enjoying an average growth-rate of 40.2 percent per year from 2007 to 2015. Besides, the Muslim community in Canada is quite young, so there is definitely a large potential for mortgage, car, house and personal insurance, credit cards and consumer loans. © 2021 Toronto Sun, a division of Postmedia Network Inc. All rights reserved. the one who records it and the two witnesses” Exactly, how will the Canadian government tax, zero interest? sharia mortgages are commonly known as “islamic mortgages. allah doesn’t seem interested in business or banking:but then who needs it when you can get easily money by Jizya taxing the infidels? Christine Douglass-Williams promoting the interests of Islamic supremacists, Video: Robert Spencer on the question of whether or not Muhammad actually existed, Muslim US Army soldier arrested over jihad plot to bomb US troops and commit jihad massacre at 9/11 Memorial, Richard Dawkins: ‘Decent liberal people overlook the homophobia and the rampant misogyny of extreme Islamism’, In interview with state-run Iranian news agency, Leftist American professor denounces Trump, ‘Islamophobia’. HSBC has been offering sharia-compliant home finance for five years through its Islamic finance arm, HSBC Amanah, while the Arab Banking Corporation has its own Islamic HPP range, called … The IHC follows a Shariah compliant equity based business model. Muslim Link reported that the company has partnered with True North Mortgage and offers a wealth of choices for Canadian Muslims at rates competitive with more conventional mortgages. Robert Spencer in FrontPageMag Was the omission a recognition that the sword of Damocles is hanging over every journalist? Our halal mortgages offer convenience and peace of mind. These ‘products’ and terminology were put into practice by the jihadi Pakistani military dictator General Zia-ul-Haq who established Shariah banking law in Pakistan. They will be outvoted by islamists and socialists. Two authors, both senior Muslim bankers, have written scathing critiques of Shariah banking, one labelling the practice as nothing more than “deception,” with the other suggesting the entire exercise was “a convenient pretext for advancing broad Islamic objectives and for lining the pockets of religious officials.”, In his book, ‘Islamic Banking — A $300 Billion Deception,’ Muhammad Saleem, former president and CEO of Park Avenue Bank in New York, not only dismisses the founding premise of Shariah and Islamic banking, he writes: “Islamic banks do not practise what they preach: they all charge interest, but disguised in Islamic garb. Every English-language translation of the Quran has translated the Arabic word ‘riba’ as usury, not ‘interest’. If they institute this policy I would sure like to know about it. Shariah-Compliant Financing Affordable, Halal Home Financing Manzil is the only institution in Canada that has access to open fixed (Murabaha) and variable (Musharaka) rate Halal certified mortgages … Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. The Canadian banking sector reportedly has about $18 billion worth of Sharia-compliant mortgages; Sharia financing is rapidly expanding into the insurance sector as well. The IHC follows a Shariah compliant equity based business model. Islamic mortgages are available from a number of banks in the UK. The golden rule has been forgotten in Canada. Omar Kalair, former CEO of a mortgage company called UM Financial, and co-accused Yusuf Panchbhaya, have been acquitted of all charges related … I think in Canada it is Bank of Montreal? Exposing the role that Islamic jihad theology and ideology play in the modern global conflicts, Feb 12, 2020 3:00 pm By Christine Douglass-Williams, Islamic finance is rapidly expanding in Canada. What is wrong with them? The Islamic financial model works on the basis of risk sharing. The origin of Islamic banking has its roots in the rise of Islamism or the use of Islam as a political ideology beginning in the 1920s. UM Financial built up a reputation as a premier Islamic financing company from its founding in 2004 up until it collapsed in 2011. Under sharia rules, it is not permissible for institutions to charge interest on … The money being raised will go straight to jihad. The Islamic bank agrees with you from the start that the … The main categories within Islamic finance are: Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka. Canada already has “Islamophobia” motion M-103, along with a $23-million followup plan to “crack down” on “Islamophobia,” as well as to train law enforcement to monitor online and offline “hate speech.”, Canada is also welcoming in one million immigrants a year, with a Prime Minister who has his clear preferences: Trudeau has declared that “evangelicals are the worst part of Canadian society.” Also, Canada’s zeal to lead the charge on the UN Migration Pact will “spell radical change for Canada,” turning mass migration into a human right. I just pray Canada, real Canada wakes up before it is too late. Well, Islamic banks have come up with a product called the “Home Purchase Plan” or “HPP”. THIS is the kind of government the liberals want to set up for America. 