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EQRAZ try pleased to present halal home financing through it’s 100% Shariah- and you will AAOIFI-agreeable month-to-month Murabaha home loan equipment. EQRAZ’s Murabaha home loan lets people to close its financial at any day by paying of only the kept dominant and you will everything three days off funds just like the a charge. Term belongs simply to your, providing peace of mind that the house is truly a. EQRAZ’ resources of funding try 100% halal, received as a consequence of Shariah-formal, AAOIFI-compliant Wakala Arrangements. We have been fully funded, and you may actively providing mortgages within four working days out-of software inside across the extremely provinces. Mouse click lower than for more information.
The inspiration getting Islamic Financing
When you look at the , with my three people increasing upwards, my partner and i chose to move back again to Canada from Qatar, in which we’d lived because the 2007. Predicated on my personal previous organization and you can informative experience, I got planned to begin an administration contacting organization. not, whenever i started to develop my circle for the Canada, I came across the thought of halal mortgages, while the dearth of these all over the country. Getting Muslim, and achieving resided over good ic financing keeps growing at an enthusiastic unprecedented rates, which piqued my personal appeal, and that i decided to begin looking for the bringing Shariah-certified mortgage loans in order to Canadian a residential property people.
After the 6 months of comprehensive browse and you may dozens of conferences having Canadian actual-home, mortgage, banking and monetary functions pros, I discovered that the Canadian monetary and you can regulating environment was ripe that have demands facing Islamic finance solutions. Since the an effective Muslim, operator, but the majority notably a family group people searching for a separate domestic during the Canada, I decided to deal with the challenge of fabricating halal mortgage loans offered by level to possess my personal fellow Canadian Muslims. Canada’s step one.six million Muslims represent 400,000 domiciles just who, up until now, lack access to institutional-degree Shariah-agreeable financing. More over, my research has affirmed that many of these Muslims was indeed sufferers out of malpractice and perhaps even con at the hands of opportunists looking to build winnings inside world.
Which have God’s elegance, adopting the five a lot of time many years of works, we awarded the first halal financial for the 30th , and then have issued a lot more given that! I really believe that the following is the solution to Canada’s Islamic home-financial support demands, and that i pray you to EQRAZ’s providing match to the satisfaction away from my fellow Canadian Muslims.
An enthusiastic Engineer’s view of Islamic Funds
With invested for the past 15 years when you look at the framework and you will oil & gas characteristics into the Qatar, the issue away from Islamic money during Rosa Alabama cash advance the an american financial design reminds myself out-of good cofferdam an enclosure founded in this a body out of h2o so that the fresh new enclosed area is pumped away. Which pumping brings a dry operating environment therefore the work can be done securely. Cofferdams are commonly employed for build or fix off long lasting dams and you will, if you ask me, the fresh analogy appears suitable.
The ocean signifies the industry of attention-created funds that individuals live-in, the brand new cofferdam stands for the fresh seemingly little yet , growing Islamic finance business, plus the step out of moving liquid out of the cofferdam stands for the perform out-of well-waiting Islamic financial experts so you’re able to purify and you will grow Islamic fund by more and more removing the remaining traditional loans factors from within the latest Islamic financing industry.
Identical to a good cofferdam, doing a gap to have Islamic funds to grow requires the feature so you’re able to on top of that continue prices regarding Shariah-compliance when you find yourself working within Canadian legislation and you may adopting the guidelines of one’s house as far as you’ll without cracking Islamic prices. It is really not the conclusion condition however, one step on a trip for the a scene versus riba.
As an engineer, an actuary, and you can a doing Muslim, I propose to complete me into highest possible requirements out of top-notch conduct, visibility and God-fearing sincerity by this journey, and i also look ahead to my personal other Canadian Muslims joining me on this travels.
Tale Behind All of our Image
The EQRAZ signal is created given that an eight-sided Wipe-el-Hizb, and additionally understands because the Islamic Celebrity, that’s a very important Islamic icon that was always aid in the new recitation of one’s Qur’an and you will, as a result, named a significant part out-of an excellent Muslim’s day-to-day lives. Its reported that ???? , brand new Arabic word having green, can be used with its different forms eight moments in the Holy Quran so you’re able to represent the fresh eight gates so you can Jannah (heaven), which happen to be furthermore illustrated of the seven corners of your own Scrub-el-Hizb.
Within the contour, EQRAZ is written into the old Kufic software popular for the Islamic performs, with characters produced from straight outlines and correct angles. Mathematical and you may square Kufic molds had been commonly used in Islamic architecture. With this specific Kufic layout during the EQRAZ’s icon couples the new EQRAZ brand name that have Islamic tissues otherwise, said another way, Islamic housing EQRAZ’s perfect company.
This new logo in addition to represents EQRAZ’s intention so you can heed each other to Shariah and you can Canadian regulations and you will stability without the twists, converts or compromises. Said one other way, EQRAZ might be straight-forward and you can clear along with its subscribers, get conformity which have Shariah standards right, and attract our very own customers’ trust and sensitivities.
Ultimately, new navy-bluish color of the new icon stands for breadth, solutions and you may balance. So it characterizes the quality of individuals and you may infrastructure EQRAZ features put together to incorporate the clients with its halal funding affairs.