EQRAZ was thrilled to give you halal a home loan thanks to it’s 100% Shariah- and you will AAOIFI-certified month-to-month Murabaha home loan product. EQRAZ’s Murabaha financial lets people to close its financial any kind of time time by paying away from precisely the left prominent and around about three months away from profit as the a charge. Title belongs only to you, taking assurance that house is truly your own. EQRAZ’ sources of capital are 100% halal, obtained because of Shariah-formal, AAOIFI-compliant Wakala Arrangements. Our company is completely financed, and you can definitely providing mortgages contained in this four working days off software from inside the around the most provinces. Click less than to learn more.
The inspiration to own Islamic Fund
During the , using my about three youngsters expanding upwards, my partner and i chose to disperse returning to Canada out-of Qatar, in which we had stayed since the 2007. Predicated on my previous team and you can instructional sense, I’d planned to begin a management asking team. Although not, while i began to build my personal circle inside the Canada, I discovered the thought of halal mortgages, plus the scarcity of those across the country. Becoming Muslim, and having stayed more a ic financing is growing during the an enthusiastic unmatched speed, so it piqued my focus, and that i chose to start to look on delivering Shariah-certified mortgages so you can Canadian a property consumers.
After the half a year off extensive browse and you can dozens of meetings that have Canadian actual-property, mortgage, financial and you can monetary characteristics masters, I realized that the Canadian monetary and regulatory ecosystem are ready which have pressures facing Islamic finance options. While the an excellent Muslim, operator, but the majority significantly a family people finding a special family into the Canada, I decided to undertake the difficulty of creating halal mortgages offered at level to have my personal other Canadian Muslims. Canada’s step 1.6 billion Muslims represent eight hundred,000 domiciles exactly who, up until now, run out of the means to access institutional-degrees Shariah-agreeable investment. Moreover, my research has verified a large number of this type of Muslims was indeed victims regarding malpractice and possibly even con as a result of opportunists trying to generate payouts within community.
That have God’s sophistication, adopting the five long years of functions, i issued our very first halal home loan into the 30th , while having approved many others once the! I sincerely accept that we have found the answer to Canada’s Islamic house-funding pressures, and that i pray you to definitely EQRAZ’s providing match to your satisfaction from my personal other Canadian Muslims.
An Engineer’s view of Islamic Loans
Having spent for the past 15 years from inside the build and oil & energy characteristics in the Qatar, the difficulty off Islamic money into the a western banking design reminds me regarding a good cofferdam an enclosure mainly based within this a human anatomy of liquid to allow the fresh shut area are pumped away. It pumping produces a dried out doing work environment so that the works can be carried out securely. Cofferdams are commonly useful for design otherwise resolve out-of long lasting dams and, for me, the latest example seems compatible.
The ocean represents the field of interest-mainly based loans that we live-in, the newest cofferdam represents the fresh new seemingly smaller yet , expanding Islamic funds globe, while the step out of pumping liquids from the cofferdam represents the new operate away from better-wishing Islamic monetary experts to cleanse and build Islamic fund of the progressively deleting the remainder conventional loans factors from inside the fresh Islamic money world.
Same as a beneficial cofferdam, performing a space getting Islamic funds to grow requires the element to on the other hand keep principles of Shariah-compliance when you’re operating in this Canadian laws and you may adopting the statutes of your own land in terms of you are able to without cracking Islamic beliefs. It is far from the conclusion condition however, a step on a trip into a scene instead of riba.
Given that a professional, a keen actuary, and you may a practicing Muslim, I intend to complete myself toward highest loans White Hall AL possible standards off top-notch perform, visibility and you can God-dreading trustworthiness through this excursion, and i also anticipate my personal other Canadian Muslims joining me about journey.
Story About Our Signal
The fresh EQRAZ icon was created while the an 7-sided Wipe-el-Hizb, and knows because the Islamic Celebrity, which is an invaluable Islamic icon which was familiar with help in the new recitation of the Qur’an and you may, as such, recognized as a significant part off an effective Muslim’s day-to-time lifetime. It is reported that ???? , the latest Arabic term to possess green, is utilized within the various forms 7 minutes from the Holy Quran in order to portray new seven gates in order to Jannah (heaven), that are similarly portrayed of the seven corners of your Wipe-el-Hizb.
Inside the contour, EQRAZ is written from inside the old Kufic software popular when you look at the Islamic works, which have letters created from upright outlines and best angles. Geometric and you will square Kufic shapes have been popular into the Islamic architecture. With this specific Kufic build when you look at the EQRAZ’s image lovers the latest EQRAZ brand which have Islamic structures or, said one other way, Islamic housing EQRAZ’s finest organization.
The fresh representation plus stands for EQRAZ’s purpose to stick to one another so you’re able to Shariah and you may Canadian legislation and you will integrity without having any twists, transforms otherwise compromises. Said another way, EQRAZ could be straight-forward and you can clear along with its customers, rating conformity having Shariah conditions right, and you can interest our customers’ trust and you can sensitivities.
In the end, the latest navy-bluish shade of the brand new image is short for breadth, possibilities and you may balances. It characterizes the quality of the individuals and you will infrastructure EQRAZ keeps come up with to include their customers featuring its halal money products.