Who offers Islamic home financing in Canada?

Several providers operating in Canada describe their products as Sharia-compliant, and each uses a different structure. Read each provider’s own explanation before comparing, so you know what you would be signing.

1. Manzil offers Musharaka (partnership): the property belongs to the partnership between you and Manzil, and it assigns you the right to hold title. Ask what that means in practice in your province.
2. Manzil says its profit rate is a Government of Canada bond base rate for the matching term plus the fund’s margin. Ask how the rate is calculated in your own contract and how it changes at renewal.
3. Manzil lists licences in Ontario, British Columbia, Saskatchewan, Nova Scotia and Alberta. If your province is not on the list, ask before you start.
4. EQRAZ offers a monthly murabaha using a commodity other than the home, and says you own 100% of the property and that it is available in all provinces. Ask for a detailed explanation of this structure before comparing it with others.
5. EQRAZ contracts through its own subsidiaries, so find out exactly which entity you sign with; the name written in the contract is what defines your rights.
6. Ansar Housing (a housing co-operative) says it helps members buy a home without riba; ask about its structure and provinces. Scholars hold different views on all of these structures, so consult a religious adviser you trust.

Caution: These providers are described in their own words, not as a recommendation, a religious certification or a financing guarantee.

Bottom line: Several providers operating in Canada describe their products as Sharia-compliant, and each uses a different structure. Read each provider’s own explanation before comparing, so you know what you would be signing.

Last reviewed: 29 September 2026