EQRAZ are happy to provide you with halal a home loan compliment of it’s 100% Shariah- and AAOIFI-agreeable monthly Murabaha mortgage equipment. EQRAZ’s Murabaha home loan lets users to close off their mortgage any kind of time time if you are paying from only the kept dominant and you may whenever about three weeks away from money just like the a charge. Name belongs simply to your, getting comfort your home is it’s your. EQRAZ’ sourced elements of investment is actually 100% halal, obtained as a result of Shariah-official, AAOIFI-certified Wakala Preparations. The audience is totally financed, and positively issuing mortgage loans in this five working days regarding application in round the very provinces. Click below for more information.

The inspiration to possess Islamic Money

From inside the , using my around three pupils growing right up, my wife and i made a decision to circulate to Canada regarding Qatar, in which we’d existed because 2007. Considering my early in the day company and you can educational experience, I got desired to begin an administration consulting company. But not, when i started initially to make my personal circle in the Canada, I found the notion of halal mortgage loans, in addition to scarcity of those across the country loans Union AL. Being Muslim, and having lived more than a good ic finance is growing during the an enthusiastic unmatched speed, it piqued my attention, and i also decided to search to the taking Shariah-certified mortgage loans so you’re able to Canadian home people.

Adopting the half a year of comprehensive research and dozens of conferences that have Canadian genuine-house, home loan, banking and you can economic features professionals, I ran across that Canadian financial and you will regulating ecosystem was mature having challenges against Islamic loans possibilities. As a great Muslim, a business owner, but the majority significantly a household individual interested in yet another house from inside the Canada, I thought i’d undertake the situation of developing halal mortgages offered by size having my personal fellow Canadian Muslims. Canada’s step 1.6 billion Muslims represent eight hundred,000 houses just who, at this point, lack access to institutional-grade Shariah-agreeable financing. Furthermore, my studies have verified a large number of these Muslims was basically sufferers out-of malpractice and maybe also ripoff as a result of opportunists seeking to make payouts within this world.

Which have God’s sophistication, following five much time many years of work, i granted our very own first halal financial toward 30th , and just have awarded a lot more because! I sincerely accept that let me reveal the answer to Canada’s Islamic house-money demands, and i pray you to EQRAZ’s giving match with the fulfillment regarding my personal fellow Canadian Muslims.

A keen Engineer’s look at Islamic Fund

Having spent going back fifteen years during the build and you may oil & energy properties when you look at the Qatar, the challenge regarding Islamic fund in a western banking model reminds me out-of good cofferdam a housing oriented within this a human anatomy off h2o to allow brand new enclosed urban area getting moved away. That it working brings a dry functioning environment therefore, the works can be achieved properly. Cofferdams are commonly useful framework or repair off long lasting dams and, for me, new example seems suitable.

The sea represents the industry of appeal-built fund that individuals live in, the latest cofferdam represents this new seemingly lightweight yet expanding Islamic money world, and the action away from moving water out of the cofferdam stands for brand new efforts away from well-prepared Islamic economic pros to help you purify and you can build Islamic financing of the progressively deleting the rest conventional financing issues from within brand new Islamic fund community.

Same as an excellent cofferdam, performing a space having Islamic finance to grow requires the ability to help you on top of that continue values out-of Shariah-conformity when you are working inside Canadian laws and pursuing the rules of homes in terms of you can easily in place of cracking Islamic principles. It’s not the end state but one step on a trip toward a world in place of riba.

Since the a professional, an enthusiastic actuary, and a doing Muslim, We intend to fill in me towards the highest possible requirements away from elite group make, transparency and Goodness-fearing trustworthiness by this travels, and that i look forward to my personal fellow Canadian Muslims signing up for me personally on this subject trip.

Tale About The Sign

The fresh EQRAZ icon is made once the an seven-sided Wipe-el-Hizb, as well as understands as Islamic Star, that is a valuable Islamic symbol that was accustomed help in the fresh new recitation of one’s Qur’an and you can, as a result, named an important part of a great Muslim’s day-to-day lifestyle. It is reported that ???? , the new Arabic term getting green, is employed with its variations seven minutes throughout the Holy Quran to help you portray the new 7 gates so you’re able to Jannah (heaven), which are similarly illustrated by the 7 sides of the Wipe-el-Hizb.

Inside the shape, EQRAZ is written during the old Kufic program popular from inside the Islamic performs, that have characters made out of straight outlines and you can proper basics. Geometric and you will square Kufic shapes was indeed popular when you look at the Islamic buildings. Using this Kufic concept when you look at the EQRAZ’s symbolization associates the newest EQRAZ brand with Islamic structures otherwise, said one other way, Islamic housing EQRAZ’s finest business.

The new symbolization together with means EQRAZ’s intention so you can follow one another so you’re able to Shariah and you can Canadian laws and regulations and you can integrity without the twists, converts otherwise compromises. Told you one other way, EQRAZ would be straight-forward and you can transparent along with its clients, rating compliance that have Shariah criteria right, and you can attract all of our customers’ faith and you may sensitivities.

Ultimately, the brand new navy-blue colour of the newest icon means depth, options and you can balance. Which characterizes the quality of individuals and structure EQRAZ has actually make to include its website subscribers along with its halal financial support items.