EQRAZ is actually happy to offer you halal a mortgage compliment of its 100% Shariah- and AAOIFI-certified month-to-month Murabaha financial product. EQRAZ’s Murabaha home loan lets consumers to shut its home loan any kind of time date by paying out of just the kept dominating and you will around about three months off finances because a charge. Title belongs in order to you, bringing assurance that the home is it is a. EQRAZ’ resources of investment try 100% halal, acquired owing to Shariah-certified, AAOIFI-agreeable Wakala Agreements. The audience is fully funded, and you can earnestly issuing mortgage loans in this four working days of software inside across very provinces. Mouse click less than for more information.
The building blocks for Islamic Financing
During the , with my about three youngsters broadening up, my partner and i chose to flow back again to Canada off Qatar, where we’d resided given that 2007. Centered on my earlier organization and you will instructional feel, I’d wished to initiate a management asking company. not, once i started initially to create my personal system during the Canada, I came across the idea of halal mortgages, together with lack of these all over the country. Being Muslim, and having stayed more than good ic finance keeps growing within an enthusiastic unmatched rate, which piqued my personal desire, and i also chose to search towards getting Shariah-compliant mortgages so you’re able to Canadian a residential property people.
Adopting the six months from extensive lookup and you can all those group meetings that have Canadian real-estate, mortgage, financial and you may economic properties experts, I discovered that Canadian economic and regulating environment is ready having demands facing Islamic financing opportunities. Since the a great Muslim, an entrepreneur, but most notably a household people seeking a different sort of family during the Canada, I decided to accept the situation of making halal mortgage loans offered at scale getting my other Canadian Muslims. Canada’s step 1.6 billion Muslims show 400,000 properties who, thus far, use up all your the means to access organization-stages Shariah-compliant resource. Additionally, my studies have confirmed that many of such Muslims were subjects from malpractice and possibly even ripoff at the hands of opportunists seeking create profits within this industry.
Having God’s elegance, following the four a lot of time many years of performs, i approved the first halal home loan on 30th , and also have awarded even more due to the fact! We really accept that is the solution to Canada’s Islamic family-capital pressures, and that i pray one EQRAZ’s offering suits towards the fulfillment away from my personal fellow Canadian Muslims.
An Engineer’s look at Islamic Loans
Which have spent loans in Phil Campbell going back 15 years inside build and you may oils & fuel functions from inside the Qatar, the situation out of Islamic funds for the a western financial design reminds me of a beneficial cofferdam an enclosure created in this a body from h2o to allow the brand new enclosed area are pumped aside. It moving brings a dried out working environment therefore, the work is possible safely. Cofferdams can be useful for framework or repair out of long lasting dams and, if you ask me, the newest example looks suitable.
The sea signifies the world of focus-oriented money that people reside in, the brand new cofferdam means the newest apparently small yet increasing Islamic financing community, while the action out-of putting h2o outside of the cofferdam represents the brand new operate out of really-prepared Islamic financial gurus so you’re able to purify and expand Islamic funds of the increasingly deleting the rest old-fashioned loans points from the inside the newest Islamic funds community.
Just like good cofferdam, carrying out a space having Islamic financing to expand necessitates the ability so you can while doing so keep principles of Shariah-compliance when you find yourself working inside Canadian legislation and you will after the laws of your own house in terms of it is possible to versus breaking Islamic principles. It is really not the end condition however, one step on a journey on the a scene instead of riba.
Because the an engineer, a keen actuary, and you can an exercising Muslim, We want to fill in me personally into the maximum requirements of elite make, openness and you will God-fearing sincerity from this journey, and that i look forward to my fellow Canadian Muslims signing up for myself on this subject trip.
Tale Behind Our Representation
This new EQRAZ symbol is designed because the an enthusiastic seven-sided Scrub-el-Hizb, and additionally knows because Islamic Star, that is a valuable Islamic icon that has been regularly help in the fresh recitation of one’s Qur’an and you may, therefore, seen as an essential part out-of a beneficial Muslim’s day-to-time existence. It is reported that ???? , this new Arabic phrase for green, can be used in various forms seven moments throughout the Holy Quran so you’re able to show this new seven doors so you’re able to Jannah (heaven), which happen to be likewise illustrated because of the eight sides of one’s Scrub-el-Hizb.
During the shape, EQRAZ is created inside the ancient Kufic script commonly used inside the Islamic functions, that have characters made out of straight lines and you may proper basics. Mathematical and you can square Kufic shapes was in fact commonly used into the Islamic tissues. With this particular Kufic style inside the EQRAZ’s expression partners brand new EQRAZ brand name that have Islamic architecture otherwise, told you one other way, Islamic housing EQRAZ’s primary company.
The new logo plus means EQRAZ’s purpose in order to heed each other to help you Shariah and you may Canadian legislation and you may integrity without the twists, converts or compromises. Said another way, EQRAZ would-be straight-forward and transparent featuring its website subscribers, rating compliance that have Shariah conditions right, and you will appeal to the customers’ trust and sensitivities.
Finally, the latest navy-blue shade of brand new image means breadth, assistance and balances. Which characterizes the caliber of people and you may infrastructure EQRAZ features assembled to add its website subscribers featuring its halal financial support points.