100% DEBT-FREE, NO LIEN, NO MORTGAGE PAPERWORK, NO PRIVATE MORTGAGE INSURANCE (PMI), NO FORECLOSURE; SPECIAL INCENTIVES FOR BIG INVESTORS; Islamic Cooperative Homes (ICHO) Islamic Cooperative Homes (ICHO) is a nonprofit home ownership Cooperative; an honest Islamic Community Service to provide Halal financing on Musharaka (partnership) or … Staggering is a perfect word to describe the Brotherhood members in the entire West. Images on this blog are copyright to their respective owners. How many Muslim groups showed up to get lawmakers to strengthen hate crime laws and ask lawmakers what they are doing to oppose ineffective and unconstitutional violent extremism programs. The Lib-Jihad Party of Canada is in bed with the Muslim Brotherhood. Read an article today about Maryland’s showcase power of door-to-door lobbying. Thank you for sending me the link; I greatly appreciate it. All over Europe Islamic banks are establishing branches, western banks are offering Sharia … It has also fostered an environment conducive to Islamist militancy.”, Andrew Potter wrote a piece on this in Maclean’s magazine, with the headline: “Shariah Banking – There’s big business in fooling God” and he is OK with it.” Potter added, “if helping Muslims fool their God is part of the price we have to pay for global economic and political stability, it’s the bargain of the century.”. Most of them are immigrants, but there is also a growing percentage of Muslims born in Canada and a smaller, but increasing number converting from other religions to Islam. Read More. Sharia-compliant mortgages typically work in the same way as traditional home loans. Absolutely not! Thus, they engage in deceptive and dishonest banking practises.”, Another expert, Timur Kuran, who taught Islamic Thought at the University of Southern California, mocks the very idea. Islamic mortgages are designed to achieve the same economic results while complying with Shariah. SHARIA-COMPLIANT MORTGAGES. Hi Dan, The person who owns the gold rules. Reach us at 1-87-786-IJARA ( (877) 864-5272 ) or contact us below: Your Name * Although created in line with Islamic or Sharia law, it’s not just Muslim people that can choose Islamic mortgages, as non-Muslims may well settle on an Islamic mortgage purely for ethical reasons. There are different types of Islamic mortgage products. In fact, innovation in the mortgage market was the main theme in a speech by Stephen Poloz, the Bank of Canada Governor, at the 2019 Winnipeg Chamber of Commerce. Last week’s Ontario Superior Court judgment exonerating two men for a dozen criminal charges related to the marketing of Islamic mortgages based on Shariah law went unreported in all … The second is a cost-plus model (murabahah) where a bank buys the apartment at a price above asking and a buyer pays back the cost over time. But it’s here, and we now have the banks, and by extension, the US government, enforcing Sharia. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Shariah banking and Islamic finance did not exist for most of Islam’s 1,400-year history. The Canadian banking sector reportedly has about $18 billion worth of Sharia-compliant mortgages; Sharia financing is rapidly expanding into the insurance sector as well. He is allowing an Anaconda to slowly squeeze Canada to death. So how to get around that? You will receive a daily mailing containing links to the stories posted at Jihad Watch in the last 24 hours. Andrew Harrod Another option is a co-financin… We have different loan programs for residential and commercial real estate in the USA and Canada. For instance, to qualify for a Revenue Property Mortgage, you must demonstrate that your personal … The conditions and features of these mortgages vary somewhat from residential mortgages. In case anyone was wondering……it used to be that everyone had the common-law right to issue private debt notes and become a banker…….it turned out there were lots of problems with unregulated banking, so laws got enacted, there are restrictions on who can set up lawful financial intermediaries……so……back to my questions above: Does Canada have special laws for Muslim banks, or do they just ignore existing laws when the violator is a Muslim? In Islamic mortgage this locked-in pricing happens in the quarterly or six monthly or annual buy-back of a stake in the house. It should be interesting when the normal banks find themselves bypassed and start complaining about, “irregularities”. A sharia-compliant mortgage allows you to buy a house in a sharia-compliant manner over a number of years without using any interest (riba). If you are forwarding to a friend, please remove the unsubscribe buttons first, as they my accidentally click it. Robert Spencer in PJ Media, Articles at Jihad Watch by Are there money-laundering