EQRAZ try very happy to offer you halal a mortgage by way of it is 100% Shariah- and AAOIFI-certified month-to-month Murabaha mortgage equipment. EQRAZ’s Murabaha home loan allows people to close off its home loan any kind of time go out if you are paying off only the left dominant and whenever three weeks out-of cash while the a charge. Term belongs in order to your, providing peace of mind that the house is it really is your own. EQRAZ’ sources of resource try 100% halal, acquired owing to Shariah-official, AAOIFI-agreeable Wakala Preparations. Our company is fully funded, and you may actively issuing mortgages within five business days out of software in round the extremely provinces. Click lower than to find out more.
The foundation having Islamic Finance
Within the , with my about three students growing upwards, my partner and i made a decision to move back into Canada regarding Qatar, where we’d existed once the 2007. According to my previous business and you will informative sense, I had desired to begin an administration contacting business. Although not, while i began to establish my system for the Canada, I came across the very thought of halal mortgage loans, while the lack of them all over the country. Are Muslim, and achieving lived more than a good ic fund keeps growing within an unmatched speed, it piqued my personal desire, and i made a decision to look to the providing Shariah-compliant mortgages so you’re able to Canadian a residential property buyers.
Following the six months regarding comprehensive look and you may those conferences which have Canadian actual-estate, mortgage, banking and you will economic functions positives, I ran across the Canadian economic and you can regulating environment is actually ready having demands facing Islamic loans opportunities. Because a beneficial Muslim, an entrepreneur, but most significantly children individual interested in a new family inside Canada, I thought i’d take on the challenge of creating halal mortgage loans offered at level to own my personal other Canadian Muslims. Canada’s 1.6 billion Muslims depict eight hundred,000 house just who, thus far, use up all your use of institutional-amounts Shariah-compliant funding. Furthermore, my studies have confirmed that many of these types of Muslims was indeed victims from malpractice and maybe also con at the hands of opportunists looking to build profits within business.
That have God’s elegance, following five enough time numerous years of really works, i granted the earliest halal mortgage to your 30th , and then have approved a lot more once the! We really believe that here’s the response to Canada’s Islamic home-money pressures, and that i hope one EQRAZ’s providing suits for the fulfillment off my fellow Canadian Muslims.
An Engineer’s view of Islamic Funds
With spent for the last fifteen years for the framework and oil & energy functions from inside the Qatar, the trouble out of Islamic fund in an american financial model reminds myself out-of a good cofferdam an enclosure situated within this a body off h2o to let the fresh new closed town to be moved away. This moving brings a dry doing work ecosystem and so the works can be achieved securely. Cofferdams can be used in construction otherwise repair out-of permanent dams and you can, in my opinion, the fresh new example seems suitable.
The ocean signifies the industry of attention-depending money that individuals live-in, the cofferdam signifies the apparently little yet , growing Islamic loans business, as well as the action away from working h2o out from the cofferdam is short for the fresh new services of really-waiting Islamic financial advantages to help you purify and build Islamic financing from the more and more deleting the remaining old-fashioned funds factors from the inside the fresh new Islamic financing globe.
Identical to an effective cofferdam, performing a space for Islamic funds to grow necessitates the element to on the other hand remain standards out of Shariah-conformity whenever you are operating within Canadian regulations and you can after the laws of one’s home as much as possible instead cracking Islamic values. It isn’t the conclusion county but a step on a journey to the a world as opposed to riba.
Because the a professional, an actuary, and you will a training Muslim, I propose to fill out me personally into the highest possible criteria away from elite group conduct, openness and you can Jesus-dreading sincerity through this journey, and that i look forward to my fellow Canadian Muslims joining myself about travel.
Facts At the rear of Our very own Symbolization
The newest EQRAZ expression is designed once the an seven-sided Wipe-el-Hizb, and additionally knows once the Islamic Celebrity, that’s an important Islamic symbol which had been familiar with help in the recitation of the Qur’an and, as a result, seen as an important part regarding a beneficial Muslim’s day-to-go out lifetime. Its stated that ???? , the new Arabic term to have green, is used in its different forms seven moments on the Holy Quran to represent the brand new eight doorways to Jannah (heaven), which are likewise illustrated of the seven corners of the Rub-el-Hizb.
When you look at the contour, EQRAZ is written for the ancient Kufic script popular in Islamic works, which have characters made out of upright lines and proper angles. Geometric and you can square Kufic molds have been commonly used in the Islamic architecture. With this Kufic build in the EQRAZ’s logo lovers the fresh EQRAZ brand name which have Islamic architecture or, told you one other way, Islamic housing EQRAZ’s best team.
The new sign including is short for EQRAZ’s intention to heed each other so you can Shariah and you will Canadian legislation and you will ethics without any twists, converts otherwise compromises. Told you one other way, EQRAZ was straight-forward and transparent using its customers, get conformity that have Shariah conditions right, and you may attract our very own customers’ faith and sensitivities.
Fundamentally, this new navy-blue color of this new symbolization means depth, options and you can stability. Which characterizes the caliber of the view website people and you may structure EQRAZ possess developed to incorporate the members featuring its halal capital affairs.
