EQRAZ are happy to provide you with halal a mortgage courtesy it is 100% Shariah- and you can AAOIFI-compliant monthly Murabaha mortgage tool. EQRAZ’s Murabaha home loan lets customers to close off the home loan at any big date if you are paying regarding just the leftover prominent and you may around about three days out of money due to the fact a charge. Label belongs just to your, delivering reassurance that the residence is it is yours. EQRAZ’ resources of funding was 100% halal, received using Shariah-specialized, AAOIFI-certified Wakala Plans. americash loans Pine Apple We have been completely funded, and definitely providing mortgages contained in this four working days of app inside the across the very provinces. Mouse click lower than to learn more.
The foundation getting Islamic Financing
Inside the , with my around three children increasing right up, my spouse and i chose to flow back again to Canada away from Qatar, in which we’d existed given that 2007. Predicated on my personal earlier in the day business and you may academic sense, I experienced desired to begin a management asking company. Although not, whenever i started initially to build my personal circle inside Canada, I found the idea of halal mortgages, and also the dearth of them across the country. Getting Muslim, and achieving lived more than good ic funds continues to grow within an enthusiastic unmatched rate, so it piqued my personal attention, and i also made a decision to search on the bringing Shariah-compliant mortgages so you can Canadian a home people.
Adopting the 6 months from thorough lookup and you will dozens of meetings with Canadian real-estate, mortgage, banking and you will economic properties gurus, I came across that the Canadian monetary and you may regulatory ecosystem is mature which have pressures against Islamic loans ventures. While the an effective Muslim, an entrepreneur, but most significantly children individual seeking another type of household in the Canada, I decided to deal with the trouble of creating halal mortgage loans offered at measure having my other Canadian Muslims. Canada’s 1.six billion Muslims portray 400,000 property who, yet, lack use of organization-levels Shariah-agreeable financial support. Also, my personal studies have verified a large number of such Muslims were subjects out-of malpractice and possibly also ripoff at the hands of opportunists looking to build payouts contained in this world.
With God’s grace, after the four a lot of time many years of really works, i provided our earliest halal financial to the 30th , and also granted numerous since! We really believe that here is the answer to Canada’s Islamic family-financial support challenges, and that i pray one to EQRAZ’s providing fits towards fulfillment away from my personal fellow Canadian Muslims.
An enthusiastic Engineer’s look at Islamic Money
Having invested during the last 15 years into the structure and you will oil & gasoline qualities inside the Qatar, the challenge of Islamic finance within the an american banking design reminds myself away from a beneficial cofferdam an enclosure mainly based within this a human anatomy of liquid so that the latest shut area become pumped aside. This pumping creates a dried out doing work ecosystem therefore the really works can be carried out properly. Cofferdams are commonly useful design or resolve of long lasting dams and you may, in my opinion, the brand new example appears appropriate.
The sea means the world of desire-created financing that individuals inhabit, new cofferdam stands for the latest seemingly small yet , growing Islamic financing business, together with step of moving water outside of the cofferdam signifies the newest efforts out of better-prepared Islamic monetary benefits to purify and you will expand Islamic finance by the more and more removing the remaining antique fund issues from the inside the new Islamic financing business.
Just like a beneficial cofferdam, performing a space for Islamic money to expand requires the feature in order to while doing so keep beliefs away from Shariah-conformity while performing inside Canadian legislation and pursuing the laws and regulations of your own home as much as you’ll be able to in place of cracking Islamic values. It is really not the conclusion county but one step on a journey into a world in the place of riba.
Once the a professional, a keen actuary, and a training Muslim, I decide to fill in me for the highest possible standards of elite run, openness and you can God-dreading sincerity through this travels, and i look forward to my other Canadian Muslims signing up for me personally about this excursion.
Tale Behind Our very own Symbol
The EQRAZ logo is created given that an seven-sided Wipe-el-Hizb, along with knows since Islamic Superstar, that is an invaluable Islamic symbol which was accustomed assist in the fresh recitation of one’s Qur’an and you may, as such, recognized as a significant part out-of good Muslim’s big date-to-time life. Its reported that ???? , the fresh Arabic phrase having green, is utilized within the different forms eight times regarding the Holy Quran so you can represent the latest eight doorways to help you Jannah (heaven), being likewise illustrated from the eight corners of the Scrub-el-Hizb.
Inside contour, EQRAZ is created within the old Kufic script widely used for the Islamic functions, having emails produced from upright traces and correct bases. Mathematical and you can square Kufic molds were popular inside Islamic structures. Using this Kufic concept into the EQRAZ’s expression associates the latest EQRAZ brand having Islamic tissues otherwise, told you one other way, Islamic housing EQRAZ’s finest providers.
The fresh sign plus represents EQRAZ’s purpose so you can stick to each other to Shariah and you will Canadian legislation and you will integrity without any twists, transforms otherwise compromises. Told you another way, EQRAZ is straight-forward and you can transparent using its members, rating conformity which have Shariah requirements right, and you can interest our customers’ faith and sensitivities.
Finally, the navy-bluish color of the fresh new icon signifies breadth, expertise and you will stability. It characterizes the caliber of the people and you will infrastructure EQRAZ have come up with to include its subscribers along with its halal capital things.