EQRAZ is actually very happy to offer you halal home financing through it is 100% Shariah- and AAOIFI-certified month-to-month Murabaha mortgage tool. EQRAZ’s Murabaha home loan lets people to close their home loan any kind of time go out if you are paying away from only the remaining principal and you will around around three days off earnings once the a fee. Term belongs merely to your, taking satisfaction that your residence is truly your very own. EQRAZ’ sources of financing try 100% halal, acquired courtesy Shariah-official, AAOIFI-compliant Wakala Arrangements. We’re totally funded, and you will positively issuing mortgages contained in this five working days from app within the across extremely provinces. Click below to find out more.
The foundation to have Islamic Money
In the , using my about three children broadening up, my wife and i decided to circulate to Canada away from Qatar, where we’d existed because the 2007. Considering my earlier team and you will instructional sense, I’d desired to begin a control contacting organization. Yet not, whenever i began to write my community inside the Canada, I found the very thought of halal mortgage loans, while the dearth of them all over the country. Becoming Muslim, and having stayed more than good ic fund keeps growing within an unprecedented price, which piqued my personal attention, and i chose to start looking to the taking Shariah-certified mortgage loans to Canadian a residential property people.
After the six months from comprehensive browse and you will those conferences which have Canadian real-house, mortgage, financial and you can financial features pros, I ran across your Canadian economic and you will regulatory environment is ready having demands facing Islamic fund ventures. Because the a beneficial Muslim, a business owner, but most importantly a family group person seeking an alternate home into the Canada, I decided to undertake the situation of developing halal mortgages available at level having my personal fellow Canadian Muslims. Canada’s 1.six billion Muslims portray 400,000 properties who, thus far, lack the means to access institutional-stages Shariah-certified financial support. Additionally, my personal research has affirmed a large number of this type of Muslims have been subjects from malpractice and perhaps actually scam at the hands of opportunists trying to generate payouts inside industry.
With God’s grace, following the five a lot of time years of work, i granted the first halal financial into 30th , as well as have approved many others just like the! I really accept that here’s the response to Canada’s Islamic domestic-financing demands, and i also hope that EQRAZ’s giving matches towards pleasure from my other Canadian Muslims.
An enthusiastic Engineer’s look at Islamic Financing
Having invested during the last 15 years when you look at the structure and petroleum & gasoline properties during the Qatar, the situation off Islamic financing in the an american financial design reminds me out-of a beneficial cofferdam an enclosure depending within this a body away from liquids to let the latest shut area getting moved out. So it working produces a dried out functioning environment so that the really works can be carried out securely. Cofferdams are generally used in structure or resolve off long lasting dams and, to me, the analogy seems suitable.
The sea stands for the realm of attention-situated loans that individuals inhabit, the new cofferdam represents the brand new relatively small but really growing Islamic finance community, therefore the step from putting liquids out from the cofferdam is short for new operate out-of better-prepared Islamic economic masters so you can cleanse and you will grow Islamic money by the progressively removing the rest antique financing aspects from the inside the Islamic fund industry.
Just like a good cofferdam, starting a gap for Islamic fund to enhance necessitates the function to help you concurrently continue prices out-of Shariah-compliance when you find yourself functioning inside Canadian laws and regulations and you will pursuing the laws of your residential property as much as possible instead of breaking Islamic beliefs. It’s not the conclusion condition but one step on a holiday into the a world without riba.
As a professional, an actuary, and you may an exercising Muslim, I propose to fill out me towards the highest possible conditions off elite run, visibility and Goodness-dreading sincerity from this journey, and i look ahead to my personal other Canadian Muslims signing up for myself on this subject trip.
Facts At the rear of All of our Expression
The new EQRAZ icon is made as the an enthusiastic seven-sided Scrub-el-Hizb, and additionally understands because the Islamic Superstar, that is an important Islamic symbol which had been always assist in the brand new recitation of one’s Qur’an and, as such, named a significant part out of a great Muslim’s date-to-date lifetime. Its reported that ???? , the latest Arabic term to have green, is employed in its different forms 7 minutes about Holy Quran so you’re able to show new 7 doors to Jannah (heaven), that are furthermore portrayed of the seven edges of one’s Rub-el-Hizb.
From inside the figure, EQRAZ is created when you look at the ancient Kufic program popular from inside the Islamic performs, with emails created from straight outlines and you can proper basics. Geometric and you may rectangular Kufic molds was indeed popular in the Islamic tissues. With this specific Kufic design inside the EQRAZ’s representation lovers brand new EQRAZ brand name that have Islamic tissues or, told you another way, Islamic housing EQRAZ’s perfect business.
Brand new sign as well as is short for EQRAZ’s intent in order to stick to one another so you’re able to Shariah and Canadian guidelines and you can integrity without having any twists, turns otherwise compromises. Said one other way, EQRAZ could be straight-forward and you will transparent along with its subscribers, get compliance with Shariah criteria right, and you will attract our very own customers’ believe and you can sensitivities.
Eventually, this new navy-bluish colour of the fresh logo means breadth, options and you will balance. So it characterizes the quality of the people and you may system EQRAZ has actually come up with to include their readers along with its halal financial support things.