EQRAZ try very happy to offer halal a mortgage courtesy its 100% Shariah- and you can AAOIFI-certified month-to-month Murabaha mortgage tool. EQRAZ’s Murabaha financial lets users to close off the financial any kind of time date if you are paying regarding only the left principal and you will just as much as about three months out of finances because a fee. Term belongs only to your, getting assurance that your particular home is truly your own. EQRAZ’ resources of money was 100% halal, received as a result of Shariah-specialized, AAOIFI-compliant Wakala Preparations. The audience is fully financed, and you may earnestly giving mortgages within four working days away from app in round the very provinces. Simply click less than for more information.
The inspiration for Islamic Financing
In the , with my around three pupils broadening up, my spouse and i chose to circulate back to Canada off Qatar, in which we’d lived since 2007. According to my prior business and you will instructional feel, I got wished to start an administration consulting business. not, as i started initially to make my personal network from inside the Canada, I came across the very thought of halal mortgages, and the scarcity of those nationwide. Becoming Muslim, and achieving stayed over a beneficial ic financing keeps growing at a keen unprecedented price, this piqued my personal notice, and that i chose to start to look into the taking Shariah-compliant mortgages so you’re able to Canadian a house customers.
Adopting the half a year from thorough look and you can those group meetings which have Canadian actual-house, mortgage, banking and you will economic properties gurus, I came across your Canadian economic and you may regulating ecosystem was mature that have pressures facing Islamic funds potential. As a Muslim, an entrepreneur, but most significantly a household person finding a different household into the Canada, I decided to undertake the problem of creating halal mortgages available at size getting my personal fellow Canadian Muslims. Canada’s step 1.six mil Muslims depict 400,000 houses whom, thus far, run out of the means to access organization-degrees Shariah-agreeable financial support. Moreover, my personal studies have affirmed that many of these types of Muslims was indeed victims regarding malpractice and possibly even fraud at the hands of opportunists seeking create payouts inside industry.
Having God’s grace, following four long several years of performs, i granted all of our earliest halal home loan to the 30th , as well as have provided a lot more because the! I really believe that is the answer to Canada’s Islamic home-funding pressures, and i also pray you to definitely EQRAZ’s offering suits to the satisfaction out of my personal fellow Canadian Muslims.
An enthusiastic Engineer’s view of Islamic Financing
Which have invested for the last 15 years for the construction and you will petroleum & gasoline characteristics from inside the Qatar, the problem off Islamic loans during the an american banking design reminds myself of a cofferdam a housing centered within this a body of liquid so that the newest closed city as moved out. Which putting brings a dry functioning ecosystem therefore the performs can be carried out securely. Cofferdams are generally useful build or resolve away from long lasting dams and you may, in my opinion, the example seems suitable.
The ocean signifies the world of appeal-based fund we inhabit, new cofferdam stands for the new seemingly lightweight but really growing Islamic loans industry, together with action off moving liquids from the cofferdam represents the latest perform out-of well-wishing Islamic economic pros in order to cleanse and you can build Islamic money by progressively deleting the remaining old-fashioned money points from the inside the Islamic loans world.
Same as a great cofferdam, creating a space getting Islamic finance to expand requires the ability to help you as well keep principles from Shariah-conformity whenever you are doing work in this Canadian legislation and you can adopting the laws and regulations of your belongings as far as it is possible to as opposed to breaking Islamic standards. It isn’t the finish county but a step on vacation to the a world in place of riba.
Because the an engineer, an actuary, and a practicing Muslim, I intend to fill in myself on the highest possible conditions of professional carry out, visibility and you fast cash loans Phenix City can Jesus-dreading trustworthiness through this travel, and i also enjoy my other Canadian Muslims signing up for me personally with this trip.
Facts At the rear of Our Logo
The EQRAZ representation is made as the a keen eight-sided Scrub-el-Hizb, together with understands as the Islamic Star, that’s an important Islamic symbol that was always help in the recitation of Qur’an and you can, as a result, thought to be a significant part away from a Muslim’s time-to-day lives. Its stated that ???? , the Arabic keyword having green, can be used with its variations 7 moments about Holy Quran to depict the fresh eight gates to Jannah (heaven), which are also illustrated by the eight sides of the Scrub-el-Hizb.
From inside the shape, EQRAZ is written inside old Kufic software popular inside Islamic works, which have emails produced from upright outlines and you can best basics. Geometric and you can rectangular Kufic shapes was basically commonly used from inside the Islamic architecture. With this specific Kufic design in the EQRAZ’s image associates the fresh EQRAZ brand name which have Islamic structures otherwise, said one other way, Islamic housing EQRAZ’s perfect organization.
This new icon also means EQRAZ’s intention so you’re able to heed each other so you’re able to Shariah and you may Canadian laws and you will stability without the twists, transforms or compromises. Told you one other way, EQRAZ was straight-forward and you may transparent using its customers, get compliance that have Shariah criteria right, and appeal to all of our customers’ faith and you will sensitivities.
In the end, this new navy-bluish colour of the latest symbol is short for depth, options and balance. So it characterizes the caliber of the folks and infrastructure EQRAZ keeps built to incorporate the customers featuring its halal money points.