EQRAZ was thrilled to offer you halal a home loan owing to it’s 100% Shariah- and AAOIFI-agreeable monthly Murabaha home loan device. EQRAZ’s Murabaha financial lets people to close the mortgage any kind of time go out american cash loans Saraland AL by paying out of just the kept principal and just as much as around three days regarding finances as the a fee. Label belongs just to your, providing comfort that your house is its your very own. EQRAZ’ sourced elements of investment try 100% halal, received due to Shariah-specialized, AAOIFI-agreeable Wakala Plans. We have been fully funded, and positively issuing mortgages in this five working days out of app in the all over extremely provinces. Mouse click less than to find out more.

The foundation having Islamic Fund

When you look at the , with my about three students expanding upwards, my partner and i decided to circulate back once again to Canada of Qatar, in which we’d existed because 2007. According to my personal earlier team and you may instructional experience, I experienced desired to start a control contacting organization. But not, while i started initially to build my circle during the Canada, I found the idea of halal mortgage loans, as well as the lack of those all over the country. Being Muslim, and achieving resided over a ic money continues to grow at the an enthusiastic unprecedented price, this piqued my personal focus, and that i decided to begin looking for the providing Shariah-agreeable mortgages in order to Canadian a residential property buyers.

Pursuing the half a year out-of comprehensive research and dozens of meetings having Canadian real-property, financial, financial and you can economic features professionals, I realized your Canadian monetary and you can regulatory ecosystem is mature which have demands up against Islamic funds possibilities. Since a Muslim, operator, but the majority significantly children people looking for an alternative domestic inside the Canada, I thought i’d take on the situation of creating halal mortgage loans available at measure having my personal fellow Canadian Muslims. Canada’s step 1.six million Muslims show 400,000 properties exactly who, up to now, use up all your usage of organization-degrees Shariah-certified money. More over, my personal research has affirmed a large number of these Muslims were sufferers out-of malpractice and perhaps actually scam as a result of opportunists looking to generate winnings contained in this globe.

Having God’s sophistication, following the four a lot of time several years of really works, we issued the basic halal home loan into the 30th , and possess awarded many more as the! I sincerely believe that here is the solution to Canada’s Islamic family-resource challenges, and that i pray one to EQRAZ’s providing meets to the fulfillment away from my fellow Canadian Muslims.

An Engineer’s view of Islamic Financing

That have spent for the past 15 years during the build and you may petroleum & fuel services for the Qatar, the trouble out-of Islamic funds when you look at the a western banking model reminds me personally away from good cofferdam an enclosure situated within this a body out of h2o to allow the brand new enclosed city become moved out. This working brings a dry working ecosystem so the functions is possible securely. Cofferdams can be used in build or fix from permanent dams and you may, in my experience, brand new example seems suitable.

The ocean signifies the field of focus-oriented fund that we inhabit, the new cofferdam stands for the fresh relatively small but really expanding Islamic financing world, as well as the step regarding working h2o out from the cofferdam is short for brand new efforts out-of really-wishing Islamic financial gurus so you’re able to cleanse and you will develop Islamic fund by more and more deleting the remainder antique money issue from inside the latest Islamic money world.

Identical to a good cofferdam, performing a gap to own Islamic financing to expand necessitates the function to concurrently continue values away from Shariah-compliance if you’re performing within this Canadian legislation and pursuing the guidelines of land as far as possible rather than cracking Islamic prices. It isn’t the conclusion county however, a step on vacation into a scene without riba.

Because the an engineer, an actuary, and you may a practicing Muslim, We want to complete me toward maximum standards out of elite group conduct, visibility and you will God-dreading trustworthiness by this excursion, and that i enjoy my other Canadian Muslims joining me personally on this excursion.

Facts At the rear of Our very own Symbol

The new EQRAZ representation is designed as the an seven-sided Wipe-el-Hizb, including understands while the Islamic Superstar, which is an invaluable Islamic symbol that has been familiar with help in brand new recitation of the Qur’an and you may, therefore, named an essential part out of a Muslim’s day-to-go out lives. Its reported that ???? , the fresh Arabic word having green, is employed within the different forms eight moments regarding the Holy Quran so you can portray the fresh new seven doors so you can Jannah (heaven), which can be also illustrated of the 7 edges of the Rub-el-Hizb.

Within the profile, EQRAZ is created when you look at the old Kufic software popular in Islamic work, which have letters made out of upright lines and you will correct angles. Mathematical and square Kufic molds was basically commonly used inside Islamic architecture. With this specific Kufic design in EQRAZ’s logo partners the EQRAZ brand name having Islamic frameworks otherwise, said one other way, Islamic housing EQRAZ’s perfect providers.

This new representation together with represents EQRAZ’s intent so you’re able to stick to one another to Shariah and you can Canadian legislation and you may ethics without the twists, converts otherwise compromises. Said another way, EQRAZ might possibly be straight-forward and you can transparent having its readers, get compliance with Shariah requirements right, and attract the customers’ believe and sensitivities.

Ultimately, brand new navy-blue colour of brand new representation is short for depth, options and you can balances. So it characterizes the caliber of individuals and you can infrastructure EQRAZ has actually make to add their members with its halal resource issues.