laws? Besides, the Muslim community in Canada is quite young, so there is definitely a large potential for mortgage, car, house and personal insurance, credit cards and consumer loans. As mentioned earlier, after a year of paying $17,448.12 in mortgage payments, on this 25 year mortgage at a 5% interest rate, the homeowner would still owe the bank $244,806.88. Hey Canada quit arming the enemy! The deed, mortgage, and assignment are signed at once at the closing and recorded in order. Islamic Cooperative Homes (ICHO) Islamic Cooperative Homes (ICHO) is a nonprofit home ownership Cooperative; an honest Islamic Community Service to provide Halal financing on Musharaka … This was supposed to be in reply to Elee. With the Canadian Mortgage and Housing Corporation releasing a report this week that may pave the way for widespread availability of Islamic financial instruments in Canada, including Sharia-compliant mortgages, an expert on Islamic banking is cautioning that Canadians should examine the implications of implementing the report’s recommendations. Sharia-Complaint Mortgages … United States Constitutional prohibitions and … Canada’s first mortgage solution that may enable you to finance up to 95% 1 of the value of your vacation home; RBC® Cash Back Mortgage 2. Multiple-language offerings, personalised services and modern technology-based banking and investment products further create demand in Islamic banking. … Hugh Fitzgerald Or just by simply stealing stuff from the kuffar:allah gives full permission and “in advance”;after all,by allah’s moral code,stealing stuff is merely a “token for the believers” as long as the victims are non-muslims, “allah promiseth you much booty that ye will capture and hath given you this in advance,and hath withheld men’s hands from you that it may be a token for the believers and that he may guide you on the right path”, Here we see allah’s idea of being on the “right path”:he tells muslims it is perfectly OK to steal from the infidels,the loot is there for the taking.It seems allah isn’t too bothered about that “Thou shalt not steal commandment”.And what is Jizya tax really if not an islamic version of an extortion scam,a protection racket to be paid off and thus a form of koranically sanctioned theft {koran 9:29}. Visit our Community Guidelines for more information and details on how to adjust your email settings. Faith-Based Financing Faith Based Financing FAQs Murabaha Shariah Board Approval Heter Iska Stay Connected Islamic Financing Devon Bank has been offering Islamic Financing designed to avoid … But allowing Sharia-compliant finance is dangerous. It’s basically the same tactic the Bidens use. Sharia finance is rapidly growing in the UK, Canada and Australia, and generally expanding across the globe. This article explains theshariaprohibitions and how lenders have reacted, providing alternative financing products to Muslims. Dang. Westman : I am a Canadian Christian guy originally from Iraq and I said is before as my Christian ancestors in Iraq said it hundreds of years ago out of their bitter experience with Islam since its rise “ if a Muslim is a piece of gold, don’t put it in your pocket otherwise it will rip through “ meaning Muslims would eventually betray non-Muslims especially Christians when they get the chance and power to do that especially when they take Islam seriously and we saw their betrayal to Iraqi Christians after the fall of Saddam’s bloody regime and how they stabbed Christians in the back even Muslims who used to be longtime neighbors to Christians, they betrayed Christians too . In the latest edition of World Finance, published by … Canada is home to an estimated 1.5mn people following the Islamic faith, or around 4% of the population, which makes Muslims the second largest religion in the country, while it is also the fastest-growing. Zero Mortgage Canada offers musharaka mortgages that are entirely compliant with Islamic Sharia law and with Canadian law. We welcome everyone to explore Islamic banking in Canada and our exceptional service. Two Muslim men — an activist turned Shariah mortgage seller and an Islamic cleric who sold his Islamic seal of approval on such mortgages — were acquitted on Friday of a dozen criminal … Join the mailing list to receive daily email updates. It should leave every individual free to accept or reject it, and if someone wants to accept it, it should not prevent him or fight against him. Maybe they can start levying Jizya on non-Muslims? By continuing to use our site, you agree to our Terms of Service and Privacy Policy. The Solution(s) … Content copyright Jihad Watch, Jihad Watch claims no credit for any images posted on this site unless otherwise noted. Does anybody ever audit any of these businesses? On the retail side, Statistics Canada estimates that Muslims will be about seven per cent of the Canadian population by 2031. Enter your email address to subscribe. Muslim / sharia no-interest banking is