EQRAZ try thrilled to present halal a mortgage compliment of its 100% Shariah- and you can AAOIFI-agreeable month-to-month Murabaha mortgage unit. EQRAZ’s Murabaha financial allows people to shut its financial any kind of time time if you are paying off just the kept prominent and everything three days off money once the a charge. Label belongs only to your, taking assurance your residence is it’s your own. EQRAZ’ types of resource was 100% halal, received as a result of Shariah-certified, AAOIFI-compliant Wakala Agreements. Our company is totally financed, and you may earnestly providing mortgage loans in this five business days out-of application inside the around the really provinces. Click less than for more information.

The inspiration getting Islamic Loans

In the , with my three pupils broadening up, my wife and i made a decision to disperse returning to Canada from Qatar, in which we’d stayed since the 2007. Considering my past team and academic experience, I had wished to begin a control consulting business. However, as i started initially to build my network into the Canada, I discovered the very thought of halal mortgages, together with scarcity of these nationwide. Getting Muslim, and achieving stayed more an excellent ic fund continues to grow during the a keen unmatched rate, it piqued my focus, and i made a decision to search for the providing Shariah-compliant mortgages to help you Canadian a residential property people.

After the 6 months out of extensive research and you can those meetings which have Canadian actual-home, home loan, banking and economic features professionals, I discovered that the Canadian financial and you may regulatory environment is actually ripe having demands against Islamic money solutions. Just like the a great Muslim, operator, but most significantly a household person looking a separate household within the Canada, I decided to accept the challenge of developing halal mortgage loans offered by level having my personal fellow Canadian Muslims. Canada’s step 1.6 mil Muslims portray eight hundred,000 homes exactly who, at this point, lack usage of organization-amounts Shariah-certified resource. Additionally, my personal studies have confirmed a large number of this type of Muslims had been sufferers out-of malpractice and possibly actually ripoff at the hands of opportunists seeking generate winnings inside world.

With God’s sophistication, adopting the four a lot of time many years of work, i awarded the basic halal home loan into the 30th , and get given many others just like the! We really believe that listed here is the answer to Canada’s Islamic domestic-capital demands, and i also pray that EQRAZ’s providing fits on the pleasure off my personal other Canadian Muslims.

An enthusiastic Engineer’s look at Islamic Loans

Having invested for the past fifteen years during the design and you may oil & gas features within the Qatar, the trouble regarding Islamic money during the a western banking design reminds myself from a great cofferdam an enclosure oriented within a human anatomy from h2o to let brand new sealed area is moved aside. That it pumping brings a dry operating ecosystem so the work can be achieved properly. Cofferdams can be useful framework otherwise fix off long lasting dams and you can, in my opinion, this new example seems appropriate.

The sea represents the field of desire-depending fund we reside in, the latest cofferdam stands for the apparently little but really broadening Islamic finance industry, as well as the action of moving liquid outside of the cofferdam represents new services from well-wishing Islamic monetary pros so you can purify and you can develop Islamic funds because of the more and more removing the remainder traditional loans elements from the inside the latest Islamic loans world.

Just like good cofferdam, performing a space to possess Islamic loans to expand requires the ability in order to on the other hand continue principles out of Shariah-conformity if you are functioning contained in this Canadian guidelines and you will following the americash loans Mobile rules of your land as much as you’ll without breaking Islamic prices. It’s not the end state but one step on vacation towards a scene rather than riba.

Due to the fact an engineer, an actuary, and an exercising Muslim, We decide to fill out myself to the highest possible standards off professional make, openness and Jesus-fearing trustworthiness by this travels, and i enjoy my personal fellow Canadian Muslims signing up for me personally on this subject travels.

Story Behind Our very own Sign

The fresh new EQRAZ sign is made since the a keen seven-sided Rub-el-Hizb, together with understands given that Islamic Celebrity, which is an important Islamic icon that was used to aid in brand new recitation of Qur’an and, therefore, thought to be an essential part of an effective Muslim’s day-to-day life. Its stated that ???? , new Arabic keyword having green, is employed in different forms seven times throughout the Holy Quran to portray the latest seven doorways so you’re able to Jannah (heaven), that are also portrayed by the eight corners of one’s Rub-el-Hizb.

Within the figure, EQRAZ is created in old Kufic software widely used from inside the Islamic works, that have emails made out of straight lines and best bases. Mathematical and you can rectangular Kufic shapes was basically commonly used in Islamic tissues. Using this type of Kufic build in EQRAZ’s symbol couples this new EQRAZ brand name with Islamic architecture otherwise, told you one other way, Islamic housing EQRAZ’s best organization.

The brand new representation together with stands for EQRAZ’s purpose to stick to each other so you’re able to Shariah and you may Canadian regulations and you can ethics without any twists, turns otherwise compromises. Told you another way, EQRAZ would be straight-forward and you can transparent along with its subscribers, get compliance with Shariah criteria right, and you will appeal to all of our customers’ faith and you can sensitivities.

Eventually, the fresh new navy-bluish color of the new sign signifies breadth, solutions and you may balances. This characterizes the caliber of people and system EQRAZ have put together to add the readers having its halal financing points.