Despite the unequivocal prohibition from dealing in interest, Muslims in Canada who wish to buy homes, start businesses or invest in real estate and save for their retirement are offered few alternatives to traditional, interest-bearing loans and/or mortgages from financial institutions.
An-Nur offers sound investment and financial services on a Shariah compliant - interest-free (free of riba) - and Socially Responsible Investment (SRI) basis with flexible programs for those who wish to:
- Buy a residential home;
- Make home improvements;
- Invest in housing related real estate properties;
- Buy a car; and
- Finance business equipment.
The motivation behind An-Nur's programs is:
وَأَحَلَّ اللَّـهُ الْبَيْعَ وَحَرَّمَ الرِّبَا(٢:٢٧٥)
Whereas Allâh has permitted trading and forbidden Ribâ (usury) (2:275)
يَا أَيُّهَا الَّذِينَ آمَنُوا لَا تَأْكُلُوا الرِّبَا أَضْعَافًا مُّضَاعَفَةً ۖ وَاتَّقُوا اللَّـهَ لَعَلَّكُمْ تُفْلِحُونَ(٣:١٣٠)
O you who believe! Eat not Ribâ (usury), doubled and multiplied, but fear Allâh that you may be successful. (3:130)
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1585 Markham Rd, Suite 209
Scarborough, Ontario
M1B 2W1
Tel: (416) 754-4135
Fax: (416) 754-0838
Email: info@nurcoop.com
Sayeda Khadija Centre
7150 Edwards Blvd.
Mississauga, Ontario
L5S 1Z1
Tel: (647) 977-2667
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