Halal mortgage explainer: What is a halal mortgage, why is it important, and who can apply?

The Canadian government plans to introduce halal mortgages to help Muslim Canadians access homeownership. Halal mortgages comply with Islamic law by avoiding interest payments. Different types include Murabaha, Ijara, and Diminishing Musharakah. EQRAZ has developed its own Sharia-compliant mortgage product approved by the Sharia council.

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