EQRAZ is actually thrilled to present halal home financing by way of its 100% Shariah- and AAOIFI-compliant monthly Murabaha financial device. EQRAZ’s Murabaha home loan allows people to shut its home loan at any big date by paying of just the left prominent and you will as much as around three months away from cash once the a charge. Term belongs merely to you, taking reassurance that home is it really is your own. EQRAZ’ sourced elements of investment try 100% halal, gotten compliment of Shariah-official, AAOIFI-certified Wakala Plans. We’re completely financed, and you can positively issuing mortgage loans contained in this five working days out-of software inside across very provinces. Simply click below to find out more.
The inspiration to have Islamic Loans
For the , with my about three pupils increasing right up, my partner and i chose to circulate returning to Canada out-of Qatar, in which we had lived since 2007. Centered on my earlier in the day team and you may instructional feel, I’d desired to start a control consulting business. However, whenever i began to produce my system from inside the Canada, I found the thought of halal mortgage loans, and the dearth of those across the country. Being Muslim, and achieving stayed more a great ic money keeps growing in the an enthusiastic unprecedented rate, so it piqued my desire, and i also made a decision to start to look towards taking Shariah-agreeable mortgage loans to help you Canadian a property people.
Pursuing the 6 months from comprehensive look and you will dozens of conferences having Canadian real-estate, home loan, banking and you may economic characteristics gurus, I came across that the Canadian financial and you can regulating ecosystem is actually mature with challenges facing Islamic money opportunities. Due to the fact an effective Muslim, operator, but most importantly a household individual searching for a special home for the Canada, I decided to accept the trouble of making halal mortgages available at scale getting my other Canadian Muslims. Canada’s step one.6 million Muslims depict 400,000 households exactly who, up until now, lack use of institutional-amount Shariah-agreeable capital. Furthermore, my personal research has verified that many of such Muslims have been subjects off malpractice and perhaps actually scam at the hands of opportunists looking to create profits inside industry.
That have God’s grace, after the five long numerous years of functions, i provided the basic halal mortgage to your 30th , and then have issued many more as the! We really believe that is the answer to Canada’s Islamic family-resource demands, and that i hope one EQRAZ’s offering meets on satisfaction of my other Canadian Muslims.
An enthusiastic Engineer’s view of Islamic Loans
That have invested for the past 15 years for the structure and petroleum & gas properties within the Qatar, the challenge out-of Islamic financing during the an american banking model reminds myself of an effective cofferdam an enclosure oriented inside a body regarding drinking water to let the latest enclosed urban area become moved away. So it pumping brings a dry functioning ecosystem and so the works is possible securely. Cofferdams are generally used in build or fix of permanent dams and you may, in my opinion, the new analogy seems https://paydayloanalabama.com/sweet-water/ appropriate.
The sea stands for the industry of appeal-mainly based loans that people live in, this new cofferdam represents the relatively little but really growing Islamic fund industry, therefore the action out-of working water out from the cofferdam signifies the new jobs out of better-waiting Islamic monetary positives so you’re able to cleanse and you will develop Islamic financing of the progressively removing the remainder conventional loans issue from the inside the new Islamic funds world.
Just like an effective cofferdam, carrying out a gap to possess Islamic money to enhance requires the function to help you at exactly the same time continue standards out-of Shariah-compliance whenever you are performing in this Canadian statutes and you can adopting the rules of one’s house as far as you’ll in place of cracking Islamic standards. It is not the conclusion county however, one step on a journey into a world without riba.
While the an engineer, an actuary, and you can a practicing Muslim, We propose to submit me for the maximum criteria out of top-notch conduct, visibility and you can Jesus-fearing sincerity through this excursion, and i enjoy my fellow Canadian Muslims signing up for me about this trip.
Facts Trailing Our Symbol
The EQRAZ sign is designed as an enthusiastic 7-sided Wipe-el-Hizb, along with understands because Islamic Superstar, which is a valuable Islamic icon that has been always aid in brand new recitation of your Qur’an and, therefore, thought to be an important part from a beneficial Muslim’s date-to-big date lifestyle. It is stated that ???? , new Arabic phrase to have green, is used within its variations 7 times in the Holy Quran to represent this new eight doorways to Jannah (heaven), which can be likewise illustrated from the 7 corners of the Rub-el-Hizb.
Inside the shape, EQRAZ is written inside old Kufic program popular inside Islamic performs, with emails made out of straight traces and you can correct bases. Geometric and you will square Kufic shapes was commonly used in Islamic architecture. Using this type of Kufic layout when you look at the EQRAZ’s signal partners brand new EQRAZ brand name which have Islamic structures otherwise, said another way, Islamic housing EQRAZ’s perfect organization.
New expression and additionally represents EQRAZ’s intention to adhere one another in order to Shariah and you can Canadian regulations and you may stability without having any twists, converts or compromises. Said one other way, EQRAZ could be straight-forward and you may transparent using its customers, score compliance with Shariah conditions right, and you will interest our very own customers’ trust and sensitivities.
In the long run, this new navy-bluish shade of the new icon is short for breadth, possibilities and you will stability. This characterizes the standard of people and you will system EQRAZ have come up with to provide the website subscribers having its halal financing facts.