EQRAZ is thrilled to present halal a mortgage courtesy it’s 100% Shariah- and you can AAOIFI-agreeable month-to-month Murabaha home loan device. EQRAZ’s Murabaha mortgage allows customers to close its financial any kind of time date if you are paying out of just the remaining dominating and as much as about three months away from finances while the a charge. Label belongs simply to your, taking satisfaction your home is really your own. EQRAZ’ resources of capital is actually 100% halal, obtained due to Shariah-formal, AAOIFI-certified Wakala Plans. We’re totally financed, and you may actively providing mortgages within four business days regarding application into the round the most provinces. Mouse click less than for more information.
The foundation to possess Islamic Financing
From inside the , with my around three students growing up, my partner and i decided to circulate back again to Canada off Qatar, where we had lived as the 2007. Based on my personal prior organization and you can informative experience, I had desired to start a management contacting team. But not, while i began to make my circle during the Canada, I discovered the very thought of halal mortgages, and lack of these nationwide. Getting Muslim, and achieving lived over an effective ic financing is growing in the an unprecedented price, it piqued my attention, and i decided to search towards taking Shariah-compliant mortgages in order to Canadian a house customers.
After the six months off thorough research and you will dozens of group meetings with Canadian genuine-estate, home loan, banking and you can economic properties pros, I realized that Canadian financial and you will regulating environment is actually ripe which have challenges against Islamic loans opportunities. While the a beneficial Muslim, an entrepreneur, but the majority notably a family group people looking a different sort of home during the Canada, I decided to accept the issue of creating halal mortgage loans available at measure getting my personal fellow Canadian Muslims. Canada’s step 1.six million Muslims show eight hundred,000 houses whom, yet, use up all your entry to organization-level Shariah-certified resource. Furthermore, my studies have confirmed a large number of such Muslims was in fact victims away from malpractice and possibly actually fraud as a result of opportunists looking to build winnings within this world.
That have God’s sophistication, adopting the four a lot of time numerous years of performs, i provided our very own first halal financial towards 30th , and have issued additional just like the! I really accept that here’s the response to Canada’s Islamic family-financial support demands, and that i pray one EQRAZ’s providing fits towards fulfillment from my personal other Canadian Muslims.
An enthusiastic Engineer’s look at Islamic Fund
With invested during the last 15 years during the build and you can petroleum & fuel attributes for the Qatar, the issue from Islamic funds into the a western financial model reminds me personally out of an excellent cofferdam a housing centered contained in this a human anatomy of h2o to allow this new sealed town becoming moved out. So it putting produces a dried out doing work ecosystem and so the works can be done securely. Cofferdams are commonly useful for build otherwise repair out-of permanent dams and you can, to me, this new example looks suitable.
The ocean means the world of appeal-dependent funds that individuals inhabit, the fresh cofferdam means this new seemingly small yet , expanding Islamic fund globe, as well as the step away from putting liquids out from the cofferdam means the latest perform off better-waiting Islamic financial pros so you’re able to purify and you can build Islamic fund by the more and more removing the remainder traditional financing facets from the inside the newest Islamic financing community.
Same as a beneficial cofferdam, starting a space to possess Islamic money to grow necessitates the ability so you’re able to in addition keep principles out of Shariah-conformity when you’re working within Canadian guidelines and adopting the statutes of your own property in terms of you can easily in the place of breaking Islamic values. It is far from the conclusion condition however, a step on essential hyperlink a holiday with the a scene instead riba.
Due to the fact an engineer, an actuary, and you can a practicing Muslim, I decide to fill in myself on the maximum criteria regarding elite group carry out, openness and you will Goodness-dreading sincerity by this excursion, and that i look ahead to my personal other Canadian Muslims joining me on this excursion.
Facts Trailing Our Logo
The EQRAZ icon is designed just like the an 7-sided Wipe-el-Hizb, as well as understands given that Islamic Star, which is a valuable Islamic icon which had been familiar with assist in the brand new recitation of one’s Qur’an and you will, as such, seen as an essential part out-of a great Muslim’s date-to-date existence. It is reported that ???? , the latest Arabic word to have green, is used in various forms 7 times regarding the Holy Quran so you’re able to represent the newest eight gates in order to Jannah (heaven), being also illustrated because of the 7 corners of the Scrub-el-Hizb.
From inside the figure, EQRAZ is created from inside the ancient Kufic software widely used inside the Islamic really works, with emails produced from straight contours and you can best basics. Geometric and square Kufic molds was indeed widely used inside Islamic architecture. With this Kufic layout during the EQRAZ’s symbolization lovers brand new EQRAZ brand name that have Islamic buildings or, said one other way, Islamic housing EQRAZ’s prime business.
The new expression including is short for EQRAZ’s intention in order to heed both so you’re able to Shariah and you may Canadian laws and you will stability without any twists, converts otherwise compromises. Said one other way, EQRAZ could be straight-forward and you can clear with its members, get conformity with Shariah conditions right, and you can interest all of our customers’ faith and you can sensitivities.
Fundamentally, this new navy-bluish shade of new sign stands for depth, solutions and you will stability. This characterizes the quality of the individuals and you will system EQRAZ provides developed to include the subscribers with its halal investment circumstances.
