“Conventional mortgages offered by Canadian banks, which charge clients interest, are not considered Shariah-compliant, or halal.”
by Brad Salzberg
April 17, 2024
The Liberal government’s recently-tabled federal budget includes information stating that it “plans to explore new measures to expand access to alternative financing products, like halal mortgages.”
Delivered as a peripheral element of fiscal planning, ramifications of such a plan will likely far outweigh its casual presentation.
“The Canadian government is exploring options to broaden access to financing alternatives, including halal mortgages. This initiative is part of Prime Minister Justin Trudeau’s efforts to support Canadians aspiring to become homeowners, with a particular focus on the Muslim community.”
The Muslim-Canadian community has been a particular focus for PM Trudeau since day one in office. In the context of historical community recognition, never before has such a special attention been allotted to one community as the Liberals have indulged in since taking office.
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