Tjara Halal Financing Review

Tjara's commercial property financing is a flexible credit option that lets Canadian businesses borrow against pledged commercial assets, accessing funds when needed rather than in a single fixed advance. It runs through Tjara's non-profit referral model - regulated Canadian funders provide capital under agreements binding them to halal terms - with oversight from a named three-scholar Shariah board chaired by Prof. Dr. Mohamad Akram Laldin and AAOIFI-compliant late fees donated to charity. The commercial product's specific contract structure isn't published; Tjara's residential flagship uses diminishing musharakah, so ask whether the same co-ownership model applies. No amounts or rates are published.

Tjara's business financing covers machinery and equipment, asset acquisition, expansion, and asset-tied working capital for Canadian businesses across all 10 provinces. Tjara operates as a non-profit referral agent connecting clients to regulated Canadian funding partners contractually bound to halal terms, under a named three-scholar Shariah board chaired by Prof. Dr. Mohamad Akram Laldin with Dr. Aznan Hasan and Mufti Muaz Ashraf Usmani, plus a dedicated Head of Shariah Compliance (Dr. Mufti Waqar Yousufi). Late-payment amounts go to charity per AAOIFI rules. No rates or amounts are published, and the specific contract type (murabaha, musharakah, or ijara) should be confirmed in writing during application.

Tjara's Declining Balance Co-ownership Program is diminishing musharakah delivered through external funding partners: you and the funder co-own the property, you buy out its share through acquisition payments while paying usage payments (rent) on the remainder, and legal title sits in your name from day one. Founded in 2024 and headquartered in Mississauga, Tjara quotes market-aligned pricing ('same pricing as banks', with no Tjara margin added), finances up to $1,000,000 with case-by-case exemptions, and takes 5% minimum down under $500,000 for first-time buyers - 10% above $500,000 or for repeat and investment buyers, with CMHC insurance required below 20% down. Approval runs 3-5 business days and application-to-close typically 3-4 weeks, across all 10 provinces.

Tjara's non-profit financing gives Canadian masjids, charities, and community organizations a riba-free growth-capital option, offered by a firm whose own FAQ describes it as a non-profit itself. The model is referral-based: regulated Canadian funding partners provide the capital under agreements contractually binding them to halal terms, with oversight from a named three-scholar Shariah board (Prof. Dr. Mohamad Akram Laldin, Dr. Aznan Hasan, Mufti Muaz Ashraf Usmani), a published 2023 musharakah fatwa, and AAOIFI-compliant late fees donated to charity. Amounts, rates, and contract mechanics for this product line aren't published - terms emerge through a contact-form application.

Tjara's commercial real estate financing funds business properties - office buildings, retail spaces, industrial warehouses, and owner-occupied premises - across all 10 Canadian provinces, including portfolio and income properties with structures described as built for multi-million-dollar projects. Tjara operates as a non-profit referral agent: regulated Canadian funding partners provide the capital under agreements contractually binding them to halal terms, overseen by a named three-scholar Shariah board (Prof. Dr. Mohamad Akram Laldin, Dr. Aznan Hasan, Mufti Muaz Ashraf Usmani) with a published 2023 musharakah fatwa. No amounts, rates, or commercial contract mechanics are published - applications go through a contact form.