Islamic Mortgage solution based on a shared ownership concept called ‘musharaka.’
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Interest based financing transaction are prohibited for Muslims. Therefore, buying a house in Ontario is very difficult for Muslims and others alike. A Credit Union Bank Assiniboine in Manitoba is offering Islamic Mortgage based on Musharaka. this is how Musharaka works.
Fortunately, a local credit union bank in Waterloo is willing to offer Islamic Mortgage similar to Assiniboine credit union. We would like all our Muslims brothers/sisters to sign this petition to show our interest. let's make this happen. JazakAllah Kheern. May Allah protect us all from interest-based financing.
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