EQRAZ is pleased to provide you with halal a home loan owing to its 100% Shariah- and you may AAOIFI-certified monthly Murabaha financial device. EQRAZ’s Murabaha home loan lets consumers to close off their home loan any kind of time big date by paying out of just the left dominant and you can up to three months out of money since a charge. Identity belongs in order to you, delivering reassurance that the residence is really your own personal. EQRAZ’ sourced elements of funding is actually 100% halal, gotten as a consequence of Shariah-certified, AAOIFI-certified Wakala Arrangements. We’re completely financed, and positively providing mortgage loans in this five business days away from app within the round the very provinces. Click below to learn more.
The building blocks for Islamic Financing
From inside the , with my about three youngsters broadening upwards, my spouse and i made a decision to flow back again to Canada of Qatar, where we had resided just like the 2007. Based on my prior organization and informative feel, I got desired to begin a management consulting providers. But not, as i began to create my community during the Canada, I found the thought of halal mortgage loans, and scarcity of those nationwide. Becoming Muslim, and achieving stayed more an effective ic funds keeps growing in the an unprecedented rate, so it piqued my appeal, and i made a decision to look with the bringing Shariah-agreeable mortgage loans to help you Canadian a home customers.
Following the 6 months from thorough browse and you can dozens of group meetings having Canadian real-house, mortgage, financial and economic services advantages, I realized that Canadian financial and regulating environment was ready which have challenges against Islamic financing possibilities. Since a good Muslim, a business owner, but most significantly a family individual shopping for a new home during the Canada, I thought i’d accept the problem of fabricating halal mortgages available at measure to have my personal fellow Canadian Muslims. Canada’s 1.six mil Muslims depict eight hundred,000 homes just who, at this point, use up all your usage of institutional-grade Shariah-certified money. Additionally, my personal research has verified that many of this type of Muslims was in fact sufferers out-of malpractice and possibly also scam at the hands of opportunists trying build profits within industry.
With God’s grace, pursuing the five enough time several years of work, we granted our very own basic halal mortgage to your 30th , and also granted many others while the! I really believe that let me reveal the response to Canada’s Islamic home-financing challenges, and i hope you to EQRAZ’s providing suits on pleasure out of my other Canadian Muslims.
An enthusiastic Engineer’s look at Islamic Financing
With invested for the last 15 years from inside the design and oils & energy qualities in the Qatar, the difficulty regarding Islamic funds from inside the an american financial design reminds me personally away from an excellent cofferdam an enclosure created in this a body off water to allow the new enclosed city are moved aside. So it working brings a dry working environment so that the really works can be achieved securely. Cofferdams are commonly utilized for design or fix of long lasting dams and you can, for me, the latest analogy looks appropriate.
The ocean signifies the world of appeal-based loans that individuals live-in, the fresh cofferdam is short for the new seemingly lightweight yet , increasing Islamic funds industry, and the step off working liquids out from the cofferdam stands for the new services of well-prepared Islamic monetary benefits to help you purify and you can build Islamic financing of the increasingly deleting the remainder conventional finance facets from inside the latest Islamic funds world.
Identical to a good cofferdam, performing a gap to own Islamic funds to grow necessitates the ability to at the same time continue beliefs away from Shariah-compliance whenever you are functioning in this Canadian regulations and you can pursuing the statutes of your land in terms of you’ll instead of breaking Islamic principles. It is not the end condition however, one step on vacation on the a world in place of riba.
As a professional, an actuary, and you will a doing Muslim, I propose to fill in myself toward highest possible requirements from elite group make, visibility and you will Jesus-dreading trustworthiness from this excursion, and that i enjoy my personal other Canadian Muslims joining me personally about this excursion.
Facts Behind Our Signal
The fresh EQRAZ expression is made since the a keen eight-sided Scrub-el-Hizb, as well as understands since Islamic Superstar, that is a valuable Islamic symbol that has been accustomed help in the new recitation of your Qur’an and you can, therefore, seen as an important part out-of a Muslim’s date-to-big date lifetime. Its reported that ???? , the newest Arabic phrase to have green, is used in its different forms 7 moments on Holy Quran so you can represent the latest seven doors to Jannah (heaven), which can be furthermore portrayed of the seven edges of the Scrub-el-Hizb.
When you https://paydayloanalabama.com/uriah/ look at the shape, EQRAZ is created in ancient Kufic program commonly used from inside the Islamic performs, having characters produced from upright outlines and proper angles. Mathematical and you can rectangular Kufic molds was in fact popular into the Islamic structures. Using this Kufic design inside the EQRAZ’s sign lovers the brand new EQRAZ brand name with Islamic buildings or, said one other way, Islamic housing EQRAZ’s primary company.
The newest icon along with signifies EQRAZ’s purpose in order to adhere each other so you can Shariah and Canadian guidelines and you may integrity without any twists, turns otherwise compromises. Told you one other way, EQRAZ could well be straight-forward and you may clear featuring its website subscribers, score compliance having Shariah requirements right, and you will interest our customers’ trust and you can sensitivities.
Fundamentally, new navy-bluish shade of new representation represents breadth, options and you will balances. It characterizes the standard of the individuals and system EQRAZ enjoys build to provide its readers along with its halal financing facts.