FAQs

How is TABUK Islamic?

Islamic Shariah permits Trade but prohibits Usury. Bank’s income is derived from the use of money by the borrower, which is prohibited. TABUK invests in the property and derives its income from the compensation given by the user for the use of that property. This is perfectly halal.

The member and TABUK are partners in acquiring a property as this is one of the primary conditions that make any financial contract acceptable from the Shariah perspective. We also do not accept any investments from banks or financial institutions.

“…and Allah has permitted trading and forbidden usury…”
Al-Quran, Surah Al-Baqarah (Chapter 2; Verse 275)

Do you have a Fatwa?

Yes, our model has been thoroughly review with recognized scholars and you can find the detail in our Documents section.

Is there a bank involved?

We do not accept investments from any institutions that deal with interest (Riba) directly, indirectly or through a third party. This includes but is not limited to, banks, private/public investment/financing institutions.

How secure is my investment?

TABUK is a safe financial institution to invest with, as TABUK holds the title of the home until it is completely bought out by the member-owner in order to provide security to investors. All of our properties on 100% debt-free and lien free and member-owner share is minimum 25% in each property. Please see our Security of Investment section on our Documents page for more details.

What are your return rates, are they fixed?

Please see our return rate section in the past. These dividends vary from quarter to quarter based on your investment, net profit is paid as dividends to qualifying members for each quarter based on their investment.

Is there a minimum investment amount?

There is no minimum investment amount as such but to be eligible for quarterly dividends a minimum investment requirement is only $500.00.

Can I withdraw my invested money anytime?

Yes, investments up to $10,000 can be withdrawn anytime, larger sums may require more time.

What is the minimum waiting period for a house?

The minimum waiting period for a house after joining the AWL (Active Waiting List) is 6 months.

Can I purchase a house anywhere?

At this time, a house may be purchased anywhere within Alberta.