The building blocks getting Islamic Loans

In , using my three youngsters broadening upwards, my partner and i decided to move back once again to Canada out of Qatar, where we had resided as the 2007. Considering my previous organization and you will academic feel, I'd planned to begin an administration asking providers. Although not, once i began to create my personal community when you look at the Canada, I found the idea of halal mortgage loans, while the scarcity of these nationwide. Becoming Muslim, and achieving existed over an excellent ic finance continues to grow at an unprecedented speed, so it piqued my desire, and that i decided to start to look towards delivering Shariah-compliant mortgage loans to help you Canadian a house buyers.

After the 6 months off extensive lookup and dozens of group meetings that have Canadian actual-home, financial, banking and financial qualities positives, I ran across your Canadian financial and you will regulatory ecosystem try ready that have demands up against Islamic finance opportunities. Since the a good Muslim, an entrepreneur, but most notably a household individual seeking another type of household for the Canada, I decided to undertake the situation of developing halal mortgage loans offered by scale https://paydayloanalabama.com/yellow-bluff/ to possess my personal other Canadian Muslims. Canada's step 1.six million Muslims depict 400,000 households who, so far, lack use of organization-level Shariah-compliant financing. Additionally, my studies have confirmed a large number of these types of Muslims had been victims regarding malpractice and possibly actually scam as a result of opportunists trying create profits within industry.

Which have God's grace, following the five much time several years of works, i granted the very first halal financial on 30th , and have awarded a lot more just like the! I really believe that listed here is the answer to Canada's Islamic house-resource challenges, and i pray one EQRAZ's providing match towards the satisfaction off my personal fellow Canadian Muslims.

An Engineer's view of Islamic Fund

Which have spent for the last 15 years inside design and oils & gasoline services in Qatar, the situation out-of Islamic loans for the an american financial model reminds me personally away from an effective cofferdam a housing built within this a human anatomy regarding drinking water to allow the newest enclosed area is pumped out. This working brings a dry performing ecosystem therefore, the really works is possible securely. Cofferdams are commonly used for construction or resolve out-of permanent dams and you can, to me, new analogy appears suitable.

The ocean signifies the realm of attention-mainly based money we are now living in, the new cofferdam stands for the fresh seemingly smaller yet , expanding Islamic financing community, plus the action of putting h2o out from the cofferdam means the fresh new work away from really-prepared Islamic economic positives so you can cleanse and you will build Islamic money because of the more and more deleting the remainder antique fund factors from the inside brand new Islamic loans globe.

Identical to a good cofferdam, undertaking a space to possess Islamic money to enhance necessitates the element to at exactly the same time remain standards from Shariah-compliance if you're operating inside Canadian laws and regulations and you may following laws of the belongings as much as you are able to versus breaking Islamic prices. It is not the conclusion condition however, one step on a holiday into a scene without riba.

While the a professional, an enthusiastic actuary, and you may a training Muslim, I intend to submit me to the highest possible criteria of elite make, openness and Jesus-dreading trustworthiness through this trip, and i also look forward to my fellow Canadian Muslims signing up for me personally about this trip.

Tale At the rear of Our very own Expression

The fresh new EQRAZ icon is created just like the an enthusiastic seven-sided Scrub-el-Hizb, and additionally knows due to the fact Islamic Celebrity, that's a very important Islamic symbol that has been regularly aid in the fresh recitation of one's Qur'an and, therefore, recognized as an essential part of a great Muslim's big date-to-time lives. It is reported that ???? , the brand new Arabic term to possess green, can be used within its different forms 7 minutes from the Holy Quran so you can depict the new seven doorways to Jannah (heaven), that are furthermore depicted by 7 corners of the Rub-el-Hizb.

In the contour, EQRAZ is written from inside the ancient Kufic program widely used during the Islamic really works, that have emails created from upright contours and proper angles. Mathematical and you can rectangular Kufic molds were widely used when you look at the Islamic buildings. With this Kufic style in the EQRAZ's expression partners the newest EQRAZ brand name with Islamic buildings or, said another way, Islamic housing EQRAZ's primary company.

The newest icon including means EQRAZ's intention so you can adhere each other so you can Shariah and Canadian laws and regulations and you will ethics without any twists, transforms or compromises. Said one other way, EQRAZ was straight-forward and you will transparent having its readers, rating conformity that have Shariah criteria right, and you may interest all of our customers' trust and you will sensitivities.

In the long run, the fresh new navy-bluish colour of the fresh new logo stands for depth, systems and you can balance. That it characterizes the grade of people and you will system EQRAZ features make to incorporate the subscribers with its halal financial support affairs.