Halal mortgage

Halal Mortgage

In a bid to increase access to homeownership, Canada's federal budget mentioned 'halal mortgages'. This announcement by the Trudeau government aims to provide more options for Muslim Canadians who wish to purchase a home while adhering to Islamic principles.

What are Halal Mortgages?

Halal mortgages are financial products that comply with Islamic law, also known as Shariah. Unlike traditional mortgages that involve paying and receiving interest, halal mortgages follow a different structure that is considered compliant with Islamic teachings. This alternative option allows Muslim homebuyers to fulfill their homeownership dreams without compromising their religious beliefs.