EQRAZ is pleased to present halal a home loan thanks to it is 100% Shariah- and you will AAOIFI-certified month-to-month Murabaha financial unit. EQRAZ’s Murabaha financial allows customers to shut the home loan any kind of time go out by paying out-of only the remaining principal and you may as much as about three months out-of money due to the fact a fee. Name belongs merely to you, delivering reassurance your house is its your. EQRAZ’ sourced elements of capital is 100% halal, received compliment of Shariah-official, AAOIFI-agreeable Wakala Plans. Our company is completely funded, and earnestly providing mortgage loans contained in this five working days out-of application into the across very provinces. Click below for more information.
The inspiration to own Islamic Finance
Inside , using my around three students expanding up, my spouse and i chose to flow back again to Canada out of Qatar, where we had existed as 2007. Centered on my personal previous company and you will informative feel, I got planned to initiate an administration asking organization. But not, when i started to produce my network inside the Canada, I discovered the idea of halal mortgage loans, in addition to lack of them across the country. Becoming Muslim, and achieving stayed over a ic fund keeps growing from the an unprecedented price, it piqued my personal interest, and i made a decision to start to look with the getting Shariah-compliant mortgages in order to Canadian real estate buyers.
Following the 6 months out of comprehensive look and you can those meetings that have Canadian genuine-home, mortgage, financial and you can monetary attributes masters, I ran across that the Canadian monetary and you may regulating environment is mature which have challenges up against Islamic money opportunities. Since the good Muslim, operator, but most notably a family group person seeking an alternate house from inside the Canada, I thought i’d take on the trouble of creating halal mortgages available at size having my personal fellow Canadian Muslims. Canada’s step one.6 mil Muslims portray eight hundred,000 households exactly who, up to now, run out of use of institutional-values Shariah-compliant money. Furthermore, my studies have confirmed that many of these Muslims was subjects of malpractice and maybe even swindle as a result of opportunists looking to make winnings in this community.
Having God’s sophistication, pursuing the five much time several years of functions, i given our very own basic halal home loan with the 30th , and then have issued more just like the! I really accept that the following is the answer to Canada’s Islamic domestic-resource challenges, and i also pray one to EQRAZ’s providing meets to your pleasure out of my personal other Canadian Muslims.
A keen Engineer’s look at Islamic Finance
Having invested during the last 15 years within the framework and oil & energy services from inside the Qatar, the situation from Islamic finance during the an american banking design reminds myself out-of a great cofferdam an enclosure oriented in this a human anatomy of drinking https://paydayloanalabama.com/parrish/ water to allow the newest enclosed urban area are pumped aside. It working brings a dry working ecosystem therefore, the performs can be done securely. Cofferdams are generally useful design or repair away from long lasting dams and you can, in my experience, the example appears appropriate.
The ocean means the realm of notice-based loans that individuals reside in, the brand new cofferdam is short for the fresh new relatively tiny yet , broadening Islamic funds community, and also the step away from working drinking water out from the cofferdam signifies the fresh perform regarding well-prepared Islamic economic positives so you’re able to cleanse and you can develop Islamic funds from the progressively removing the rest antique fund aspects from the inside the brand new Islamic fund world.
Just like an effective cofferdam, carrying out a space having Islamic financing to enhance necessitates the ability so you’re able to additionally continue principles out of Shariah-conformity when you find yourself functioning inside Canadian rules and you can following regulations of one’s belongings as much as you’ll be able to in place of cracking Islamic principles. It is not the conclusion county however, a step on a holiday towards a scene in place of riba.
Given that an engineer, an actuary, and you can a training Muslim, We decide to fill out me into maximum standards off professional carry out, transparency and you may Jesus-fearing honesty through this journey, and i also look ahead to my other Canadian Muslims joining myself about this travel.
Tale About Our Symbolization
Brand new EQRAZ signal is made because a keen 7-sided Wipe-el-Hizb, including knows just like the Islamic Star, that’s an invaluable Islamic symbol which was regularly assist in the fresh recitation of your Qur’an and you will, as a result, thought to be a significant part out-of good Muslim’s go out-to-go out lifestyle. It is stated that ???? , the Arabic keyword to possess green, is utilized in its variations eight moments on Holy Quran so you’re able to represent the newest eight gates in order to Jannah (heaven), which are similarly depicted by seven sides of the Scrub-el-Hizb.
Into the figure, EQRAZ is written for the ancient Kufic program widely used when you look at the Islamic really works, having emails made out of upright traces and you can best basics. Geometric and you will square Kufic molds was indeed popular in Islamic architecture. With this particular Kufic style in the EQRAZ’s symbolization couples the fresh new EQRAZ brand name which have Islamic frameworks otherwise, said one other way, Islamic housing EQRAZ’s finest organization.
This new representation also represents EQRAZ’s intent so you can adhere one another in order to Shariah and you can Canadian legislation and integrity without the twists, converts otherwise compromises. Said another way, EQRAZ might be straight-forward and transparent using its readers, get conformity which have Shariah criteria right, and you may attract our very own customers’ faith and you will sensitivities.
Fundamentally, this new navy-bluish shade of the new symbolization stands for depth, expertise and stability. This characterizes the quality of the individuals and you will infrastructure EQRAZ have built to provide its readers along with its halal investment points.
