What makes it Halal?
Interest-Free (No Riba)
Under Islamic law, Riba (or interest) is prohibited as it's an exploitative arrangement that keeps the poor stuck with ever-growing debts while the rich increase their wealth without creating any extra value.
Islamic Compliant Transactions
Our investment, finance and mortgage products are based on Shariah compliant underlying principles including Murabaha (cost plus sale), and Musharaka (partnership).
Shariah Governance
Three layers of Shariah governance:
Internal Shariah compliance function
Active three-member Shariah Supervisory Board
Independent external Shariah Auditor
Clear & Transparent Contracts
Contracts are fair, clear, and transparent. Both regulatory and Shariah compliance requirements have been reviewed by our legal and Shariah teams to ensure relevant compliance. Terms are laid up front in clear and simple language.
Halal Certifications
Our Shariah Supervisory Board (SSB) have carefully reviewed the structuring and documentation of the product and issued a certificate of Shariah compliance.
Islamic Compliance Certificates
Manzil Murabaha Financing Product
— Ontario
Islamic Compliance Certificates
Manzil Musharaka Financing Product
— Ontario
End-to-end Shariah compliance
Fixed or variable financing rates with terms up to 25 years
