Halal Mortgage: Canadian Prime Minister Justin Trudeau made such an announcement in the budget, which is being discussed everywhere. Actually, the Trudeau government has decided to launch ‘Halal Mortgage Scheme’. After this the debate started in Canada. People are asking questions to the government on social media. Some people called it an attempt to benefit a particular group. One user wrote on social media platform X, ‘Halal mortgage scheme is an attempt to woo the angry people in the country.’
Many people called it a ‘woke idea’, which aims to benefit a section of the society. Some people say that the popularity of Prime Minister Justin Trudeau was declining and such a decision has been taken to save him.
What is halal mortgage?
Halal mortgage scheme follows the law of Islam in which taking interest is considered haram. Usury is also seen as a sin in Judaism and Christianity. Those who know Islam believe that borrowing can be done, but charging interest on it is a sin. In such a situation, the government announced Halal Mortgage Scheme only for Muslims. Some people in Canada already implemented the Halal mortgage scheme, but now it is being considered to be implemented in public banks as well.
Foreign citizens will not be able to buy houses till 2027
A ban has also been imposed on foreigners from buying land in Canada for 2 years. According to Reuters report, earlier a ban was imposed on foreigners buying land from January 1, 2023 to January 1, 2025, now it has been extended for 2 more years, i.e. till January 1, 2027. But there will be a ban.
The government says that a lot of investors come to Canada and a large number of foreign students also live in Canada, due to which a ban was imposed on foreign students from working in Canada. The Government of Canada believes that due to increase in population there has been a shortage of houses. At the same time, due to increase in the prices of construction materials, houses are not being constructed in sufficient quantity, keeping this in view the government has decided to ban.