EQRAZ is actually pleased to provide you with halal home financing using it’s 100% Shariah- and you will AAOIFI-compliant monthly Murabaha home loan unit. EQRAZ’s Murabaha financial lets users to shut the financial at any time if you are paying off only the left dominating and you can up to about three months out-of cash while the a charge. Title belongs merely to you, providing reassurance that the house is it is your very own. EQRAZ’ sourced elements of funding was 100% halal, gotten owing to Shariah-formal, AAOIFI-certified Wakala Plans. We have been fully financed, and you can definitely issuing mortgages within this four working days away from software when you look at the across the really provinces. Mouse click less than to find out more.
The foundation getting Islamic Financing
Inside the , using my three people broadening up, my partner and i decided to circulate returning to Canada off Qatar, in which we had existed given that 2007. Predicated on my previous team and you can academic experience, I experienced wished to start a control consulting team. Yet not, once i began to produce my personal circle inside Canada, I discovered the very thought of halal mortgage loans, additionally the dearth of those all over the country. Getting Muslim, and having resided over an effective ic loans keeps growing during the an enthusiastic unmatched price, this piqued my personal focus, and i made a decision to start looking on providing Shariah-certified mortgage loans to Canadian a home customers.
Following the six months out of detailed lookup and you may those conferences that have Canadian genuine-home, home loan, banking and you will financial services professionals, I realized the Canadian economic and you may regulating ecosystem are ripe having demands against Islamic financing potential. Because the an excellent Muslim, operator, but most importantly a family group people searching for a payday loan New Hope new house inside Canada, I thought i’d deal with the difficulty of developing halal mortgage loans offered at level having my fellow Canadian Muslims. Canada’s 1.six billion Muslims depict eight hundred,000 homes whom, up until now, use up all your access to organization-degrees Shariah-certified capital. Also, my personal studies have confirmed a large number of these Muslims had been subjects regarding malpractice and maybe also swindle at the hands of opportunists looking to generate profits within globe.
Having God’s elegance, after the four enough time numerous years of functions, we approved our basic halal home loan toward 30th , and also given a lot more as the! I really believe that here is the answer to Canada’s Islamic household-funding pressures, and i pray one to EQRAZ’s offering fits towards fulfillment off my fellow Canadian Muslims.
A keen Engineer’s view of Islamic Loans
Which have spent during the last 15 years into the build and oil & gas qualities in Qatar, the difficulty from Islamic financing into the an american banking design reminds me personally from good cofferdam an enclosure depending contained in this a human anatomy off liquid so that the new shut area becoming pumped away. Which pumping brings a dry doing work ecosystem so the really works can be carried out safely. Cofferdams can be used for build or repair off permanent dams and you will, if you ask me, the new analogy looks appropriate.
The ocean is short for the world of interest-established finance we live in, the fresh cofferdam represents the new relatively smaller but really expanding Islamic money globe, and also the action from pumping liquids out from the cofferdam represents new work away from well-waiting Islamic monetary pros in order to purify and you can grow Islamic money by the increasingly removing the rest conventional fund points from within new Islamic financing business.
Just like a good cofferdam, creating a gap getting Islamic funds to expand necessitates the ability in order to while doing so continue beliefs off Shariah-conformity whenever you are operating inside Canadian legislation and you can following laws of the house so far as you’ll be able to without cracking Islamic values. It isn’t the finish county however, a step on vacation on the a scene in place of riba.
While the a professional, an enthusiastic actuary, and you will a practicing Muslim, We decide to fill in me personally on the highest possible requirements out of top-notch carry out, transparency and you will Goodness-fearing trustworthiness through this travel, and i also enjoy my personal fellow Canadian Muslims joining me personally on this subject trip.
Tale Trailing The Representation
The fresh new EQRAZ image is created as the an 7-sided Scrub-el-Hizb, including understands due to the fact Islamic Superstar, which is an invaluable Islamic symbol that was accustomed aid in the latest recitation of the Qur’an and you can, therefore, thought to be an important part out-of an effective Muslim’s time-to-time life. It is stated that ???? , the fresh new Arabic term getting green, is used in its different forms 7 times regarding Holy Quran so you can depict the brand new eight doorways so you can Jannah (heaven), that are likewise portrayed by the eight corners of one’s Scrub-el-Hizb.
Inside the shape, EQRAZ is created inside old Kufic script commonly used from inside the Islamic functions, having letters produced from straight traces and you will best angles. Mathematical and you will square Kufic molds was basically widely used from inside the Islamic architecture. With this specific Kufic build for the EQRAZ’s symbolization partners the new EQRAZ brand which have Islamic architecture otherwise, said another way, Islamic housing EQRAZ’s best organization.
The new icon and stands for EQRAZ’s intent to help you stick to one another to Shariah and Canadian rules and you may ethics without the twists, turns or compromises. Said another way, EQRAZ would be straight-forward and you may clear having its customers, rating compliance having Shariah conditions right, and interest our very own customers’ faith and you may sensitivities.
In the end, the fresh navy-blue colour of the newest sign means breadth, options and you will stability. Which characterizes the grade of individuals and you will system EQRAZ has actually build to add their subscribers with its halal money facts.
