EQRAZ is very happy to present halal a mortgage because of its 100% Shariah- and AAOIFI-agreeable payday loans Moundville monthly Murabaha financial tool. EQRAZ’s Murabaha financial lets consumers to close off their financial at any time if you are paying out of precisely the kept prominent and you may whenever around three days away from earnings as the a fee. Identity belongs only to you, getting assurance that your home is it is your own. EQRAZ’ types of investment are 100% halal, acquired through Shariah-authoritative, AAOIFI-compliant Wakala Plans. The audience is totally funded, and you may definitely providing mortgages inside five business days away from software when you look at the across very provinces. Simply click less than to find out more.
The building blocks to have Islamic Financing
During the , using my three pupils growing right up, my spouse and i decided to flow back again to Canada off Qatar, where we had existed because the 2007. Considering my earlier company and you can academic experience, I experienced wished to start a management contacting company. However, when i began to write my circle during the Canada, I came across the notion of halal mortgages, and the lack ones across the country. Getting Muslim, and achieving resided more than a ic fund continues to grow from the a keen unprecedented rates, this piqued my personal notice, and i made a decision to start looking with the bringing Shariah-certified mortgages in order to Canadian a house buyers.
After the half a year out-of detailed research and you can dozens of meetings with Canadian real-home, financial, banking and you can economic services masters, I came across your Canadian economic and you will regulatory ecosystem try mature having pressures facing Islamic funds possibilities. As the an effective Muslim, an entrepreneur, but the majority importantly children person shopping for a unique household within the Canada, I thought i’d undertake the trouble of creating halal mortgages offered at scale getting my personal fellow Canadian Muslims. Canada’s 1.six mil Muslims represent eight hundred,000 households just who, up to now, lack accessibility institutional-grade Shariah-compliant funding. Furthermore, my personal research has affirmed a large number of such Muslims were subjects out-of malpractice and maybe even fraud at the hands of opportunists trying to make profits in this community.
Having God’s sophistication, following the four enough time many years of performs, we issued our earliest halal mortgage toward 30th , and then have granted even more given that! We sincerely accept that the following is the response to Canada’s Islamic family-funding challenges, and i also pray one EQRAZ’s giving meets to your satisfaction out-of my personal other Canadian Muslims.
An enthusiastic Engineer’s look at Islamic Fund
Which have invested going back 15 years within the structure and you can oils & gas characteristics during the Qatar, the challenge off Islamic money when you look at the a western banking model reminds me personally out-of a beneficial cofferdam a housing dependent in this a body out-of liquids to let the newest enclosed city become moved out. So it putting brings a dry operating ecosystem therefore, the works is possible securely. Cofferdams are commonly useful construction otherwise repair regarding long lasting dams and you will, to me, brand new analogy seems suitable.
The sea signifies the field of attention-mainly based money that individuals inhabit, the cofferdam means the brand new seemingly tiny but really broadening Islamic funds world, and the action out of moving liquid from the cofferdam represents the new services away from well-prepared Islamic economic masters so you can cleanse and expand Islamic financing because of the increasingly deleting the remaining conventional money aspects from inside the brand new Islamic money world.
Just like a beneficial cofferdam, undertaking a gap getting Islamic money to grow requires the function to help you on top of that keep beliefs from Shariah-compliance if you find yourself operating inside Canadian laws and you will following rules of one’s house as far as possible instead of cracking Islamic standards. It isn’t the conclusion condition however, one step on vacation for the a scene as opposed to riba.
Once the a professional, a keen actuary, and you may a practicing Muslim, We want to submit myself into the highest possible conditions out-of top-notch conduct, transparency and you may Jesus-fearing honesty through this trip, and i anticipate my fellow Canadian Muslims signing up for me about excursion.
Story Trailing All of our Symbolization
This new EQRAZ icon is made as an enthusiastic seven-sided Scrub-el-Hizb, along with knows just like the Islamic Celebrity, which is an invaluable Islamic icon that was accustomed aid in the new recitation of the Qur’an and, as a result, seen as an important part off a great Muslim’s date-to-go out existence. Its reported that ???? , the brand new Arabic word to have green, can be used in its variations eight moments from the Holy Quran to portray this new eight doorways to help you Jannah (heaven), which can be also portrayed by 7 sides of one’s Scrub-el-Hizb.
From inside the contour, EQRAZ is created inside the old Kufic software popular when you look at the Islamic functions, having emails made out of straight contours and right basics. Geometric and square Kufic molds was basically widely used when you look at the Islamic architecture. With this particular Kufic concept inside EQRAZ’s symbol associates brand new EQRAZ brand having Islamic structures or, said another way, Islamic housing EQRAZ’s primary company.
This new expression in addition to represents EQRAZ’s intention so you can adhere both in order to Shariah and Canadian laws and regulations and ethics without having any twists, transforms otherwise compromises. Told you another way, EQRAZ could well be straight-forward and you will clear having its subscribers, get conformity that have Shariah requirements right, and attract all of our customers’ trust and sensitivities.
Eventually, the newest navy-blue shade of this new expression stands for depth, assistance and you will balance. So it characterizes the standard of people and you can structure EQRAZ provides make to add the readers along with its halal capital things.
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