EQRAZ try pleased to offer halal home financing compliment of it is 100% Shariah- and AAOIFI-compliant month-to-month Murabaha home loan device. EQRAZ’s Murabaha home loan allows consumers to close off their mortgage at any day if you are paying out-of only the kept prominent and you will around about three days from funds as a charge. Identity belongs merely to your, delivering peace of mind that your house is its your own. EQRAZ’ resources of financial support try 100% halal, acquired using Shariah-formal, AAOIFI-compliant Wakala Arrangements. The audience is totally financed, and you can actively issuing mortgages within five business days away from application within the all over very provinces. Simply click lower than to learn more.
The inspiration to own Islamic Fund
Inside the , using my three people growing right up, my partner and i chose to flow back again to Canada regarding Qatar, where we’d existed due to the fact 2007. Considering my early in the day team and you will instructional feel, I experienced wished to initiate a control consulting providers. Yet not, whenever i started initially to write my circle in Canada, I came across the very thought of halal mortgages, and dearth of those nationwide. Being Muslim, and achieving resided over a ic money keeps growing during the a keen unprecedented speed, that it piqued my interest, and i made a decision to begin looking into taking Shariah-certified mortgage loans to Canadian a property buyers.
Pursuing the 6 months off thorough check that browse and you may all those conferences with Canadian genuine-estate, mortgage, banking and economic attributes advantages, I discovered that Canadian economic and regulatory ecosystem try ready having challenges against Islamic money options. As the good Muslim, a business owner, but the majority notably a family group people wanting a unique home from inside the Canada, I decided to accept the issue of fabricating halal mortgages available at size to have my fellow Canadian Muslims. Canada’s 1.six billion Muslims portray eight hundred,000 properties who, up until now, run out of entry to institutional-level Shariah-compliant financial support. Also, my personal studies have confirmed a large number of these types of Muslims have been sufferers from malpractice and possibly even con at the hands of opportunists trying to generate profits within this industry.
Which have God’s elegance, following the four a lot of time many years of work, i approved our very own earliest halal financial into the 30th , and then have given a lot more due to the fact! I really believe that the following is the solution to Canada’s Islamic home-money demands, and i also hope one to EQRAZ’s giving suits on the satisfaction away from my personal other Canadian Muslims.
An Engineer’s look at Islamic Financing
Having spent for the past 15 years in the framework and petroleum & gas characteristics for the Qatar, the trouble out of Islamic fund when you look at the an american banking design reminds myself regarding a cofferdam an enclosure built inside a body from liquid to allow the fresh sealed city becoming moved away. So it pumping brings a dried out operating environment therefore the works is possible properly. Cofferdams are commonly useful for framework or repair regarding long lasting dams and you may, to me, the new example seems appropriate.
The sea is short for the industry of attract-based loans that individuals inhabit, the newest cofferdam stands for the relatively smaller yet , increasing Islamic financing business, as well as the step off pumping liquid outside of the cofferdam represents new operate off well-wishing Islamic financial positives to cleanse and you will expand Islamic money from the increasingly deleting the remainder traditional loans facets from within this new Islamic fund business.
Identical to a good cofferdam, performing a gap having Islamic money to expand necessitates the function to help you simultaneously keep principles away from Shariah-conformity whenever you are performing within Canadian rules and after the legislation of residential property in terms of you can easily instead of breaking Islamic beliefs. It is far from the conclusion state however, a step on vacation to the a scene rather than riba.
Given that a professional, an actuary, and a training Muslim, I want to fill out myself toward highest possible criteria out-of top-notch make, openness and you may Goodness-dreading honesty from this trip, and that i look forward to my other Canadian Muslims signing up for me about travel.
Facts At the rear of All of our Representation
New EQRAZ representation is designed since the a keen eight-sided Wipe-el-Hizb, including knows because Islamic Celebrity, that’s an important Islamic icon which was regularly assist in the fresh recitation of your own Qur’an and, as a result, seen as an important part of a Muslim’s time-to-day existence. Its reported that ???? , the newest Arabic phrase to own green, is employed within its various forms seven times regarding Holy Quran to help you show the eight gates to Jannah (heaven), which are also represented of the eight sides of your Scrub-el-Hizb.
For the profile, EQRAZ is created in old Kufic program commonly used for the Islamic works, which have emails produced from upright traces and you can correct bases. Mathematical and you can square Kufic molds had been popular from inside the Islamic tissues. With this Kufic style inside the EQRAZ’s sign associates this new EQRAZ brand that have Islamic architecture otherwise, told you one other way, Islamic housing EQRAZ’s perfect team.
The latest symbolization also signifies EQRAZ’s purpose so you can adhere both in order to Shariah and you will Canadian laws and regulations and you may ethics without having any twists, transforms or compromises. Told you one other way, EQRAZ will be straight-forward and you can transparent having its website subscribers, get compliance with Shariah standards right, and you can interest all of our customers’ faith and you may sensitivities.
Fundamentally, the new navy-bluish colour of the fresh new symbolization stands for depth, possibilities and you will stability. This characterizes the caliber of the individuals and you may structure EQRAZ keeps put together to incorporate their clients with its halal investment things.