EQRAZ are thrilled to offer halal a home loan due to it is 100% Shariah- and AAOIFI-certified month-to-month Murabaha home loan tool. EQRAZ’s Murabaha home loan lets users to shut their financial any kind of time time if you are paying of precisely the kept prominent and you can as much as around three weeks of finances since the a fee. Name belongs only to your, bringing assurance that your particular residence is it really is a. EQRAZ’ resources of financing was 100% halal, gotten using Shariah-authoritative, AAOIFI-certified Wakala Arrangements. We are completely funded, and you may positively issuing mortgage loans in this five business days out of app into the around the very provinces. Click less than to find out more.

The building blocks to have Islamic Fund

During the , with my around three college students increasing upwards, my www.paydayloanalabama.com/mount-vernon wife and i made a decision to move returning to Canada out-of Qatar, in which we had existed since the 2007. Considering my early in the day organization and you can educational sense, I had wished to initiate a control asking company. However, whenever i started to write my circle in Canada, I discovered the thought of halal mortgages, and the scarcity of them nationwide. Are Muslim, and achieving lived over an effective ic money is growing at a keen unmatched speed, that it piqued my appeal, and i also made a decision to start looking towards taking Shariah-agreeable mortgage loans to help you Canadian a home consumers.

Pursuing the six months regarding extensive look and you can dozens of group meetings that have Canadian genuine-estate, mortgage, financial and financial functions professionals, I discovered the Canadian monetary and regulatory environment was mature which have pressures facing Islamic funds options. While the a great Muslim, a business owner, but most significantly a household people wanting another family from inside the Canada, I thought i’d deal with the challenge of developing halal mortgage loans offered by scale to possess my personal fellow Canadian Muslims. Canada’s 1.6 billion Muslims portray 400,000 property exactly who, to date, run out of access to institutional-degrees Shariah-agreeable capital. More over, my personal research has verified a large number of these Muslims have been victims from malpractice and possibly also ripoff at the hands of opportunists trying to build profits contained in this globe.

That have God’s sophistication, following five much time years of really works, we issued the first halal mortgage into 30th , and also given even more as! We sincerely believe that let me reveal the answer to Canada’s Islamic domestic-resource pressures, and that i pray you to definitely EQRAZ’s providing suits with the satisfaction out of my personal other Canadian Muslims.

An Engineer’s view of Islamic Loans

With spent the past fifteen years during the structure and oils & fuel properties within the Qatar, the challenge off Islamic loans when you look at the a western financial design reminds me off a beneficial cofferdam an enclosure oriented inside a body of liquid so that the new enclosed urban area become moved aside. It pumping creates a dried out functioning environment therefore, the works is possible properly. Cofferdams are commonly used for design otherwise repair out of permanent dams and you can, in my opinion, the latest example looks appropriate.

The ocean represents the industry of desire-dependent loans that people live in, this new cofferdam signifies the apparently lightweight yet , growing Islamic fund globe, therefore the action out of moving liquid out of the cofferdam signifies the brand new work out of better-prepared Islamic monetary pros so you’re able to purify and you will expand Islamic fund of the progressively removing the remainder conventional fund issues from within the Islamic loans industry.

Same as an effective cofferdam, starting a gap getting Islamic loans to expand requires the ability to help you simultaneously keep values out-of Shariah-compliance if you are performing inside Canadian statutes and you will following laws and regulations of the home as much as possible in the place of cracking Islamic values. It isn’t the conclusion county however, a step on vacation into a scene instead riba.

While the an engineer, a keen actuary, and you can an exercising Muslim, We decide to complete me personally for the maximum criteria off top-notch conduct, openness and you can Jesus-dreading trustworthiness from this travels, and i look forward to my other Canadian Muslims signing up for me on this subject travels.

Story Trailing Our Icon

The latest EQRAZ expression is made because an enthusiastic eight-sided Wipe-el-Hizb, together with knows given that Islamic Star, that’s a very important Islamic icon which had been always help in brand new recitation of the Qur’an and you may, therefore, named an important part out-of a good Muslim’s big date-to-big date existence. Its stated that ???? , the new Arabic term getting green, is used in its different forms seven minutes regarding the Holy Quran to help you show brand new 7 doors so you can Jannah (heaven), being likewise represented because of the seven edges of your Scrub-el-Hizb.

In figure, EQRAZ is written into the ancient Kufic software widely used when you look at the Islamic works, that have emails made out of upright outlines and you may right basics. Mathematical and you may square Kufic molds was basically widely used into the Islamic architecture. With this specific Kufic design into the EQRAZ’s symbolization lovers the fresh EQRAZ brand having Islamic frameworks or, said one other way, Islamic housing EQRAZ’s primary organization.

The newest logo in addition to represents EQRAZ’s intention so you’re able to heed one another in order to Shariah and you may Canadian legislation and you may stability without any twists, transforms otherwise compromises. Said one other way, EQRAZ could be straight-forward and you can transparent using its website subscribers, rating conformity having Shariah standards right, and you may attract our customers’ believe and you may sensitivities.

Finally, the brand new navy-blue shade of this new representation stands for depth, options and you will balance. That it characterizes the standard of people and infrastructure EQRAZ have put together to add the subscribers having its halal funding circumstances.