EQRAZ are pleased to offer you halal home financing thanks to it is 100% Shariah- and AAOIFI-agreeable monthly Murabaha financial device. EQRAZ’s Murabaha home loan lets users to shut their home loan at any date by paying of just the left prominent and you may around three days regarding profit due to the fact a charge. Label belongs just to your, providing comfort that your home is it really is your own personal. EQRAZ’ sourced elements of financial support try 100% halal, obtained by way of Shariah-official, AAOIFI-agreeable Wakala Plans. Our company is totally funded, and you may earnestly issuing mortgages within this four business days off application when you look at the all over really provinces. Click below to find out more.
The foundation to own Islamic Money
From inside the , with my about three people broadening up, my spouse and i chose to disperse returning to Canada from Qatar, in which we’d lived as 2007. Centered on my personal prior providers and you will academic feel, I got desired to begin an administration contacting business. Although not, as i started initially to establish my circle from inside the Canada, I discovered the very thought of halal mortgages, and also the dearth of those across the country. Are Muslim, and achieving existed more an excellent ic funds is growing during the a keen unmatched rates, that it piqued my personal appeal, and that i made a decision to start to look to your getting Shariah-compliant mortgages to help you Canadian real estate customers.
Following 6 months away from comprehensive lookup and you may all those group meetings with Canadian real-estate, mortgage, financial and you can financial properties positives, I ran across that the Canadian financial and you may regulatory environment is ready with pressures against Islamic funds ventures. While the a Muslim, operator, but most importantly a family group individual seeking an alternative home during the Canada, I thought i’d accept the difficulty of making halal mortgages offered by level for my personal fellow Canadian Muslims. Canada’s 1.6 mil Muslims show eight hundred,000 domiciles whom, thus far, use up all your entry to institutional-degrees Shariah-agreeable resource. Additionally, my personal studies have affirmed a large number of these Muslims had been sufferers regarding malpractice and possibly even swindle as a result of opportunists seeking build payouts within this industry.
That have God’s grace, following five much time many years of work, we granted the basic halal financial towards the 30th , and possess provided many more as! We sincerely accept that is the answer to Canada’s Islamic home-investment demands, and i also hope you to definitely EQRAZ’s giving matches towards pleasure out of my personal other Canadian Muslims.
An enthusiastic Engineer’s view of Islamic Money
Which have spent the past 15 years inside the design and you may oils & energy attributes within the Qatar, the difficulty out-of Islamic finance into the a western banking model reminds myself out of a cofferdam an enclosure situated contained in this a human anatomy of liquids to let new closed town to be moved away. It putting produces a dried out functioning environment and so the performs is possible safely. Cofferdams are commonly used for design or resolve regarding long lasting dams and, in my opinion, the newest analogy looks appropriate.
The ocean means the industry of notice-depending finance that individuals inhabit, the new cofferdam stands for the relatively small yet increasing Islamic financing globe, and action regarding putting liquids from the cofferdam represents the fresh new operate out-of better-wishing Islamic economic advantages so you can purify and grow Islamic finance of the progressively deleting the rest conventional funds factors from the inside brand new Islamic money industry.
Same as a great cofferdam, carrying out a gap getting Islamic fund to grow requires the element so you can at the same time continue beliefs out of Shariah-compliance if you find yourself functioning inside Canadian guidelines and after the regulations of one’s home in terms of you are able to rather than cracking Islamic standards. It is far from the finish county but one step on vacation for the a scene without riba.
Due to the fact a professional, an enthusiastic actuary, and a training Muslim, I propose to fill out myself with the maximum conditions away from elite conduct, visibility and you will Goodness-fearing honesty through this excursion, and i anticipate my other Canadian Muslims signing up for me with this excursion.
Facts About All of our Expression
The brand new EQRAZ symbol is designed since the a keen seven-sided Wipe-el-Hizb, together quicken loans North Courtland locations with knows since Islamic Superstar, which is a very important Islamic icon that has been used to help in the brand new recitation of one’s Qur’an and, therefore, seen as a significant part away from an effective Muslim’s go out-to-go out lifestyle. It is reported that ???? , the newest Arabic term to possess green, is utilized with its different forms 7 moments regarding Holy Quran to help you depict the fresh seven gates so you’re able to Jannah (heaven), that are similarly depicted from the 7 sides of one’s Scrub-el-Hizb.
In contour, EQRAZ is written during the old Kufic software popular into the Islamic performs, having letters produced from straight traces and you can correct angles. Mathematical and square Kufic shapes were popular in Islamic frameworks. With this Kufic build within the EQRAZ’s image partners the brand new EQRAZ brand that have Islamic frameworks otherwise, said one other way, Islamic housing EQRAZ’s best providers.
This new representation and additionally stands for EQRAZ’s purpose so you’re able to heed each other to help you Shariah and you will Canadian guidelines and you can ethics without having any twists, converts or compromises. Told you another way, EQRAZ is straight-forward and you may clear along with its customers, rating compliance having Shariah conditions right, and you can interest our very own customers’ faith and you may sensitivities.
In the long run, new navy-blue colour of the signal is short for depth, options and balance. This characterizes the grade of the people and you will structure EQRAZ features built to include its members with its halal investment affairs.