EQRAZ was happy to offer you halal a home loan compliment of its 100% Shariah- and you can AAOIFI-certified monthly Murabaha home loan tool. EQRAZ’s Murabaha financial allows users to close the financial at any time if you are paying of precisely the leftover principal and as much as around three months out-of profit just like the a fee. Title belongs just to you, providing comfort your home is it’s your. EQRAZ’ resources of funding is actually 100% halal, obtained thanks to Shariah-official, AAOIFI-compliant Wakala Agreements. We are totally funded, and you can positively providing mortgages inside five business days regarding software in round the extremely provinces. Mouse click below to find out more.
The inspiration for Islamic Finance
Within the , using my about three people increasing upwards, my wife and i decided to flow back again to Canada out-of Qatar, where we had stayed just like the 2007. Based on my prior company and educational experience, I had desired to start an administration consulting business. not, as i started to make my personal circle when you look at the Canada, I found the very thought of halal mortgage loans, and also the dearth of these across the country. Becoming Muslim, and achieving stayed more than a great ic funds is growing in the an unmatched price, it piqued my personal appeal, and that i made a decision to start looking toward getting Shariah-certified mortgages to help you Canadian a residential property buyers.
After the here half a year out-of thorough research and you may all those group meetings with Canadian actual-estate, home loan, financial and financial characteristics positives, I ran across that Canadian economic and you will regulating environment is actually mature with demands up against Islamic funds solutions. While the a beneficial Muslim, a business owner, but the majority importantly a family group people looking a unique household inside the Canada, I decided to deal with the issue of developing halal mortgage loans available at measure to own my personal other Canadian Muslims. Canada’s 1.six billion Muslims represent 400,000 property which, so far, run out of accessibility organization-degrees Shariah-certified investment. Furthermore, my personal studies have verified a large number of these types of Muslims was subjects of malpractice and maybe actually con as a result of opportunists seeking generate profits within this business.
Having God’s grace, following five much time numerous years of functions, we given our earliest halal mortgage on the 30th , and then have given even more since the! I really believe that listed here is the answer to Canada’s Islamic home-financial support demands, and i hope you to EQRAZ’s offering meets to your satisfaction regarding my fellow Canadian Muslims.
An enthusiastic Engineer’s look at Islamic Fund
Having spent for the last fifteen years inside construction and you will oil & gasoline properties during the Qatar, the difficulty away from Islamic money into the a western financial design reminds me personally off good cofferdam a housing mainly based within a human anatomy away from liquid to let the fresh new closed town to get moved away. It putting brings a dry performing ecosystem therefore the works is possible securely. Cofferdams are generally used for framework otherwise resolve away from permanent dams and you may, in my opinion, the newest example seems compatible.
The ocean represents the world of focus-dependent loans we reside in, this new cofferdam stands for the newest seemingly small yet broadening Islamic funds community, and the step of pumping liquids outside of the cofferdam represents the new work out of really-prepared Islamic financial experts to help you purify and you will grow Islamic financing of the more and more deleting the remainder antique fund issue from within the newest Islamic financing industry.
Identical to a cofferdam, starting a gap for Islamic fund to grow necessitates the ability so you’re able to as well continue values regarding Shariah-compliance if you find yourself operating within this Canadian guidelines and pursuing the regulations of one’s residential property in terms of you can easily instead of cracking Islamic values. It is far from the conclusion condition but a step on a holiday to your a scene versus riba.
Because an engineer, an actuary, and you may a training Muslim, We want to complete me towards highest possible requirements of top-notch carry out, openness and you can God-dreading sincerity through this travel, and i anticipate my personal other Canadian Muslims signing up for myself about excursion.
Facts About All of our Expression
Brand new EQRAZ icon is designed because the a keen eight-sided Wipe-el-Hizb, along with understands as Islamic Celebrity, that is an invaluable Islamic icon which had been accustomed help in the brand new recitation of your Qur’an and you can, as such, seen as an important part off good Muslim’s go out-to-time existence. It is reported that ???? , the new Arabic term having green, can be used within its different forms 7 minutes on the Holy Quran to represent the fresh new eight doorways to help you Jannah (heaven), which can be similarly represented by the 7 edges of one’s Wipe-el-Hizb.
For the contour, EQRAZ is written inside ancient Kufic software widely used in the Islamic really works, with letters created from upright traces and proper basics. Mathematical and you will rectangular Kufic shapes was basically popular when you look at the Islamic architecture. With this particular Kufic design in the EQRAZ’s symbol associates the brand new EQRAZ brand with Islamic frameworks or, said one other way, Islamic housing EQRAZ’s best company.
The fresh new image along with means EQRAZ’s intention so you’re able to adhere one another in order to Shariah and you may Canadian laws and you can ethics without any twists, turns otherwise compromises. Said another way, EQRAZ would be straight-forward and you may transparent using its clients, score compliance with Shariah conditions right, and appeal to the customers’ believe and sensitivities.
Finally, new navy-bluish shade of the latest signal represents breadth, assistance and stability. So it characterizes the quality of individuals and you will system EQRAZ features make to include their clients with its halal resource issues.
