Al Ehsaan Home Financing

Al-Ehsaan (Regina, SK) grew from informal community investment pooling in 2007 into a registered non-profit in 2012 and, in 2023, converted into Al-Ehsaan Residential Cooperatives, with roughly $4 million invested. Its standout disclosure is a complete annual return series from 2013 through 2024 - ranging from 3.47% to 5.28%, with 4.60% in 2024 - the only Canadian Islamic housing co-op publishing performance at that granularity. Members can withdraw up to $10,000 within 48 hours, unusual liquidity for the category.

The housing path is unusually legible. Membership costs $150; joining the Approved Waiting List requires $20,000 invested plus position under a published point system that awards points per quarter of membership, per $10,000 invested, for committing to a down payment of 30% or more, and for faster payoff commitments, with up to 5 discretionary board points. Purchases require a 25% minimum down payment, and occupancy runs at market-appraised rent plus a flat $75/month administration fee, with no penalty for early payoff. This is more explicit queue math than any competitor publishes.

Two documentation problems temper the picture. First, the Sharia basis: downloadable fatwas exist in Arabic (as a scanned image) and Urdu, attributed only to unnamed 'recognized scholars' - no named scholar, no board, no English translation, leaving most members unable to read the very documents authorizing the structure. Second, a direct contradiction on buyout economics: the investments page describes a 10/90 co-op/member gain split, while the presentation PDF says the member keeps any gain or loss entirely - materially different outcomes that need resolving in writing before joining. The operation is real and current (returns through Q4 2024) but the website lags badly: copyright frozen at 2017, events ending 2016, and a FAQ still describing the organization as a non-profit after the 2023 cooperative conversion.