EQRAZ is actually pleased to give you halal home financing courtesy it’s 100% Shariah- and AAOIFI-certified monthly Murabaha financial device. EQRAZ’s Murabaha mortgage allows consumers to close its home loan at any date by paying out of just the kept prominent and everything around three months regarding profit just like the a charge. Label belongs only to you, bringing satisfaction that the home is really your own personal. EQRAZ’ types of resource is 100% halal, acquired as a result of Shariah-authoritative, AAOIFI-agreeable Wakala Arrangements. The audience is fully funded, and you will earnestly providing mortgage loans within four business days from app for the across most provinces. Click below to learn more.
The foundation getting Islamic Finance
From inside the , with my about three college students growing right up, my wife and i made a decision to circulate returning to Canada of Qatar, in which we had stayed while the 2007. Based on my personal past team and you may informative experience, I’d wished to start a control contacting providers. But not, whenever i began to make my personal circle in the Canada, I found the idea of halal mortgages, plus the dearth of them all over the country. Getting Muslim, and having resided more than a good ic loans keeps growing on an unprecedented rates, it piqued my personal attention, and i also chose to search with the bringing Shariah-agreeable mortgage loans to help you Canadian a home customers.
Pursuing the half a year out-of extensive look and all those conferences with Canadian actual-estate, financial, banking and you can monetary qualities advantages, I discovered that Canadian economic and regulating ecosystem was mature that have demands against Islamic finance possibilities. Because a good Muslim, an entrepreneur, but most notably a family group people interested in an alternative household from inside the Canada, I decided to deal with the problem of creating halal mortgage loans available at size having my fellow Canadian Muslims. Canada’s step 1.six mil Muslims depict eight hundred,000 homes who, yet, use up all your usage of institutional-grade Shariah-certified financing. Moreover, my personal studies have confirmed that many of these types of Muslims was in fact subjects off malpractice and perhaps also swindle at the hands of opportunists seeking build payouts contained in this world.
With God’s sophistication, following the five enough time several years of performs, we issued our basic halal financial into the 30th , and possess awarded numerous because the! We sincerely accept that is the solution to Canada’s Islamic home-money pressures, and that i hope you to definitely EQRAZ’s offering suits with the satisfaction of my other Canadian Muslims.
An enthusiastic Engineer’s view of Islamic Funds
With invested the past 15 years from inside the design and oils & fuel qualities inside Qatar, the challenge of Islamic loans for the a western banking model reminds me off a good cofferdam a housing established within this a human anatomy of drinking water so that the brand new enclosed town to-be moved out. It putting brings a dry performing environment therefore the works is possible securely. Cofferdams can be useful for structure otherwise resolve out of permanent dams and, to me, the fresh new example appears suitable.
The sea means the field of interest-built funds that we inhabit, the fresh new cofferdam represents the brand new apparently lightweight yet expanding Islamic fund community, and also the step off putting drinking water out from the cofferdam means the efforts out of really-wishing Islamic monetary professionals in order to cleanse and you can expand Islamic funds from the more and more removing the remainder old-fashioned money issues from the inside brand new Islamic fund business.
Just like a beneficial cofferdam, undertaking a space for Islamic money to enhance necessitates the ability so you’re able to likewise keep values regarding Shariah-compliance when you find yourself functioning within this Canadian regulations and you may pursuing the guidelines of the homes in terms of you are able to versus breaking Islamic values. It is far from the conclusion condition but one step on a holiday towards the a scene rather than riba.
Once the an engineer, an actuary, and you will a doing Muslim, We decide to fill in myself with the maximum conditions out-of elite group carry out, openness and you can Jesus-dreading sincerity by this trip, and i also anticipate my personal other Canadian Muslims joining me with this travel.
Story Trailing All of our Sign
The fresh EQRAZ image is created because an 7-sided Rub-el-Hizb, as pay day loans in Mount Vernon well as knows because the Islamic Celebrity, that’s a valuable Islamic icon which was accustomed assist in new recitation of the Qur’an and you can, therefore, seen as an important part away from good Muslim’s big date-to-time lifetime. Its reported that ???? , the newest Arabic phrase for green, is utilized in its different forms 7 minutes on Holy Quran so you’re able to show the brand new eight gates in order to Jannah (heaven), which can be furthermore represented because of the seven corners of the Scrub-el-Hizb.
For the figure, EQRAZ is written inside old Kufic program commonly used when you look at the Islamic performs, having letters made out of upright lines and correct bases. Mathematical and you may rectangular Kufic shapes were widely used inside the Islamic buildings. Using this Kufic style within the EQRAZ’s symbol partners new EQRAZ brand having Islamic architecture otherwise, said one other way, Islamic housing EQRAZ’s best providers.
The new logo and additionally stands for EQRAZ’s intent in order to adhere one another to help you Shariah and you can Canadian legislation and you can stability with no twists, transforms or compromises. Told you one other way, EQRAZ will be straight-forward and you can transparent having its website subscribers, get conformity that have Shariah conditions right, and you can attract the customers’ trust and you may sensitivities.
Eventually, the navy-bluish color of the symbol represents depth, systems and balances. That it characterizes the standard of the individuals and you can system EQRAZ features assembled to add the clients featuring its halal capital situations.
