EQRAZ are thrilled to provide you with halal a home loan thanks to its 100% Shariah- and AAOIFI-certified monthly Murabaha financial tool. EQRAZ’s Murabaha financial lets users to shut the home loan at any go out by paying from only the kept principal and you will around around three months out-of funds just like the a charge. Title belongs simply to you, getting reassurance that home is it’s yours. EQRAZ’ Tallassee bank loan sources of investment is actually 100% halal, received compliment of Shariah-authoritative, AAOIFI-certified Wakala Agreements. We have been completely funded, and you may positively giving mortgage loans contained in this five working days regarding application during the across very provinces. Click lower than to find out more.
The foundation getting Islamic Finance
During the , using my three college students broadening up, my spouse and i chose to flow returning to Canada out-of Qatar, where we’d existed as the 2007. Predicated on my personal past providers and you will informative feel, I got desired to start a management contacting business. Although not, while i started initially to make my circle within the Canada, I discovered the notion of halal mortgages, while the dearth of those across the country. Becoming Muslim, and having stayed more than good ic financing continues to grow in the an unprecedented rates, so it piqued my personal focus, and i also chose to begin looking toward providing Shariah-compliant mortgages to help you Canadian a residential property people.
Pursuing the 6 months from detailed browse and you will all those conferences with Canadian real-house, home loan, financial and you can economic features professionals, I discovered your Canadian financial and regulating ecosystem are ready which have challenges against Islamic financing potential. Because the a beneficial Muslim, a business owner, but most notably a family group person interested in an alternative home during the Canada, I decided to deal with the challenge of fabricating halal mortgages offered by size to possess my personal other Canadian Muslims. Canada’s step 1.six mil Muslims show 400,000 property just who, up to now, use up all your usage of institutional-levels Shariah-agreeable funding. Additionally, my studies have confirmed a large number of this type of Muslims was in fact subjects away from malpractice and possibly even swindle as a result of opportunists seeking make earnings within this globe.
With God’s elegance, adopting the five long many years of works, i provided our basic halal financial for the 30th , and then have issued a lot more since the! I sincerely accept that let me reveal the answer to Canada’s Islamic family-investment demands, and i also hope that EQRAZ’s offering matches for the pleasure from my fellow Canadian Muslims.
An enthusiastic Engineer’s view of Islamic Financing
Which have spent for the last fifteen years within the design and petroleum & energy characteristics in the Qatar, the challenge of Islamic finance during the an american banking design reminds me personally of a beneficial cofferdam a housing situated within this a body out-of liquids to let new closed city is pumped aside. This working creates a dry performing environment therefore the really works is possible safely. Cofferdams can be useful for construction or repair from long lasting dams and, for me, the latest analogy appears suitable.
The ocean means the field of attract-oriented funds that people reside in, the fresh new cofferdam stands for the latest seemingly tiny yet , expanding Islamic funds business, and the action of putting h2o outside of the cofferdam represents the services of better-waiting Islamic monetary gurus to help you purify and you will grow Islamic funds by more and more removing the remainder conventional money aspects from within new Islamic funds business.
Just like a cofferdam, doing a gap to own Islamic money to enhance necessitates the element to help you on top of that remain standards away from Shariah-compliance if you are functioning within this Canadian laws and regulations and after the rules of one’s property as far as you are able to without breaking Islamic values. It is not the finish county however, one step on a trip to the a scene versus riba.
Since the a professional, an enthusiastic actuary, and you will an exercising Muslim, I propose to fill in myself on maximum requirements off professional carry out, visibility and you may Jesus-dreading honesty through this journey, and i also look forward to my personal other Canadian Muslims joining myself on this subject trip.
Story Behind Our Symbol
Brand new EQRAZ symbolization is made just like the a keen seven-sided Rub-el-Hizb, in addition to knows just like the Islamic Star, that is an invaluable Islamic symbol that was used to help in the newest recitation of Qur’an and you can, therefore, recognized as an important part away from a Muslim’s date-to-day life. It is stated that ???? , this new Arabic term to possess green, can be used in its variations 7 minutes on Holy Quran so you’re able to show the fresh new eight gates so you can Jannah (heaven), that are likewise portrayed from the eight sides of your Rub-el-Hizb.
In the profile, EQRAZ is created within the old Kufic software commonly used when you look at the Islamic really works, with characters produced from upright outlines and proper basics. Mathematical and you may square Kufic molds were popular within the Islamic buildings. With this Kufic style from inside the EQRAZ’s expression associates the brand new EQRAZ brand name with Islamic architecture or, told you another way, Islamic housing EQRAZ’s perfect team.
The fresh logo also signifies EQRAZ’s intention to heed both so you’re able to Shariah and you will Canadian guidelines and you may integrity with no twists, transforms or compromises. Said one other way, EQRAZ might be straight-forward and clear along with its subscribers, score compliance which have Shariah standards right, and you may interest our very own customers’ faith and you will sensitivities.
In the long run, brand new navy-blue shade of the brand new symbolization means depth, possibilities and you may stability. So it characterizes the standard of the people and you can structure EQRAZ provides come up with to incorporate their members using its halal financial support factors.