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Vehicle Financing · IjaraCDC

IjaraCDC Auto Financing

AIjaraevery province
KN
Kyle Natter

Co-Founder & CEO, HalalWallet

Reviewed by: HalalWallet Editorial Team•Last reviewed: 2026-10-06•Disclosure: Featured partners may compensate HalalWallet for clicks. Editorial policy and full disclosures.

Facts are re-verified against IjaraCDC's published materials; this page updates when the provider's terms, rates, or coverage change.

Auto Conversion Program (Canada): converts an existing interest-bearing car loan into a riba-free Ijara (rent-on-property) structure - the car is placed in a trust and the loan restructured with the same payment and term, no new loan and no credit check. One-time $349 fee plus $10/month admin fee, re-verified on ijaracdc.com's Canadian programs page in August 2026. Not purchase financing: IjaraCDC's own site still lists 'Islamic Auto Finance' as coming soon, so if you're shopping for a car today you'll need to arrange the purchase first and convert after.

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What is the IjaraCDC Auto Financing?

Auto Conversion Program (Canada): converts an existing interest-bearing car loan into a riba-free Ijara (rent-on-property) structure - the car is placed in a trust and the loan restructured with the same payment and term, no new loan and no credit check. com's Canadian programs page in August 2026.

  • Contract structure: Ijara.
  • Available in every province.
  • Shariah oversight disclosed: Formal Board (fatwa published).
  • HalalWallet Index grade for IjaraCDC in Vehicle Financing: A.
  • Verified against IjaraCDC's published materials on 2026-10-06.

Source: HalalWallet (halalwallet.ca)

Key facts

Structure
Ijara
Program type
Auto Conversion
Maximum amount
N/A - wraps your existing loan
Minimum down payment
N/A - converts your existing loan
Terms
Keeps your existing loan's rate and term
Minimum credit score
No minimum (no credit check required)
Monthly fee
$10 (conversion administration fee)
Vehicle types
Conversion of existing auto loans (any vehicle with a loan)
Availability
every province
Shariah oversight
Formal Board
Provider founded
2005
Last verified
2026-10-06

Facts are taken from IjaraCDC's published product materials and were last verified on 2026-10-06. Fields the provider does not publish are omitted rather than estimated.

Our take

A conversion, not a car loan: your existing Canadian auto loan is restructured into rent-on-property held in trust, payment unchanged, for $349 plus $10 a month - pricing still live on IjaraCDC's programs page as of August 2026. For Muslims uneasy about an interest-bearing loan they already carry, it's the only Canadian product of its kind we've catalogued. If you're shopping for a car today, you'll still need to arrange the purchase first, since IjaraCDC's Islamic auto purchase financing remains listed as coming soon.

Strengths

  • Converts an existing car loan to a riba-free structure with no new loan or credit check
  • Same payment and term - only the structure changes
  • Transparent flat pricing: one-time $349 fee plus $10/month
  • Conversion fatwa issued by Mufti Mohammed-Umer Esmail (2009) within a documented contract lineage

Watch-outs

  • Not purchase financing - you must already have the car loan
  • Islamic auto purchase financing is listed as coming soon, not available today
  • The admin fee slightly raises total cost versus doing nothing

Is the IjaraCDC Auto Financing halal?

This is a conversion program, not purchase financing - IjaraCDC's own site lists Islamic auto purchase finance as coming soon - and its halal case rests on changing what your existing payment buys. The car is placed in a single-asset trust and the Canadian loan is restructured so the identical payment, over the identical term, becomes rent on the vehicle rather than interest on money: IjaraCDC's published test for riba is not the amount of the return but whether it is charged against property (trade) or against money (riba). No new loan is created and no credit check is run. The cost is flat and disclosed: a one-time $349 fee plus a $10/month administration fee. Mufti Mohammed-Umer Esmail issued the fatwa for the Conversion Product in 2009, within a contract lineage running from the 1995 Dallah Al Baraka fatwa (Taqi Usmani and Nizam Yaquby among the signatories) to Mufti Muneer Akhoon's 2012 update. The honest caveats: the conversion method is proprietary - primary documents are shared only under NDA - your original lender remains the investor, and the administration fee means the converted structure costs slightly more than doing nothing; what you are buying is the removal of riba from the payment, not a better deal on the car.

