{"id":29976,"date":"2025-06-10T17:38:44","date_gmt":"2025-06-10T23:38:44","guid":{"rendered":"https:\/\/alrashidmosque.ca\/?p=29976"},"modified":"2025-06-10T18:07:42","modified_gmt":"2025-06-11T00:07:42","slug":"alberta-launches-first-halal-mortgage-through-partnership-between-al-rashid-mosque-servus-credit-union-and-government-of-alberta","status":"publish","type":"post","link":"https:\/\/alrashidmosque.ca\/alberta-launches-first-halal-mortgage-through-partnership-between-al-rashid-mosque-servus-credit-union-and-government-of-alberta\/","title":{"rendered":"June 9 2025: Alberta Launches First Halal Mortgage Through Partnership Between Al Rashid Mosque, Servus Credit Union, and Government of Alberta"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1300px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\" data-scroll-devices=\"small-visibility,medium-visibility,large-visibility\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\" style=\"--awb-content-alignment:justify;\"><p>Edmonton, AB \u2014 By the blessings of Allah (SWT), the Canadian Islamic Finance Board (CIFB)\u2014an initiative led by Al Rashid Mosque\u2014is proud to announce the launch of Alberta&#8217;s first Halal Mortgage, in collaboration with Servus Credit Union and the Government of Alberta.<\/p>\n<p>Beginning in Fall 2025, Servus Credit Union will offer the new product through its wholly owned subsidiary, Servus Halal. The financing model is based on a 25-year, cost-plus-profit (Murabaha) structure, where the consumer pays the cost of the home plus an agreed-upon profit amount. Monthly payments remain consistent over the full term, and no interest is charged, making the product compliant with Islamic finance principles.<\/p>\n<p>The Halal mortgage product has been certified by the Canadian Islamic Finance Board (CIFB) and meets the Islamic finance principles. This marks a historic milestone for Islamic finance in Canada, particularly for Muslims in Alberta seeking homeownership options aligned with their faith.<\/p>\n<p>\u201c<em>This achievement is the result of tireless collaboration between community institutions, financial leaders, and government partners<\/em>,\u201d said Dr. Muammar Sawan, Chairman of CIFB. \u201c<em>It is a proud moment not only for our community, but for the future of inclusive financial services in Canada.<\/em>\u201d<\/p>\n<p>CIFB is a non-profit organisation led by Canadian Islamic scholars, professionals, and experts in Islamic finance. It provides advisory services, Shariah audits, certification, and training to support faith-based financial offerings in Canada.<\/p>\n<h3>CIFB Advisors and Contributors<\/h3>\n<p>We offer special recognition to the scholars and professionals whose rigorous work ensured the Sharia compliance of this product:<\/p>\n<ul>\n<li><strong>Sheikh Hacene Chebbani<\/strong> \u2013 Head, CIFB Sharia Committee (Calgary)<\/li>\n<li><strong>Sheikh Dr. Mahmoud Omar<\/strong> \u2013 Head, CIFB Audit Committee (Edmonton)<\/li>\n<li><strong>Sheikh Mufti Faisal Mahmudi<\/strong> \u2013 Sharia Advisor (Edmonton)<\/li>\n<li><strong>Sheikh Mufti Mirza Zain Baig<\/strong> \u2013 Sharia Advisor (Montreal)<\/li>\n<li><strong>Sheikh Ali Jomha<\/strong> \u2013 Sharia Advisor (Edmonton)<\/li>\n<li><strong>Sheikh Abdurrahman Murad<\/strong> \u2013 Sharia Advisor (Fort McMurray)<\/li>\n<li><strong>Ahmed Jama<\/strong> \u2013 Sharia Auditor (Edmonton)<\/li>\n<li><strong>Khalid Amin<\/strong> \u2013 Former CIFB Board Member<\/li>\n<\/ul>\n<p>To learn more about the Halal Mortgage, visit: <a href=\"https:\/\/servushalal.ca\">https:\/\/servushalal.ca<\/a><\/p>\n<p>For Sharia-related inquiries, please contact Al Rashid Mosque at <a href=\"mailto:info@alrashidmosque.ca\">info@alrashidmosque.ca<\/a><\/p>\n<p>Jazakom Allah Khairan<\/p>\n<p><strong>Dr. Muammar Sawan<\/strong><br \/>\nChairman, Canadian Islamic Finance Board<\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"quote","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[248],"tags":[],"table_tags":[],"class_list":["post-29976","post","type-post","status-publish","format-quote","hentry","category-blogs","post_format-post-format-quote"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - 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