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EQRAZ try very happy to offer you halal a home loan due to its 100% Shariah- and you will AAOIFI-compliant monthly Murabaha home loan device. EQRAZ’s Murabaha mortgage lets users to shut its mortgage any kind of time day if you are paying off precisely the left dominant and you can up to about three days away from cash as a charge. Identity belongs simply to your, getting satisfaction your house is it is yours. EQRAZ’ types of capital was 100% halal, gotten by way of Shariah-authoritative, AAOIFI-agreeable Wakala Arrangements. Our company is fully funded, and actively providing mortgage loans within four business days out-of software inside all over very provinces. Simply click lower than for more information.
The foundation for Islamic Finance
In , using my around three college students expanding up, my partner and i decided to disperse back to Canada regarding Qatar, where we’d resided as the 2007. Based on my past business and you will instructional experience, I had planned to initiate a management contacting organization. Although not, while i began to produce my personal network in the Canada, I found the thought of halal mortgage loans, together with scarcity of these nationwide. Being Muslim, and having lived more than good ic fund continues to grow during the an unmatched price, this piqued my attention, and i also made a decision to start looking to the providing Shariah-agreeable mortgage loans to Canadian home customers.
Adopting the half a year off extensive browse and you will those group meetings having Canadian actual-property, financial, banking and you may economic features professionals, I ran across the Canadian monetary and you may regulating ecosystem was ripe which have challenges against Islamic money ventures. Because an effective Muslim, operator, but the majority notably a family people trying to find loans Toxey a special house inside the Canada, I decided to deal with the situation of fabricating halal mortgages offered at measure to own my personal fellow Canadian Muslims. Canada’s step 1.six mil Muslims show eight hundred,000 households which, up to now, use up all your entry to organization-degrees Shariah-compliant financing. Also, my studies have affirmed that many of these Muslims was indeed victims out-of malpractice and perhaps also swindle at the hands of opportunists looking to create winnings within globe.
With God’s elegance, following the five a lot of time several years of performs, we issued all of our first halal mortgage towards 30th , and then have issued additional while the! I really accept that the following is the solution to Canada’s Islamic home-financing challenges, and i hope you to definitely EQRAZ’s offering suits towards satisfaction out of my personal fellow Canadian Muslims.
An Engineer’s view of Islamic Money
That have invested going back 15 years inside construction and oils & fuel features when you look at the Qatar, the difficulty out-of Islamic finance during the an american financial model reminds myself out-of a good cofferdam a housing created within this a human anatomy away from water so that the new enclosed town as pumped aside. This putting creates a dried out doing work ecosystem so that the work is possible securely. Cofferdams are commonly useful design or fix from long lasting dams and you will, in my opinion, the brand new analogy appears compatible.
The ocean represents the industry of interest-dependent funds that we live-in, the cofferdam means the newest seemingly lightweight yet , broadening Islamic loans business, and action away from pumping water outside of the cofferdam represents the efforts regarding well-waiting Islamic economic benefits to purify and you may develop Islamic financing because of the increasingly deleting the remaining old-fashioned loans issues from inside the fresh new Islamic fund globe.
Just like an effective cofferdam, carrying out a space having Islamic money to expand necessitates the ability in order to concurrently keep principles regarding Shariah-conformity whenever you are doing work within this Canadian statutes and after the legislation of the homes as much as you’ll be able to instead cracking Islamic values. It’s not the finish state but a step on a holiday into the a world in place of riba.
Since a professional, an actuary, and you may an exercising Muslim, We propose to fill in me personally into highest possible criteria out of elite carry out, transparency and you can God-dreading trustworthiness through this journey, and i look forward to my personal fellow Canadian Muslims joining me about journey.
Facts Trailing Our Logo
The EQRAZ symbolization is created since an eight-sided Scrub-el-Hizb, and understands given that Islamic Celebrity, that’s an invaluable Islamic icon which had been accustomed help in the newest recitation of your Qur’an and you can, as a result, recognized as a significant part regarding a good Muslim’s day-to-day lives. Its reported that ???? , the brand new Arabic keyword getting green, is utilized within the different forms seven times from the Holy Quran to help you show the 7 doorways to Jannah (heaven), which happen to be also illustrated because of the seven corners of one’s Wipe-el-Hizb.
Within the shape, EQRAZ is created into the ancient Kufic software popular for the Islamic performs, that have characters created from upright lines and you can right angles. Geometric and square Kufic shapes had been widely used for the Islamic structures. Using this Kufic style for the EQRAZ’s icon associates new EQRAZ brand having Islamic buildings otherwise, told you one other way, Islamic housing EQRAZ’s primary company.
Brand new logo also is short for EQRAZ’s intention so you’re able to adhere each other to help you Shariah and you may Canadian rules and you may integrity without any twists, transforms otherwise compromises. Told you another way, EQRAZ will be straight-forward and you may clear with its subscribers, score compliance which have Shariah requirements right, and you may interest our customers’ trust and you may sensitivities.
Fundamentally, the new navy-bluish color of this new expression stands for depth, options and you will balances. This characterizes the standard of the individuals and you may system EQRAZ have assembled to provide the customers along with its halal money circumstances.