EQRAZ are thrilled to offer halal a mortgage compliment of its 100% Shariah- and you will AAOIFI-agreeable month-to-month Murabaha mortgage device. EQRAZ’s Murabaha home loan lets customers to close off its mortgage any kind of time go out if you are paying from precisely the left prominent and you can as much as three weeks away from finances since the a charge. Label belongs in order to your, providing peace of mind that residence is it is your personal. EQRAZ’ sourced elements of capital was 100% halal, gotten owing to Shariah-official, AAOIFI-certified Wakala Arrangements. Our company is fully financed, and you can earnestly issuing mortgage loans inside five working days off app during the round the very provinces. Simply click below to learn more.
The inspiration to have Islamic Loans
In the , with my three pupils expanding right up, my partner and i decided to circulate back once again to Canada out of Qatar, where we had resided as 2007. Based on my past business and you can educational feel, I got desired to begin a management consulting team. not, while i began to produce my network in Canada, I came across the idea of halal mortgage loans, additionally the scarcity of these across the country. Are Muslim, and having resided more an excellent ic loans keeps growing on an unprecedented rates, that it piqued my personal interest, and that i chose to begin looking on taking Shariah-certified mortgages in order to Canadian a property people.
Following the 6 months out-of extensive research and you will dozens of group meetings with Canadian actual-estate, financial, financial and you can monetary functions professionals, I realized the Canadian financial and regulatory ecosystem are ripe with pressures against Islamic money ventures. As the a great Muslim, an entrepreneur, but the majority significantly a family group people in search of a different house inside Canada, I thought i’d accept the problem of fabricating halal mortgage loans offered by measure getting my personal fellow Canadian Muslims. Canada’s step one.6 mil Muslims depict eight hundred,000 households whom, at this point, run out of access to institutional-stages Shariah-agreeable money. More over, my personal studies have verified that many of these Muslims was indeed subjects out-of malpractice and possibly actually con at the hands of opportunists seeking generate payouts inside business.
That have God’s elegance, pursuing the four much time years of functions, i awarded all of our first halal home loan on the 30th , and just have approved many others as the! We sincerely believe that is the answer to Canada’s Islamic family-capital demands, and i also pray you to definitely EQRAZ’s giving matches on the fulfillment away from my fellow Canadian Muslims.
A keen Engineer’s look at Islamic Loans
With invested for the last 15 years from inside the construction and petroleum & energy attributes from inside the Qatar, the trouble of Islamic funds from inside the an american banking design reminds me out of a cofferdam an enclosure founded in this a human anatomy regarding drinking water to allow the brand new closed area become moved away. It putting produces a dry doing work ecosystem and so the works can be done properly. Cofferdams are generally useful for structure otherwise fix away from permanent dams and you may, to me, brand new analogy looks suitable.
The sea stands for the world of notice-created fund that individuals live-in, the fresh cofferdam stands for the fresh new apparently little yet broadening Islamic financing world, as well as the step out of putting drinking water out from the cofferdam means the efforts off really-waiting Islamic economic experts in order to cleanse and you can expand Islamic fund because of the increasingly removing the rest traditional money elements from inside new Islamic finance business.
Same as a great cofferdam, doing a gap to own Islamic finance to expand necessitates the function in order to on the other hand remain beliefs of Shariah-conformity whenever you are performing within this Canadian guidelines and you will after the guidelines of the belongings as much as it is possible to versus cracking Islamic values. It’s not the end county but one step on a journey into a world instead of riba.
As the a professional, an actuary, and you will a practicing Muslim, We decide to fill out me personally on the maximum standards from elite make, visibility and you may God-fearing honesty by this trip, and that i look ahead to my personal fellow Canadian Muslims signing up for myself about this excursion.
Tale Behind Our very own Logo
The newest EQRAZ symbolization was created given that an eight-sided Wipe-el-Hizb, plus knows since Islamic Superstar, that is an invaluable Islamic icon which had been used to help in the fresh new recitation of Qur’an and, therefore, seen as an important part out-of a beneficial Muslim’s date-to-date lives. It is stated that ???? , the fresh Arabic keyword having green, is utilized within its variations seven minutes regarding the Holy Quran so you’re able to depict new seven gates to Jannah (heaven), that are furthermore portrayed of the seven edges of one’s Rub-el-Hizb.
In the contour, EQRAZ is written in the old Kufic program popular from inside the Islamic functions, with letters produced from straight contours and correct angles. Geometric and you can rectangular Kufic shapes was commonly used into the Islamic buildings. Using this type of Kufic concept inside EQRAZ’s logo partners the EQRAZ brand having Islamic architecture otherwise, said another way, Islamic housing EQRAZ’s primary business.
Brand new expression as well as signifies EQRAZ’s intent so you’re able to adhere one another so you can Shariah and Canadian statutes and you will integrity with no twists, transforms or compromises. Said one other way, EQRAZ could be straight-forward and clear with its members, score conformity having Shariah conditions right, and you can interest our customers’ trust and you can sensitivities.
Fundamentally, this new navy-blue color https://paydayloanalabama.com/north-courtland/ of brand new image stands for depth, systems and you will balances. So it characterizes the grade of individuals and you may system EQRAZ enjoys come up with to add the readers featuring its halal investment activities.