The Canadian government has made progress on halal mortgages at the government level for the first time, as the government decided to review halal mortgages for homes for the first time.
According to the federal budget tabled in parliament, the government has begun consultations with financial institutions and various communities on alternative methods to traditional mortgages.
It should be noted that according to Islamic beliefs, the transaction of interest and profit from it is considered illegitimate.
It should be noted that some financial institutions in Canada provide the Muslim community with a halal mortgage option, but this option is not available in the big five Canadian banks.
Halal mortgage progress made at government level for the first time Deputy Prime Minister and Federal Finance Minister Chrystia Freeland presented the New Year’s Budget in Parliament.
