EQRAZ is thrilled to present halal home financing through it’s 100% Shariah- and you will AAOIFI-compliant monthly Murabaha financial unit. EQRAZ’s Murabaha home loan lets people to close its mortgage any kind of time date by paying from precisely the left dominant and you can around around three weeks out of cash because a fee. Title belongs only to you, getting peace of mind that home is its your. EQRAZ’ types of funding is actually 100% halal, obtained thanks to Shariah-official, AAOIFI-compliant Wakala Arrangements. We’re completely financed, and you may earnestly giving mortgages contained in this four working days away from application inside around the most provinces. Click lower than for more information.
The inspiration for Islamic Funds
Inside the , with my three people expanding right up, my wife and i made a decision to circulate back to Canada out of Qatar, where we had stayed due to the fact 2007. According to my personal earlier business and informative experience, I had wished to begin a control consulting company. not, once i began to develop my personal system when you look at the Canada, I found the idea of halal mortgages, therefore the scarcity of those nationwide. Becoming Muslim, and achieving existed more than a great ic finance keeps growing at the a keen unprecedented rates, it piqued my attract, and i made a decision to begin looking for the taking Shariah-certified mortgage loans to Canadian a house people.
Following 6 months out-of detailed browse and you may those group meetings that have Canadian actual-estate, home loan, banking and you may economic functions experts, I realized that Canadian financial and you can regulating environment is actually ripe which have challenges facing Islamic funds opportunities. Because the a good Muslim, an entrepreneur, but the majority notably a household person finding another house from inside the Canada, I decided to take on the difficulty of fabricating halal mortgage loans offered at level to own my other Canadian Muslims. Canada’s 1.six million Muslims represent 400,000 domiciles which, thus far, use up all your accessibility organization-levels Shariah-compliant investment. More over, my studies have verified that many of such Muslims was in fact subjects out-of malpractice and perhaps actually fraud at the hands of opportunists trying to generate payouts inside world.
Which have God’s grace, following the five much time years of works, we awarded all of our earliest halal home loan towards the 30th , while having granted additional just like the! I really accept that the following is the answer to Canada’s Islamic household-financing challenges, and i also pray one to EQRAZ’s offering match into satisfaction away from my personal other Canadian Muslims.
An Engineer’s view of Islamic Money
Which have invested the past fifteen years in structure and you can oil & energy properties inside Qatar, the situation off Islamic financing inside the a western financial model reminds me out-of a cofferdam an enclosure dependent inside a human anatomy from liquids to let the fresh closed city becoming pumped away. This pumping brings a dried out functioning ecosystem so the performs can be done safely. Cofferdams are commonly employed for design or fix out-of permanent dams and you will, in my opinion, the newest analogy seems suitable.
The ocean signifies the field of interest-created loans that individuals live-in, the new cofferdam is short for the newest apparently small yet expanding Islamic financing business, in addition to action from pumping drinking water out from the cofferdam means this new jobs away from really-wishing Islamic economic pros so you can cleanse and you may build Islamic funds because of the increasingly deleting the rest traditional fund factors from the inside the fresh new Islamic loans world.
Just like a good cofferdam, doing a space to possess Islamic fund to enhance requires the function to at exactly the same time continue values of Shariah-conformity while you are functioning in this Canadian laws and you may following regulations of one’s property as much as you’ll instead of breaking Islamic standards. It’s not the finish state but one step on a trip toward a scene versus riba.
As a professional, a keen actuary, and you will an exercising Muslim, I intend to fill in me on the maximum conditions away from professional perform, transparency and you may Jesus-fearing sincerity through this excursion, and i look forward to my other Canadian Muslims signing up for myself about travel.
Facts About Our very own Representation
The fresh new EQRAZ signal is made once the an seven-sided Scrub-el-Hizb, in addition to understands once the Islamic Celebrity, that’s a valuable Islamic symbol which had been familiar with aid in the brand new recitation of your Qur’an and you will, therefore, recognized as an essential part out of a good Muslim’s time-to-go out existence. It is stated that ???? , new Arabic keyword getting green, is utilized within the different forms eight minutes throughout the Holy Quran in order to portray the latest eight doors so you can Jannah (heaven), which are also depicted by the seven edges of one’s Scrub-el-Hizb.
During the profile, EQRAZ is written inside ancient Kufic program commonly used for the Islamic work, with letters produced from upright lines and you may correct basics. Mathematical and you can rectangular Kufic molds was commonly used in the Islamic architecture. With this specific Kufic build when you look at the EQRAZ’s symbolization lovers the fresh new EQRAZ brand which have Islamic frameworks or, told you one other way, Islamic housing EQRAZ’s best business.
Brand new sign as well as signifies EQRAZ’s intent so you’re able to adhere each other so you can Shariah and you can Canadian statutes and you will ethics with no twists, converts or compromises. Told you another way, EQRAZ was straight-forward and you may clear with its members, score compliance that have Shariah conditions right, and you may appeal to all of our customers’ faith and you will sensitivities.
Fundamentally, the newest navy-blue shade of the fresh new icon stands for breadth, expertise and you may stability. This characterizes the caliber of the individuals and system EQRAZ have assembled to include its clients Get More Information along with its halal resource activities.