Federal budget references to mortgage products aimed at Canadian Muslims have members of the community celebrating, along with the mortgage providers that look to serve them, despite a lack of detail from the government on what is to come.
In Tuesday’s budget documents, the federal government indicated that it’s “exploring new measures to expand access” to financing methods such as “halal mortgages.”
The budget provided few details about the plan, other than to say the government had been consulting “financial services providers and diverse communities” and that an update would come in the 2024 fall economic statement. Despite no specifics, it was a welcome addition to the budget for the Muslim community.
“It was very happy news for me,” said Abdullah Mohiuddin, who has already taken out an Islamic, or halal, mortgage to purchase a home in the Edmonton area. He said he welcomed…
