About Us
Qurtuba Housing Coop. has been registered in Quebec since 1990
Qurtuba is a non-profit organization that buys housing units and transfers them to members in good standing once the cooperative’s regulatory requirements are met. It also allows investors to derive reasonable benefits from their investments, both moral (Halal) and material.
Who Are We
A not for profit organization
Our Mission
Offer Quebec residents the opportunity to acquire houses at reasonable prices while avoiding paying usurious interest
What We Do
Buy housing units and transfers them to members in good standing
Our History
In the late 1980’s and early 1990’s, the Muslim Community in Quebec felt a need to create financial institutions to provide “Sharia” compliant services.
Muslim Community of Quebec (MCQ) took initiative and organized a task force around late 1980’s, comprising of financial experts and experienced people in finance from the Muslim community to suggest and to create Islamic Compliant investment institutions.
As a result of this initiative , intensive consultations with the community and with the discussion and approval of religious scholars, finally in 1991, the following financial institutions were launched.
- Qurtuba Housing Coop: an interest-free, Sharia Compliant Housing Cooperative.
- Al-Ittihad investments: an interest-free, Sharia Compliant investment company.
- Al-Yusr: an interest-free , Sharia Compliant RRSP investment
QURTUBA'S IMPACT ON QUEBEC ECONOMY
Qurtuba Housing Cooperative is a not for profit organization with positive impact on Quebec economy.
First of all, it has provided means for more than 500 Quebec families to become eventual home owners instead of renters.
Moreover, at a current annual rate of about 60 house purchases and 20 sales, Qurtuba provides jobs to the following categories of workers (irrespective of ethnic origin and religious belief): notaries, real estate agents, building inspectors, property Insurance providers, draftsmen and surveyors (for preparing Certificates of Location) and construction industry workers (Many members order construction of new homes).
Finally, Qurtuba provides jobs to workers and suppliers of the Cooperative’s own office in order to serve its own members.
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BOARD OF DIRECTORS
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