EQRAZ was happy to give you halal home financing through it’s 100% Shariah- and you may AAOIFI-agreeable monthly Murabaha financial tool. EQRAZ’s Murabaha mortgage allows customers to shut the mortgage at any big date by paying out of just the left principal and you will everything three months of profit because the a charge. Identity belongs simply to your, bringing peace of mind that your particular residence is its yours. EQRAZ’ types of money is 100% halal, received thanks to Shariah-authoritative, AAOIFI-certified Wakala Plans. We’re fully funded, and positively providing mortgages contained in this four business days regarding software within the around the extremely provinces. Mouse click lower than for more information.
The foundation to have Islamic Fund
During the , with my around three college students broadening right up, my wife and i made a decision to circulate to Canada of Qatar, where we had existed because 2007. Considering my previous business and you will educational experience, I’d wanted to begin a management consulting team. However, while i began to make my circle into the Canada, I came across the thought of halal mortgage loans, while the dearth ones nationwide. Getting Muslim, and having existed more than an effective ic loans continues to grow at the an unprecedented speed, this piqued my notice, and i decided to look with the taking Shariah-compliant mortgages to help you Canadian a residential property customers.
Following the six months of thorough look and you may dozens of meetings having Canadian real-home, mortgage, financial and you will economic functions advantages, I ran across your Canadian financial and you will regulating environment was ready having demands against Islamic money possibilities. As a good Muslim, an entrepreneur, but most importantly a family group individual interested in a unique family in Canada, I decided to deal with the difficulty of fabricating halal mortgage loans offered at level for my other Canadian Muslims. Canada’s 1.six mil Muslims show 400,000 households which, up until now, use up all your use of organization-values Shariah-certified money. More over, my studies have confirmed a large number of this type of Muslims was in fact victims of malpractice and perhaps also fraud as a result of opportunists trying build winnings within industry.
That have God’s elegance, adopting the five much time years of performs, i approved all of our first halal mortgage towards the 30th , and also awarded a lot more because the! I sincerely believe that the following is the solution to Canada’s Islamic household-resource pressures, and that i pray that EQRAZ’s providing matches to the fulfillment off my personal other Canadian Muslims.
A keen Engineer’s look at Islamic Money
That have spent the past fifteen years when you look at the structure and you can petroleum & energy properties in the Qatar, the situation regarding Islamic money within the an american banking design reminds me personally from a good cofferdam a housing created inside a human anatomy out of liquid to allow the fresh new closed town getting moved out. It putting creates a dried out operating environment and so the performs can be carried out safely. Cofferdams can be useful structure or fix regarding permanent dams and, in my opinion, the latest analogy appears suitable.
The ocean stands for the industry of focus-centered loans that individuals reside in, new cofferdam signifies the brand new seemingly tiny yet , broadening Islamic loans community, and step regarding putting liquids outside of the cofferdam signifies the brand new efforts off better-wishing Islamic monetary benefits so you can cleanse and you can develop Islamic money by increasingly deleting the rest antique funds elements from the inside brand new Islamic finance industry.
Same as good cofferdam, starting a gap to have Islamic finance to enhance necessitates the ability to at the same time continue principles away from Shariah-conformity if you are performing contained in this Canadian statutes and you may after the legislation of one’s home so far as possible in place of cracking Islamic standards. It is really not the conclusion state however, one step on a journey towards the a scene versus riba.
As the an engineer, a keen actuary, and you may an exercising Muslim, I decide to submit me personally towards highest possible standards from elite make, openness and you will Jesus-dreading trustworthiness through this trip, and that i anticipate my personal fellow Canadian Muslims joining myself about this travels.
Tale About All of our Symbolization
New EQRAZ representation is made given that an seven-sided Scrub-el-Hizb, along with knows as the Islamic Celebrity, that’s an invaluable Islamic symbol which was familiar with assist in the recitation of your own Qur’an and, therefore, seen as a significant part regarding an effective Muslim’s day-to-time lifestyle. It is stated that ???? , new Arabic phrase getting green, is employed within the various forms seven times about Holy Quran so you can show the fresh new eight doorways to Jannah (heaven), which can be also represented by eight corners of Rub-el-Hizb.
When you look at the profile, EQRAZ is created during the old Kufic script popular inside Islamic works, with characters produced https://paydayloanalabama.com/orange-beach/ from upright outlines and you will correct bases. Geometric and you can square Kufic shapes was indeed popular within the Islamic frameworks. Using this Kufic style in EQRAZ’s symbol couples the EQRAZ brand name having Islamic buildings otherwise, said another way, Islamic housing EQRAZ’s primary organization.
The latest icon including represents EQRAZ’s intention to stick to both so you can Shariah and you can Canadian laws and regulations and you may stability without any twists, converts otherwise compromises. Said one other way, EQRAZ could well be straight-forward and you may transparent featuring its website subscribers, score compliance having Shariah conditions right, and you will appeal to the customers’ believe and sensitivities.
In the long run, brand new navy-bluish colour of brand new symbolization means depth, possibilities and you may balance. So it characterizes the standard of the folks and you will structure EQRAZ has developed to provide the readers along with its halal financing affairs.
