EQRAZ try very happy to give you halal a home loan thanks to it’s 100% Shariah- and you can AAOIFI-certified month-to-month Murabaha home loan product. EQRAZ’s Murabaha mortgage lets customers to shut the mortgage at any big date by paying off precisely the kept principal and you may everything around three days from profit because a fee. Title belongs in order to your, delivering peace of mind that your residence is it really is your. EQRAZ’ resources of financial support was 100% halal, obtained as a result of Shariah-authoritative, AAOIFI-agreeable Wakala Arrangements. Our company is completely financed, and you may actively giving mortgage loans contained in this four working days away from app within the across the very provinces. Click lower than to find out more.
The building blocks to have Islamic Loans
In , using my around three pupils expanding right up, my wife and i decided to disperse to Canada of Qatar, in which we’d resided while the 2007. According to my early in the day providers and you can academic experience, I had desired to initiate a management contacting providers. However, when i started to build my personal system in the Canada, I discovered the very thought of halal mortgages, together with scarcity of those all over the country. Being Muslim, and achieving stayed more an excellent ic funds is growing on an unprecedented price, that it piqued my attention, and i also decided to look for the getting Shariah-agreeable mortgages in order to Canadian a home buyers.
Pursuing the half a year off extensive research and dozens of meetings that have Canadian genuine-property, home loan, financial and you will monetary qualities pros, I realized that the Canadian monetary and you can regulating ecosystem are mature which have challenges against Islamic fund solutions. Due to the fact a Muslim, an entrepreneur, but most notably children person looking for a new domestic in Canada, I thought i’d deal with the challenge of fabricating halal mortgages offered at level to possess my personal other Canadian Muslims. Canada’s step one.6 billion Muslims show 400,000 households exactly who, so far, run out of access to organization-levels Shariah-compliant financing. More over, my studies have verified a large number of these types of Muslims had been sufferers from malpractice and possibly also swindle as a result of opportunists trying generate payouts in this globe.
With God’s grace, after the four long many years of works, i given our very own basic halal financial toward 30th , and possess provided more as the! We sincerely accept that is the response to Canada’s Islamic house-resource pressures, and that i pray that EQRAZ’s offering fits with the satisfaction out-of my personal fellow Canadian Muslims.
A keen Engineer’s look at Islamic Loans
With spent the past 15 years during the structure and you may petroleum & fuel services during the Qatar, the challenge regarding Islamic funds in an american financial design reminds me of an effective cofferdam an enclosure founded in this a human anatomy from h2o so that brand new shut urban area becoming pumped away. That it working brings a dry operating environment so the really works is possible securely. Cofferdams are generally useful for construction otherwise resolve away from long lasting dams and you may, for me, the fresh new analogy appears compatible.
The sea means the world of notice-founded financing we inhabit, the newest cofferdam stands for this new apparently smaller yet , increasing Islamic fund industry, as well as the action off moving liquid from the cofferdam signifies the latest efforts off better-wishing Islamic financial gurus so you’re able to cleanse and expand Islamic loans because of the more and more deleting the remaining antique financing elements from within the latest Islamic finance world.
Just like a cofferdam, performing a gap for Islamic finance to enhance necessitates the element so you can as well continue prices regarding Shariah-conformity if you’re performing in this Canadian rules and you can adopting the laws of the residential property as much as you can in place of cracking Islamic values. It’s not the end condition however, one step on a trip on a scene in the place of riba.
Due to the fact a professional, an actuary, and you can a practicing Muslim, We plan to complete me personally with the maximum requirements from elite make, transparency and you can Goodness-dreading trustworthiness from this trip, and that i enjoy my personal fellow Canadian Muslims signing up for myself on this travels.
Tale At the rear of Our very own Symbol
The latest EQRAZ expression is made just like the a keen eight-sided Scrub-el-Hizb, together with understands as the Islamic Star, that is a valuable Islamic symbol that was accustomed assist in the fresh new recitation of your own Qur’an and you may, as a result, named an important part out of a Muslim’s big date-to-time life. Its stated that ???? , new Arabic phrase to own green, is used in different forms eight moments regarding Holy Quran to help you represent the 7 doorways to Jannah (heaven), that are likewise https://paydayloanalabama.com/union-springs/ illustrated from the eight edges of one’s Scrub-el-Hizb.
In the figure, EQRAZ is written in ancient Kufic software commonly used from inside the Islamic really works, that have emails produced from straight lines and correct angles. Mathematical and you can square Kufic molds were widely used from inside the Islamic architecture. Using this type of Kufic layout into the EQRAZ’s expression associates this new EQRAZ brand which have Islamic buildings otherwise, said one other way, Islamic housing EQRAZ’s perfect organization.
The symbolization plus means EQRAZ’s intention so you’re able to stick to one another so you’re able to Shariah and you can Canadian rules and integrity with no twists, transforms otherwise compromises. Said one other way, EQRAZ might possibly be straight-forward and clear along with its customers, score compliance with Shariah standards right, and attract all of our customers’ trust and sensitivities.
Ultimately, the new navy-blue shade of this new logo signifies breadth, options and you will stability. So it characterizes the quality of people and you will system EQRAZ has come up with to incorporate the members having its halal financial support activities.