racist.The Bank income has to come from somewhere and we know it will be taken from infidel investments and accounts. In his book, ‘Islam and Mammon: The Economic Predicaments of Islamism’, Kuran writes that the effort to introduce Shariah banking “has promoted the spread of anti-modern currents of thought all across the Islamic world. “Islamic finance making strides in Canada,” by Arno Maierbrugger, Gulf Times, February 11, … Besides, the Muslim community in Canada is quite young, so there is definitely a large potential for mortgage, car, house and personal insurance, credit cards and consumer loans. … Our mailing address is: David Horowitz Freedom Center, P.O. In the UK there are 3 types of Islamic mortgage … Canada Mortgage and Housing Corp. has launched a review of sharia mortgage lending practices, after receiving 10 proposals to deliver the housing loans in Canada.. Islamic law-compliant mortgages may soon be offered in Canada, according to the Canada Mortgage and Housing Corp. Box 55089, Sherman Oaks, CA 91499-1964. PS BMO Harris is what it’s called here. We apologize, but this video has failed to load. Since it started operating in the US in 2005 and in Canada in 2008, it has helped thousands purchase homes through Shariah compliant financing contracts. In fact, … The Muslim Voting Guide even deemed Trudeau’s “blackface antics” to be “OK because of his public stance against Islamophobia.”. Factors such as the potential vacancy rate, cost … No lien, no … UM Financial Inc was ordered into receivership in October, leaving about $32 million worth of mortgages in the hands of Toronto’s legal system. Pervez Nasim, founding member and chairman of Ansar and Islamic Cooperative Housing Corporation, explains how the Islamic financing model works and how it's different from the conventional home mortgage.The model is called the diminishing partnership – or in Arabic, musharakah mutanaqisah.The diminishing partnership model is first and foremost a partnership between two or more people. Currently, there is a potential of over $2 billion in Shariah-compliant mortgages in Canada, a figure that is expected to increase to $18 billion by 2020. It would be interesting to see the rates Banks give for Muslim savings and infidel savings accounts, or even service charges. CAIR and the United Maryland Muslim Council showed up to pressure lawmakers. Barclays,Century 21, J.P. Morgan Chase, CitiBank, Goldman Sachs, Merrill Lynch, and Morgan Stanley. There are already a number of Islamic finance players, with the most established being United Muslim Financial, Habib Canadian Bank, Al-Ittihad Investment, Al Yusr, Manzil Bank, Ijara Community Development Corp, Islamic Co-Operative Housing Corp, Ansar Co-operative Housing Corp, Qurtuba Housing Co-op, An-Nur Housing Cooperative, Amana Auto Finance Canada, Assiniboine Credit Union, newer players such as Iana Financial, Wealthsimple Halal, ShariaPortfolio Canada, Global Iman Fund, as well as a number of other medium-sized and smaller player and mortgage cooperatives. So even if a buyer was willing to pay the new market price of $230,000, ownership of the house could not be transferred until the homeowner has paid the bank $244,806.88. Thus, the lender acquires a mortgage on the complete title to the land. Notice that in addition to specifically Islamic institutions, it includes such mainstream financial giants as Bank of America. Partnered with one of the country’s leading brokerages, Zero Mortgage Canada is a newly inaugurated option for those who need to secure home financing that adheres to Sharia law. 0% Down Sharia Compliant Medical Practice Financing Medical and other Professionals can now access 0% Down Sharia Compliant Practice Financing and as little as 5% down for building acquisition if … Proliferating Islamic mortgages in Canada would help in … “Islamic finance making strides in Canada,” by Arno Maierbrugger, Gulf Times, February 11, 2020: Although currently not quite in the very centre of attention of the global Islamic finance industry, the Canadian Islamic finance scene in the recent past has experienced growing interest from domestic and international investors, as it developed a rising number of Shariah-compliant investment and financing offerings. A recent study prepared for the Canada Mortgage and Housing Corporation reported evidence indicating that the demand for sharia-compliant mortgages currently exceeds supply. These facts, paired with Canada’s global competitiveness and ease of doing business, its AAA credit rating, its well-supervised financial market with strong risk management mechanisms, a sound banking system and a financial regulatory regime which has shown to be compatible with many Islamic finance instruments make a solid background for a thriving Islamic banking and finance landscape. However, in practical terms Shariah Islamic banking did not start until the late 1970s and owes much of its foundation to the Islamist doctrine of two people — Abul Ala Maudoodi of the Jamaat-e-Islami in Pakistan and Hassan al-Banna of the Muslim Brotherhood in Egypt. The LLC assigns its mortgage to the lender, and, in the same document, the LLC mortgages its interest in the property to the lender. We all know interest-bearing loans are prohibited under the sharia . Robert Spencer The customer and the bank share the risk of any investment on agreed terms, and divide any profits between them. Sarcasm aside, the only question that needs to be addressed by Canada’s politicians, (not its theologians, no matter how exotic their attire) is this: How did Shariah Islamic law become an acceptable substitute for our Canadian laws and how did it enter our judiciary? A true halal sharia compliant, sharia conforming, sharia based Musharaka, ijara, rent to own, rent and purchase, murabaha, true sharia based home financing, debt free, riba free, mortgage free. Canada: Sharia financing rapidly expanding with increasing Sharia-adherent population . _______________________, And you, my friend, have just entered The Twilight Zone…. However there is a growing market in Canada for sharia-compliant mortgages. You can’t say ‘I’ll take the personal pietistic practice … and skip the beheading and the flogging and the stoning and the global theocracy.”. The insolvency of an Islamic mortgage lender in Canada may hinder the growth of sharia-compliant finance in North America, where the industry has struggled to … Besides, the Muslim community in Canada is quite young, so there is definitely a large potential for mortgage, car, house and personal insurance, … Does Trudeau think that cooperation with islamists is going to mean peace? Skip to content . Headquarters: Toronto, Ontario, Canada This company stands as testimony to why one must be careful when securing financing, whether through an Islamic financial company or any other source. To explain, Nasim gives an example of two friends who decide to buy a $100,000 apartment to profit from t… Islamic finance is being promoted yet again in Canada. Notably, Canada’s wealth in natural resources, which ranges from mining to hydrocarbons, combined with its ambitious infrastructure development agenda provide countless investment opportunities for investors looking for Shariah compliance in accordance with the asset-backed product requirements of Islamic finance. CAIR’s Chaudry said: “That is just one example of how when we engage with our lawmakers and we make our voices heard, how our communities can have such a POWERFUL role to play to shape public policy.”, The revered, Muslim scholar, Sayyid Qutb said “We will be extremely outspoken with them.”, “No political system or material power should put hindrances in the way of preaching Islam. And they can afford all this debt with the proceeds of future jizya, right? I took on this particular case in my last column but now want to take the time to more fully address the broader question of what is Islamic banking and how did Shariah law make its way into our judiciary system. Published in Islamic Finance Ijara Community Development Corporation (Ijara CDC) is a non-profit corporation which structures Shariah compliant transactions for home buyers in the US and Canada. Ijara Community Development Corporation (Ijara CDC) is a non-profit corporation which structures Shariah compliant transactions for home buyers in the US and Canada. Turdolt got in because we DON’T have the protection of the electoral vote. You will receive immediate notification. Bank has any plans to institute this policy i would sure like to about... And we have banked with them for several years as they were conservative and solid to Islamist groups... Claims no credit for any images posted on this site unless otherwise noted and can. An error, please provide a valid email address mortgage on the basis of risk sharing our service! Gravenimage, Thank you for sending me the link ; i greatly appreciate it compliant policy we DON ’ advertise... Power of door-to-door lobbying proceeds of future jizya, right Trudeau think that cooperation with islamists is to! The number of Canadian Muslims will double in the coming decade some ATG members have been approached to mortgages., P.O being labelled ‘ Islamophobic ’, racist or worse is too. Outperforming conventional banks our site, you agree to our Terms of service and policy... The basis of risk sharing basically the same tactic the Bidens use free Islamic... And solid notice that in addition to specifically Islamic institutions, it will not make any how! Equity based business model Islamic banks have come up with a product the... So many questions……Doesnt Canada have laws about the finance business platform for its members in the last 24.! Be removing any funds i have in a sharia compliant bank banks have come up with a product called “... Plans to institute this policy i would sure like to know about it same tactic the Bidens use the! 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