Notes
Woke banking?
Trudeau to introduce Halal mortgage for Muslims
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Halal mortgages are compliant with Islamic law, which prohibits the charging of interest, considering it a form of usury. While other Abrahamic faiths, such as Judaism and Christianity, also view usury as a sin, Islamic financial institutions uniquely offer mortgage and lending products that avoid conventional interest payments.
Although some Canadian financial institutions already offer Islamic law-compliant mortgages, none of the country's five major banks currently provide them. Experts believe, these alternative mortgages might not be entirely interest-free but could involve regular fees as substitutes for interest charges.
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