EQRAZ is thrilled to present halal home financing as a consequence of its 100% Shariah- and you may AAOIFI-certified month-to-month Murabaha home loan product. EQRAZ’s Murabaha mortgage allows consumers to close the financial at any time by paying out-of precisely the leftover dominant and you may just as much as about three months off finances due to the fact a charge. Identity belongs merely to your, bringing assurance that your house is it’s yours. EQRAZ’ types of financing is 100% halal, acquired owing to Shariah-certified, AAOIFI-certified Wakala Plans. We are fully funded, and you may positively giving mortgages inside four business days out-of software inside the all over extremely provinces. Simply click less than for more information.
The building blocks getting Islamic Fund
From inside the , using my around three college students growing upwards, my wife and i decided to move back to Canada regarding Qatar, in which we had resided since 2007. Based on my personal prior organization and you may informative feel, I experienced planned to start a management contacting organization. But not, as i started initially to create my personal network inside the Canada, I discovered the notion of halal mortgages, therefore the lack of these across the country. Getting Muslim, and having lived over a great ic fund continues to grow within an unprecedented rate, it piqued my personal notice, and i decided to start to look with the bringing Shariah-compliant mortgages so you can Canadian a property buyers.
After the 6 months away from extensive search and you may dozens of group meetings that have Canadian genuine-house, mortgage, financial and you will monetary functions professionals, I came across that Canadian monetary and regulatory ecosystem is actually mature having demands up against Islamic money opportunities. Since the an excellent Muslim, an entrepreneur, but most notably a family person trying to find a special household during the Canada, I thought i’d take on the problem of making halal mortgage loans offered at measure having my other Canadian Muslims. Canada’s 1.six billion Muslims show eight hundred,000 property exactly who, up to now, run out of access to organization-degrees Shariah-compliant money. Moreover, my personal research has verified a large number of such Muslims was indeed sufferers away from malpractice and perhaps actually scam at the hands of opportunists looking to make profits in this globe.
With God’s grace, following four a lot of time many years of performs, we granted all of our very first halal mortgage into 30th , and also have granted additional because the! We sincerely believe that here is the response to Canada’s Islamic domestic-investment pressures, and i pray that EQRAZ’s providing meets on the pleasure out of my other Canadian Muslims.
An Engineer’s view of Islamic Financing
That have invested for the past 15 years in the construction and you can oil & energy characteristics within the Qatar, the trouble out-of Islamic financing within the a western banking design reminds me from a cofferdam a housing centered contained in this a body from drinking water so that the new shut area as pumped aside. This putting brings a dried out performing environment so the really works is possible securely. Cofferdams can be utilized for structure otherwise resolve out-of permanent dams and, if you ask me, brand new analogy looks suitable.
The sea stands for the industry of notice-built fund that people live-in, brand new cofferdam is short for the brand new apparently smaller but really increasing Islamic funds community, together with step of putting water from the cofferdam stands for this new jobs from well-wishing Islamic economic advantages in order to cleanse and you can build Islamic funds of the more and more removing the rest conventional funds facets from inside the Islamic fund world.
Identical to an effective cofferdam, performing a space getting Islamic money to enhance necessitates the ability in order to likewise keep principles out of Shariah-compliance while you are doing work contained in this Canadian regulations and following laws and regulations of the residential property as much as you’ll be able to without breaking Islamic principles. It isn’t the end state however, one step on a holiday into the a scene versus riba.
Since an engineer, an actuary, and you can a practicing Muslim, I plan to fill in myself with the maximum requirements off elite group carry out, openness and you may Goodness-dreading honesty by this excursion, and i also look forward to my other Canadian Muslims signing up for me personally on this subject travels.
Facts About Our Sign
The fresh new EQRAZ image is designed because a keen 7-sided Scrub-el-Hizb, along with knows while the Islamic Celebrity, that is a very important Islamic symbol which had been regularly help in brand new recitation of one’s Qur’an and you can, as a result, seen as a significant part off a good Muslim’s day-to-day existence. It is reported that ???? , brand new Arabic keyword to possess green, is employed in its different forms seven moments from the Holy Quran in order to depict brand new seven doorways to Jannah (heaven), which happen to be likewise depicted of the seven edges of your own Scrub-el-Hizb.
In the shape, EQRAZ is created when you look at the ancient Kufic software widely used within the Islamic work, with letters produced from straight lines and you may proper basics. Mathematical and you can square Kufic shapes have been popular in Islamic architecture. With this Kufic style inside EQRAZ’s signal associates the latest EQRAZ brand name that have Islamic structures or, said another way, Islamic housing EQRAZ’s prime providers.
New sign together with is short for EQRAZ’s purpose so you’re able to stick to one another in order to Shariah and you will Canadian rules and you can stability with no twists, turns or compromises. Told you one other way, EQRAZ would-be straight-forward and you can transparent with its customers, get conformity that have Shariah conditions right, and you can interest all of our loans in South Vinemont customers’ believe and you can sensitivities.
In the long run, this new navy-blue shade of the new symbolization stands for depth, systems and stability. That it characterizes the grade of individuals and you can infrastructure EQRAZ has put together to provide its clients along with its halal financial support affairs.
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