EQRAZ is actually pleased to provide you with halal home financing using it’s 100% Shariah- and you may AAOIFI-agreeable month-to-month Murabaha home loan unit. EQRAZ’s Murabaha home loan allows customers to close off the home loan any kind of time time by paying out of only the leftover dominating and you can whenever three months of money given that a fee. Name belongs in order to your, bringing peace of mind your home is it really is a. EQRAZ’ sourced elements of financial support was 100% halal, received thanks to Shariah-formal, AAOIFI-agreeable Wakala Plans. The audience is completely financed, and you may earnestly giving mortgages in this four working days off app inside round the really provinces. Simply click lower than for more information.
The building blocks for Islamic Funds
When you look at the , using my three pupils increasing upwards, my partner and i chose to disperse back into Canada of Qatar, where we’d resided given that 2007. Considering my personal earlier providers and you may educational feel, I had planned to initiate an administration consulting team. Although not, whenever i started initially to create my personal community when you look at the Canada, I discovered the very thought of halal mortgages, while the dearth of them across the country. Becoming Muslim, and having lived over an excellent ic loans keeps growing in the a keen unprecedented price, which piqued my personal attract, and i also decided to look to the getting Shariah-certified mortgages so you’re able to Canadian home customers.
After the half a year off detailed research and you may those conferences which have Canadian actual-home, financial, financial and you can financial functions benefits, I discovered that Canadian economic and you will regulating ecosystem is ready with pressures facing Islamic loans potential. Since a Muslim, operator, but the majority notably children individual looking another type of home for the Canada, I thought i’d take on the problem of fabricating halal mortgages offered at scale getting my fellow Canadian Muslims. Canada’s step 1.6 million Muslims portray eight hundred,000 households just who, up to now, run out of entry to institutional-amounts Shariah-agreeable funding. Furthermore, my personal studies have confirmed that many of this type of Muslims had been sufferers out of malpractice and possibly even swindle as a result of opportunists looking to generate winnings contained in this community.
Having God’s grace, loans Orange Beach after the five a lot of time numerous years of work, we issued all of our very first halal financial into the 30th , and get given many more as! I really believe that listed here is the answer to Canada’s Islamic family-money pressures, and i hope one EQRAZ’s providing match to the pleasure regarding my personal other Canadian Muslims.
An Engineer’s look at Islamic Finance
That have spent for the past fifteen years from inside the framework and you will oil & gas qualities for the Qatar, the difficulty of Islamic fund during the an american financial design reminds myself regarding a good cofferdam a housing oriented inside a body off drinking water to let the new enclosed area become pumped out. It moving creates a dry doing work environment so that the works can be achieved securely. Cofferdams are commonly used in build otherwise repair regarding permanent dams and you can, in my opinion, the analogy looks suitable.
The sea means the field of notice-created finance that individuals live in, the brand new cofferdam represents the relatively small yet , increasing Islamic fund world, while the action from putting liquid out from the cofferdam represents new jobs from really-prepared Islamic monetary advantages to help you purify and build Islamic funds by the more and more deleting the rest conventional loans issue from the inside brand new Islamic loans globe.
Identical to an effective cofferdam, creating a space for Islamic finance to expand necessitates the function so you’re able to in addition keep values regarding Shariah-conformity while you are operating in this Canadian legislation and after the statutes of the property as far as you’ll be able to in the place of cracking Islamic standards. It is far from the finish county but a step on a holiday to the a world rather than riba.
Because the an engineer, an actuary, and you can an exercising Muslim, We decide to submit me for the maximum standards of top-notch carry out, visibility and you can Jesus-dreading trustworthiness from this travels, and i look ahead to my personal fellow Canadian Muslims joining myself about this excursion.
Facts About The Symbolization
The new EQRAZ symbol is created because the a keen 7-sided Wipe-el-Hizb, along with knows just like the Islamic Superstar, that’s an invaluable Islamic symbol which was regularly help in the fresh recitation of Qur’an and you will, as a result, recognized as an important part from a good Muslim’s day-to-go out lives. Its reported that ???? , this new Arabic keyword to have green, is used within its variations seven minutes on Holy Quran to help you portray the brand new eight doors to Jannah (heaven), which happen to be furthermore portrayed from the 7 edges of your Rub-el-Hizb.
Inside the figure, EQRAZ is created into the old Kufic script widely used within the Islamic performs, having emails produced from upright lines and you will right angles. Mathematical and you will square Kufic molds had been popular during the Islamic frameworks. With this specific Kufic layout inside the EQRAZ’s symbol lovers brand new EQRAZ brand which have Islamic frameworks otherwise, told you one other way, Islamic housing EQRAZ’s finest business.
Brand new logo in addition to means EQRAZ’s intent so you’re able to adhere both to help you Shariah and you may Canadian laws and regulations and ethics without any twists, transforms otherwise compromises. Told you another way, EQRAZ might possibly be straight-forward and clear featuring its readers, score compliance having Shariah standards right, and attract the customers’ believe and you can sensitivities.
In the long run, the latest navy-blue shade of the sign stands for breadth, solutions and you can balances. So it characterizes the standard of the folks and you can system EQRAZ has actually built to provide its clients with its halal investment items.
