Liberals Prepare To Open Door To Sharia-Compliant Mortgage Financing

"Conventional mortgages offered by Canadian banks, which charge clients interest, are not considered Shariah-compliant, or halal."

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.

"Mortgages compliant with Islamic law are already offered by some financial institutions in Canada, though none of Canada’s five ‘Big Banks’ currently offer them."

Reasonable speculation says that this is about to change. Considering the high levels of Middle Eastern immigration to Canada, this move has the potential to re-orient our country's real estate market.

As motivation for an uplift in Muslim migration to Canada, a decision to institutionalize Halal financing is likely to push-up housing prices beyond unaffordable levels created by government.

“The Liberal government delivered a federal budget geared towards young Canadians, proposing a spending plan that promises to do everything from make it easier to buy a first home to crack down on costly concert ticket fees.”

As negated by an introduction of Halal mortgage financing. But don't tell that to that the CBC, they will lend it no credence whatsoever.

Will Halal mortgage financing impact Canada's real estate market to the extent that promises of affordability ring hollow? Smart money shouldn't count this out.

“We are acting today to ensure fairness for every generation, Finance Minister Prime Minister Chrystia Freeland said as she tabled the Liberals’ 2024 budget.”

Certainly sounds fair for Islamic Canadians, who continue to remain on the receiving end of special treatment status by way of our federal government.

“We are moving with purpose to help build more homes, faster. We are making life cost less.”

After the fact, yes. In response to a housing shortage the Liberals created in the first place. Funny thing about Freeland and the Liberals. First, they create the problem. Then, after the negative fall-out manifests, they behave as if they had nothing to do with creating the problem in the first place.

“They’re an effective way of helping Muslims purchase a home while adhering to the guidelines of their faith – but the growth of halal mortgages has been somewhat mild in Canada until now.”

“The offerings present a funding arrangement that remains compliant with Sharia  (Islamic Law), which prohibits the payment of interest, including on mortgages.”

Sharia Law in Canada? Citizens and voters should hold no illusions about its integration into society. Under the Liberals, its entrenchment is all-but guaranteed to become a standard of Canadian society.

As funded by the Feds, mainstream media in Canada do their part through typical positioning on all-things related to Muslim communities:

"Muslim Canadians Left Out Of Purchasing Homes Due To Lack Of Halal Mortgages"

"For members of Canada’s Muslim community, those looking to purchase a home may be faced with an additional barrier – securing a mortgage that aligns with their faith."

"Shariah, the body of Islamic religious law, prohibits the use of riba, otherwise known as interest charged on loans. As a result, conventional mortgages offered by Canadian banks, which charge clients interest, are not considered Shariah-compliant, or halal.", says CTV News.

Team Trudeau to the rescue. It's been this way from day one, and for as long as the current incarnation of the Liberals remain in power, it will stay this way.

A privilege for 5% of our national demographic? An impediment for the remaining 95%. If it is, it's nothing new for Justin Trudeau and his Sharia-compliant Liberal government.