ENGEQRAZ are very happy to offer you halal a mortgage by way of it’s 100% Shariah- and AAOIFI-certified month-to-month Murabaha mortgage unit. EQRAZ’s Murabaha financial allows customers to close the home loan at any big date by paying out of just the leftover prominent and you can as much as three months out of earnings as a charge. Term belongs in order to your, providing reassurance that your residence is it’s your own personal. EQRAZ’ sourced elements of investment was 100% halal, received because of Shariah-certified, AAOIFI-certified Wakala Preparations. We’re fully funded, and definitely providing mortgages within this four business days out-of software within the round the most provinces. Mouse click less than for more information.
The foundation for Islamic Finance
During the , with my about three people growing upwards, my partner and i chose to disperse back once again to https://paydayloanalabama.com/pike-road/ Canada away from Qatar, where we’d stayed as 2007. Predicated on my early in the day providers and you may academic sense, I got wanted to initiate a management consulting organization. Yet not, as i started initially to generate my community into the Canada, I came across the very thought of halal mortgages, in addition to dearth of them all over the country. Are Muslim, and having existed more than a great ic money continues to grow during the a keen unmatched rates, which piqued my appeal, and that i decided to look into the delivering Shariah-certified mortgages to Canadian a residential property buyers.
After the half a year from thorough lookup and dozens of conferences which have Canadian genuine-home, home loan, financial and you may financial characteristics professionals, I realized that the Canadian financial and you can regulating ecosystem is mature which have pressures facing Islamic funds potential. As good Muslim, a business owner, but most significantly children individual seeking a new family into the Canada, I decided to undertake the challenge of developing halal mortgages offered at size for my fellow Canadian Muslims. Canada’s step 1.6 mil Muslims show 400,000 houses who, thus far, lack the means to access organization-level Shariah-agreeable investment. Also, my personal research has confirmed that many of such Muslims was in fact sufferers out-of malpractice and perhaps even ripoff as a result of opportunists trying to make winnings inside world.
With God’s grace, following five long numerous years of performs, we awarded our very first halal home loan on the 30th , and just have provided many more while the! I sincerely accept that listed here is the response to Canada’s Islamic home-money pressures, and that i hope one to EQRAZ’s giving suits towards the pleasure out of my fellow Canadian Muslims.
An enthusiastic Engineer’s look at Islamic Loans
That have invested during the last fifteen years in framework and you can oil & fuel services into the Qatar, the difficulty away from Islamic finance from inside the a western banking design reminds myself out of a great cofferdam an enclosure created within this a body regarding h2o to allow the latest enclosed urban area to-be pumped away. That it putting produces a dry doing work environment so that the really works can be done safely. Cofferdams can be useful for construction otherwise resolve off permanent dams and you will, for me, new example seems suitable.
The sea is short for the industry of desire-established funds that people reside in, new cofferdam represents the new relatively little yet , broadening Islamic financing industry, in addition to step out of putting drinking water out of the cofferdam means the newest jobs out-of better-wishing Islamic financial advantages in order to purify and develop Islamic finance from the progressively removing the remainder conventional funds factors from the inside the brand new Islamic loans industry.
Identical to an excellent cofferdam, starting a gap getting Islamic financing to enhance necessitates the ability so you can as well keep prices regarding Shariah-conformity when you are functioning within this Canadian legislation and you may after the regulations of residential property as far as possible in the place of cracking Islamic standards. It’s not the finish condition however, a step on vacation to your a scene rather than riba.
Since an engineer, an enthusiastic actuary, and you can a training Muslim, We plan to fill in me personally towards highest possible standards away from elite group run, transparency and you will Goodness-dreading honesty through this travels, and that i anticipate my fellow Canadian Muslims signing up for myself about journey.
Tale Trailing All of our Icon
New EQRAZ signal is designed while the a keen eight-sided Scrub-el-Hizb, including understands since Islamic Star, that’s a valuable Islamic symbol that has been used to aid in the latest recitation of Qur’an and you will, as such, thought to be an essential part from a beneficial Muslim’s big date-to-date lifetime. It is reported that ???? , this new Arabic term to have green, is employed within its variations seven moments from the Holy Quran to help you portray the brand new 7 gates so you can Jannah (heaven), being similarly illustrated because of the eight corners of one’s Wipe-el-Hizb.
Inside the profile, EQRAZ is written inside the old Kufic software commonly used from inside the Islamic functions, having characters made out of straight lines and you can right bases. Mathematical and rectangular Kufic molds were commonly used within the Islamic structures. With this particular Kufic concept in EQRAZ’s signal partners brand new EQRAZ brand name that have Islamic structures otherwise, said one other way, Islamic housing EQRAZ’s perfect business.
New signal plus means EQRAZ’s intent so you’re able to adhere one another so you’re able to Shariah and you can Canadian guidelines and you can ethics without the twists, turns or compromises. Told you another way, EQRAZ would be straight-forward and you will clear using its clients, get conformity having Shariah standards right, and you may attract the customers’ faith and you may sensitivities.
In the long run, the latest navy-bluish color of new logo signifies breadth, solutions and you may balance. So it characterizes the caliber of the individuals and you can infrastructure EQRAZ has developed to provide their clients with its halal investment factors.
