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ARTICLE · 29 APRIL 2024

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Budget 2024: Halal Mortgages

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In the 2024 federal budget released on April 16, the federal government stated its intention to explore new measures to expand access to alternative financing products...

CanadaFinance and Banking
Nooreen Bhanji
Nooreen Bhanji
Shaoor Ahmad
Shaoor Ahmad
Dany Assaf
Dany Assaf
Peter Aziz
Peter Aziz
Nushrah Amod
Nushrah Amod
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In the 2024 federal budget released on April 16, the federal government stated its intention to explore new measures to expand access to alternative financing products, like halal mortgages to promote homeownership for Canadians. Consultations with financial services providers and diverse communities have begun so that the government can better understand what federal policies may be put in place to better support the unique needs of all Canadians seeking to become homeowners.

What you need to know

  • Permitting new financing arrangements, like non-interest based home mortgage products that are also compatible with the Muslim faith (halal mortgages), would allow many Muslim Canadians to also purchase and finance a home.

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