EQRAZ are happy to give you halal a home loan as a result of it is 100% Shariah- and AAOIFI-compliant month-to-month Murabaha mortgage equipment. EQRAZ’s Murabaha financial allows users to shut their home loan at any time by paying of only the kept dominating and you may up to around three months out of earnings because a fee. Title belongs only to you, getting peace of mind that your particular house is really your very own. EQRAZ’ resources of capital was 100% halal, acquired as a consequence of Shariah-certified, AAOIFI-agreeable Wakala Arrangements. We have been completely funded, and you can earnestly issuing mortgages within this five working days out-of software for the around the most provinces. Mouse click below to find out more.

The foundation getting Islamic Finance

Inside , using my three youngsters growing upwards, my spouse and i decided to flow back to Canada off Qatar, in which we had resided because 2007. Predicated on my personal earlier organization and you may instructional feel, I got planned to initiate an administration asking providers. Although not, whenever i began to generate my circle in the Canada, I discovered the notion of halal mortgages, as well as the scarcity of those across the country. Being Muslim, and achieving existed over a great ic financing keeps growing within a keen unmatched price, that it piqued my attention, and i decided to start to look on the providing Shariah-agreeable mortgage loans so you can Canadian real estate consumers.

Following half a year off thorough search and you will dozens of group meetings having Canadian actual-home, mortgage, banking and you may financial functions advantages, I ran across that Canadian economic and regulating environment are mature which have pressures up against Islamic funds opportunities. Due to the fact a good Muslim, operator, but most notably children people selecting a special domestic inside the Canada, I decided to undertake the situation of making halal mortgages available at scale to have my personal fellow Canadian Muslims. Canada’s step 1.six billion Muslims represent 400,000 house exactly who, thus far, use up all your access to organization-degrees Shariah-certified funding. More over, my studies have confirmed that many of these Muslims was in fact subjects off malpractice and maybe also fraud at the hands of opportunists trying to make profits in this business.

Having God’s sophistication, after the five long several years of really works, i granted the first halal financial towards 30th , and have now approved additional because! I sincerely accept that let me reveal the solution to Canada’s Islamic home-money challenges, and i pray you to definitely EQRAZ’s providing suits into fulfillment out-of my personal fellow Canadian Muslims.

An Engineer’s look at Islamic Money

Which have spent for the last 15 years inside construction and you may oils & energy features into the Qatar, the trouble out-of Islamic financing within the a western banking design reminds me personally out-of a cofferdam an enclosure depending inside a human anatomy of liquids to allow brand new sealed area to-be moved aside. So it pumping creates a dried out working ecosystem therefore, the works can be achieved safely. Cofferdams are generally utilized for framework or fix regarding long lasting dams and you may, in my experience, the analogy looks suitable.

The sea is short for the industry of focus-built loans we reside in, the cofferdam signifies the new relatively small but really increasing Islamic financing globe, and the step regarding pumping h2o out of the cofferdam stands for this new jobs from well-waiting Islamic economic pros so you’re able to purify and you may expand Islamic financing because of the progressively deleting the remainder traditional funds points from the inside the fresh Islamic fund business.

Identical to a good cofferdam, doing a gap having Islamic funds to grow requires the feature to on top of that remain principles regarding Shariah-conformity while doing work inside Canadian legislation and you may following legislation of your belongings in terms of you can easily rather than cracking Islamic beliefs. It is really not the end county however, one step on a holiday to the a world instead riba.

While the an engineer, an actuary, and you can an exercising Muslim, I decide to submit me personally towards maximum requirements away from elite conduct, visibility and you will God-dreading sincerity from this trip, and i also anticipate my fellow Canadian Muslims joining myself with this excursion.

Story About All of our Representation

The latest EQRAZ symbolization was created since an eight-sided Wipe-el-Hizb, and additionally knows due to the fact Islamic Superstar, that’s an invaluable Islamic icon that has been familiar with assist in the brand new recitation of Qur’an and you can, therefore, recognized as an important part of a beneficial Muslim’s day-to-date lifestyle. Its stated that ???? , the newest Arabic keyword having green, is utilized in various forms seven minutes regarding Holy Quran to represent new eight doors so you can Jannah (heaven), being likewise depicted because of the seven corners of your Scrub-el-Hizb.

For the shape, EQRAZ is written when you look at the ancient Kufic software popular into the Islamic really works, with characters created from upright outlines and correct basics. Mathematical and you may square Kufic shapes was in fact commonly used during the Islamic buildings. Using this Kufic concept within the EQRAZ’s symbol lovers the brand new EQRAZ brand name that have Islamic structures or, told you another way, Islamic housing EQRAZ’s finest providers.

The fresh new signal together with is short for EQRAZ’s intent to adhere one another in order to Shariah and you can Canadian rules and you may stability without the twists, transforms or compromises. Said another way, EQRAZ might be straight-forward and clear having its customers, get conformity which have Shariah standards right, and you will attract our customers’ believe and you can sensitivities go to the website.

Fundamentally, this new navy-blue colour of the newest image signifies breadth, systems and stability. That it characterizes the caliber of people and you may infrastructure EQRAZ have built to include its customers with its halal financing circumstances.