Islamic mortgage/finance in Calgary/Alberta

[newcomer]

Hi,

Has anyone got info about reliable Islamic finance/mortgage in Alberta/Calgary.I am looking for a renowned,reliable organization.I have read about ACU s islamic mortgage option but that offers mortgage only for houses bought within Manitoba so I am looking for an organization that offers same sort of mortgage within Alberta.

Anyone having some info please advise.

Thanks

 

[Someone1900]

By the way, have you managed to collect some reliable information about these institutions? I would love to hear from someone with experience... thanks

 

[SKguy]

Islamic mortgage? You're making your life so complicated :-X

 

[neutral]

Islamic mortgage? You're making your life so complicated :-X

Yeah, at the end there are interest anyway but called by other name.

 

[torontosm]

Hi,

Has anyone got info about reliable Islamic finance/mortgage in Alberta/Calgary.I am looking for a renowned,reliable organization.I have read about ACU s islamic mortgage option but that offers mortgage only for houses bought within Manitoba so I am looking for an organization that offers same sort of mortgage within Alberta.

Anyone having some info please advise.

Thanks

The largest provider of Islamic mortgages in Canada was a company called UM Financial founded by Omar Kalair. It turned out to be a massive fraud, and there is still an arrest warrant out for Omar (who is believed to be hiding in Dubai after running away with several million dollars). Following this, the regulators have been fairly reluctant to issue licenses to any further Islamic financial institutions. There are still some private co-operative consortia that provide such mortgages and your best bet would be to check at your local mosque or Islamic centre.

 

[Tommygirl20247]

Did you find anything that was good? Im also in Alberta and want an Islamic mortgage. Im currently considering go through with Ijara Canada loans but I havent heard any testimonies on it

 

[CanV]

There is no such thing, a mortgage is a mortgage and you will pay interest on it regardless of what they call it.