EQRAZ is actually very happy to present halal a mortgage using its 100% Shariah- and you will AAOIFI-agreeable month-to-month Murabaha home loan unit. EQRAZ’s Murabaha mortgage allows consumers to close off its mortgage at any date by paying off just the left dominant and you can just as much as about three months away from funds since the a fee. Label belongs in order to you, bringing reassurance that your house is it’s your own. EQRAZ’ types of capital is actually 100% halal, obtained thanks to Shariah-formal, AAOIFI-agreeable Wakala Agreements. We’re fully financed, and you can definitely providing mortgage loans inside four business days out of software into the across the really provinces. Click below to learn more.
The building blocks getting americash loans Tuscaloosa Islamic Funds
During the , using my three youngsters expanding up, my wife and i chose to flow back again to Canada out-of Qatar, where we’d lived because 2007. Based on my personal early in the day team and you may informative sense, I got desired to initiate an administration consulting business. Although not, while i started to create my personal circle when you look at the Canada, I found the very thought of halal mortgages, while the scarcity of those all over the country. Are Muslim, and having lived more a good ic fund continues to grow at the a keen unmatched speed, it piqued my appeal, and i decided to begin looking toward bringing Shariah-certified mortgages to help you Canadian real estate buyers.
Following the 6 months out of detailed look and you will all those meetings having Canadian actual-home, financial, banking and you will financial qualities benefits, I discovered the Canadian financial and you will regulating environment is actually ripe which have challenges against Islamic financing possibilities. Due to the fact an excellent Muslim, a business owner, but most notably a family person shopping for a special domestic into the Canada, I decided to accept the trouble of developing halal mortgages available at scale to possess my fellow Canadian Muslims. Canada’s step 1.6 billion Muslims depict 400,000 homes which, yet, run out of usage of institutional-amounts Shariah-certified financial support. Additionally, my studies have affirmed that many of these types of Muslims was sufferers of malpractice and perhaps actually scam as a result of opportunists seeking build winnings inside globe.
That have God’s sophistication, after the five a lot of time several years of works, i awarded the earliest halal home loan to your 30th , and also have granted numerous once the! We sincerely accept that the following is the response to Canada’s Islamic household-resource demands, and i also hope one to EQRAZ’s giving fits into the pleasure regarding my other Canadian Muslims.
An Engineer’s look at Islamic Money
With spent during the last 15 years within the build and oil & fuel services in the Qatar, the difficulty off Islamic finance when you look at the a western banking model reminds myself of a cofferdam a housing mainly based inside a human anatomy away from water to allow this new shut area getting pumped out. That it pumping brings a dry operating ecosystem therefore, the functions can be carried out properly. Cofferdams are generally employed for framework or resolve away from permanent dams and you will, for me, the new analogy appears compatible.
The ocean stands for the industry of notice-dependent money we live-in, this new cofferdam represents the fresh relatively smaller yet growing Islamic money industry, therefore the step out of moving h2o out from the cofferdam signifies new services from well-waiting Islamic economic benefits to cleanse and you can build Islamic finance by increasingly removing the rest conventional funds points from inside the brand new Islamic financing world.
Identical to an excellent cofferdam, creating a gap to possess Islamic loans to grow necessitates the function in order to at exactly the same time keep prices from Shariah-conformity if you find yourself doing work within Canadian statutes and you will pursuing the rules of the residential property in terms of you can instead of cracking Islamic prices. It is really not the conclusion county however, one step on a holiday toward a world instead of riba.
Given that an engineer, an actuary, and you can a training Muslim, We decide to submit me into highest possible conditions away from elite conduct, visibility and you will God-fearing sincerity from this journey, and i also anticipate my other Canadian Muslims signing up for me on this subject excursion.
Tale About Our Symbol
This new EQRAZ icon is made as a keen seven-sided Rub-el-Hizb, plus understands since Islamic Celebrity, that is an invaluable Islamic symbol that has been familiar with assist in the fresh recitation of Qur’an and, as a result, named a significant part of an effective Muslim’s time-to-big date existence. Its reported that ???? , the Arabic phrase having green, is utilized in variations 7 minutes about Holy Quran so you’re able to depict the new 7 doorways in order to Jannah (heaven), which happen to be similarly depicted from the 7 edges of the Scrub-el-Hizb.
Inside profile, EQRAZ is written in the old Kufic program popular within the Islamic performs, with characters made out of upright contours and right bases. Mathematical and you may rectangular Kufic molds was popular when you look at the Islamic structures. With this specific Kufic concept inside EQRAZ’s expression couples this new EQRAZ brand name which have Islamic tissues or, said another way, Islamic housing EQRAZ’s best organization.
New image plus signifies EQRAZ’s purpose so you’re able to heed each other so you’re able to Shariah and you will Canadian statutes and you may stability without the twists, turns otherwise compromises. Told you one other way, EQRAZ might possibly be straight-forward and clear along with its subscribers, rating conformity having Shariah standards right, and you will interest the customers’ trust and sensitivities.
Eventually, the fresh new navy-bluish shade of the fresh new icon stands for breadth, systems and you may balances. This characterizes the standard of individuals and you can infrastructure EQRAZ provides developed to include the website subscribers featuring its halal capital affairs.
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