Shariah oversight disclosed by IjaraCDC

IjaraCDC maintains a standing Sharia Advisory Board chaired since 2012 by Mufti Muneer Ahmed Akhoon - Karachi-trained (he studied under Taqi Usmani, among others) and Director of Religious Affairs at the Westchester Muslim Center in Mt. Vernon, NY - who issued the current fatwa on the finance documents. Shaykh Mufti Mohammed-Umer Esmail, a Canadian-born scholar with 13 years of formal Shariah study who also trained under Justice Taqi Usmani, has served as Sharia Advisor since 2009 and issued the fatwa for the Conversion Product; Imam Yahya Abdullah (joined 2013) and Imam Mohamed Radwan Mardini (joined 2015) complete the board. The underlying Lease to Purchase contract carries a documented fatwa lineage: the original 1995 Dallah Al Baraka fatwa (Sh. Muhammad Taqi Usmani, Sh. Nizam Yaquby, Dr. Abdus Sattar Abu Ghuddah, Sh. Abdullah Al Mannae), updated in 1997 for the United Bank of Kuwait's Al-Manzil program, in 2003 for University Bank (Yusuf DeLorenzo, Nizam Yaquby), reviewed in 2006 by Dr. Ahmed Shleibak, extended in 2009 with Esmail's Conversion fatwa, and reissued in 2012 by Akhoon. The current fatwa is downloadable in English, French, and Spanish, and IjaraCDC states the approval covers use in both the USA and Canada. Two honest caveats: Taqi Usmani approved the original 1995 contract but does not serve on IjaraCDC's board (the site says so explicitly), and the primary contract documents - trust agreement, lease, and Promise to Purchase - are released for review only under a signed NDA.

Sharia Advisory Board chaired by Mufti Muneer Akhoon. Shaykh Mufti Mohammed-Umer Esmail serves as advisor.

HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.

What you get

  • Converts an existing interest-bearing car loan into a riba-free Ijara - the car is placed in a single-asset trust
  • Same payment and same term - only the structure changes
  • No new loan and no credit check
  • One-time $349 fee plus $10/month administration fee
  • Purchase financing ('Islamic Auto Finance') listed as coming soon - this is a conversion program only

Cost and terms

Flat published pricing: one-time $349 fee plus $10/month administration fee; your existing loan's payment and term stay the same. No new loan and no credit check. Purchase financing ('Islamic Auto Finance') remains listed as coming soon. (verified 2026-08-05)

How it compares

Other vehicle financing providers we list in Canada, ordered by HalalWallet Index grade.

ProductStructureShariah oversightAvailabilityGrade
IjaraCDC Auto Financing (this page)IjaraFormal Boardevery provinceA
Muevmnt Financial Auto FinancingMurabahaNo Public Review10 provinces—
Halal Car Financing Auto FinancingMurabahaNo Public ReviewAlberta—

See the full halal auto financing comparison →

Other IjaraCDC products

Read the full IjaraCDC review →

Where it's available

IjaraCDC lists the Auto Financing as available in every province.

Availability may vary by product and can change; verify with IjaraCDC before applying.

Frequently asked questions

Is the IjaraCDC Auto Financing halal?

This is a conversion program, not purchase financing - IjaraCDC's own site lists Islamic auto purchase finance as coming soon - and its halal case rests on changing what your existing payment buys. Contract structure: Ijara. Shariah oversight disclosed by IjaraCDC: Formal Board. IjaraCDC publishes a fatwa or Shariah certificate for this product. HalalWallet reports what the provider documents; we do not certify products.

How does the IjaraCDC Auto Financing work?

Auto Conversion Program (Canada): converts an existing interest-bearing car loan into a riba-free Ijara (rent-on-property) structure - the car is placed in a trust and the loan restructured with the same payment and term, no new loan and no credit check. com's Canadian programs page in August 2026.

What does the IjaraCDC Auto Financing cost?

Flat published pricing: one-time $349 fee plus $10/month administration fee; your existing loan's payment and term stay the same. No new loan and no credit check. Purchase financing ('Islamic Auto Finance') remains listed as coming soon. (verified 2026-08-05)

What are the minimums for the IjaraCDC Auto Financing?

As published by IjaraCDC: minimum down payment N/A - converts your existing loan; minimum credit score No minimum (no credit check required). Confirm current requirements with IjaraCDC before applying.

Where is the IjaraCDC Auto Financing available?

IjaraCDC lists this product as available in every province. Availability can change and may differ by province; verify directly with IjaraCDC.

What are the alternatives to the IjaraCDC Auto Financing?

In the same category we also list Muevmnt Financial Auto Financing, Halal Car Financing Auto Financing. Compare every option side by side on our Halal Auto Financing hub.

When was this IjaraCDC product information last verified?

HalalWallet last verified the IjaraCDC Auto Financing details against IjaraCDC's published materials on 2026-10-06. Rates, fees, and availability can change after that date.

How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.

Product structures and Shariah oversight vary by provider, so finish with three built-in steps:

  • Confirm current terms and halal compliance directly with the provider - their quote is final.
  • Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
  • Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.

Sources and review process

This page is reviewed against HalalWallet editorial standards and source documentation.

Reviewed by: HalalWallet Editorial Team

Last reviewed: 2026-10-06

How to cite this page

Preferred format (HTML):

According to HalalWallet (“IjaraCDC Auto Financing Review”, https://www.halalwallet.ca/providers/ijaracdc/auto-financing, retrieved 2026-10-08).

For time-sensitive claims (rates, fees, province availability), please verify directly with the provider's official documentation and note the retrieval date.

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