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Home Financing · IjaraCDC

IjaraCDC Riba-to-Ijara Conversion Program

AIjaraevery province
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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.

Converts an existing Canadian mortgage into a Sharia-compliant Ijara structure with no refinance and no documents required, completing in 10-14 business days - usually before your next payment date. Title moves into an independent trust, you lease the home from the trust as its grantor and beneficiary, and the payment amount stays the same: what changes is that the lender's return arrives as rent on real property rather than interest on money. Flat pricing: a one-time $349 fee plus $10/month administration, re-verified on ijaracdc.com in August 2026. The conversion fatwa was issued by Mufti Mohammed-Umer Esmail in 2009 within IjaraCDC's documented contract lineage.

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What is the IjaraCDC Riba-to-Ijara Conversion Program?

Converts an existing Canadian mortgage into a Sharia-compliant Ijara structure with no refinance and no documents required, completing in 10-14 business days - usually before your next payment date. Title moves into an independent trust, you lease the home from the trust as its grantor and beneficiary, and the payment amount stays the same: what changes is that the lender's return arrives as rent on real property rather than interest on money.

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

Source: HalalWallet (halalwallet.ca)

Key facts

Structure
Ijara
Program type
Conversion
Terms
Keeps your existing term
Monthly fee
$10 (conversion administration fee)
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

The fastest way out of an interest-based Canadian mortgage: two weeks, zero paperwork, payment unchanged, for $349 plus $10 a month - pricing still live on IjaraCDC's Canadian programs page as of August 2026. The structure becomes rent-on-property held in trust while your existing lender stays in the deal as investor - transparency-minded borrowers should note the method itself is proprietary and shared only under NDA. For urgency about leaving riba, nothing in Canada moves faster; for a clean break from the original bank, compare a full replacement instead.

Strengths

  • Converts an existing Canadian mortgage to halal in 10-14 business days
  • No refinance and no documents required - no requalification risk
  • Flat pricing: one-time $349 fee plus $10/month admin
  • Conversion fatwa issued by Mufti Mohammed-Umer Esmail (2009) within a documented contract lineage

Watch-outs

  • The conversion method is proprietary - full documents only under NDA
  • Your bank remains the investor; those wanting a clean break should compare a full replacement
  • The monthly admin fee slightly raises total cost versus doing nothing

Is the IjaraCDC Riba-to-Ijara Conversion Program halal?

This program removes riba from a Canadian mortgage you already have - no refinance and no documents required, completing in 10–14 business days at a one-time $349 fee plus $10/month administration. Mechanically it is a restructuring, not a refinancing: title moves into an independent trust, you lease the home from the trust as its grantor and beneficiary, and the amount you pay stays the same - but the lender's return now arrives as rent on real property (trade) rather than interest on money, which is precisely where IjaraCDC's published riba line falls. Mufti Mohammed-Umer Esmail - a Canadian-born scholar - 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, which IjaraCDC states covers use in both the USA and Canada. The honest caveats: the conversion method is proprietary and the primary documents are shared only under a signed NDA, and owners who want the interest-based lender entirely out of the picture should compare a full replacement instead - after conversion, the original bank is still the investor.

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

  • No refinance, no documents, no credit check
  • Completes in 10-14 business days - usually before your next payment
  • One-time $349 fee plus $10/month administration
  • Title moves to an independent trust; your payment amount stays the same
  • Conversion fatwa issued by Mufti Mohammed-Umer Esmail (2009)

Cost and terms

Flat published pricing: one-time $349 conversion fee plus $10/month administration fee. No refinance, no documents, no credit check; your payment amount and term stay the same, so the fee stack is the only added cost. Completion typically 10-14 business days. (verified 2026-08-05)

Terms published: Keeps your existing term.

How it compares

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

ProductStructureShariah oversightAvailabilityGrade
IjaraCDC Riba-to-Ijara Conversion Program (this page)IjaraFormal Boardevery provinceA
Manzil Musharaka MortgageDiminishing MusharakaFormal Board4 provincesA
Tjara Halal Financing Home FinancingMusharakaFormal Board10 provincesB+
Eqraz Home FinancingMurabahaThird-Party Certified10 provincesB
Servus Credit Union Home FinancingMurabahaThird-Party CertifiedAlbertaB

See the full halal home financing comparison →

Other IjaraCDC products

Read the full IjaraCDC review →

Where it's available

IjaraCDC lists the Riba-to-Ijara Conversion Program as available in every province.

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

Frequently asked questions

Is the IjaraCDC Riba-to-Ijara Conversion Program halal?

This program removes riba from a Canadian mortgage you already have - no refinance and no documents required, completing in 10–14 business days at a one-time $349 fee plus $10/month administration. 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 Riba-to-Ijara Conversion Program work?

Converts an existing Canadian mortgage into a Sharia-compliant Ijara structure with no refinance and no documents required, completing in 10-14 business days - usually before your next payment date. Title moves into an independent trust, you lease the home from the trust as its grantor and beneficiary, and the payment amount stays the same: what changes is that the lender's return arrives as rent on real property rather than interest on money. com in August 2026.

What does the IjaraCDC Riba-to-Ijara Conversion Program cost?

Flat published pricing: one-time $349 conversion fee plus $10/month administration fee. No refinance, no documents, no credit check; your payment amount and term stay the same, so the fee stack is the only added cost. Completion typically 10-14 business days. (verified 2026-08-05)

Where is the IjaraCDC Riba-to-Ijara Conversion Program 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 Riba-to-Ijara Conversion Program?

In the same category we also list Manzil Musharaka Mortgage (HalalWallet Index A), Tjara Halal Financing Home Financing (HalalWallet Index B+), Eqraz Home Financing (HalalWallet Index B). Compare every option side by side on our Halal Home Financing hub.

When was this IjaraCDC product information last verified?

HalalWallet last verified the IjaraCDC Riba-to-Ijara Conversion Program 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 Riba-to-Ijara Conversion Program Review”, https://www.halalwallet.ca/providers/ijaracdc/riba-to-ijara-conversion, 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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