An-Nur Cooperative Corporation Ltd. (An-Nur/NurCoop)
Frequently Asked Questions (FAQ)
Question: What is the main objective of NurCoop?
Answer: NurCoop’s main objective is to serve the Muslim community living in Canada by providing them with interest free Investment & financing services - on a timely & courteous manner - mainly for the pleasure of Allah SWT.
Question: Who is managing the business of An-Nur?
Answer: An-Nur is managed by a Board of Directors, consisting of Muslim professionals, with more than fifteen years’ experience of serving the community in interest free financing, investment & charities areas.
Question: What is the main business of An-Nur?
Answer: An-Nur’s main business is to mobilize our community’s savings in order to utilize this saving for the benefit of community by investing in residential, commercial real estate projects. Real estate investment provides:
- Security of the investment;
- Chances for growth;
- Diversification; and
- Steady & above market return.
Question: What is the procedure of buying a house through NurCoop?
Answer: The procedure is simple. Our home financing plan called as HOME (Home Ownership Made Easy) is described briefly in the attached sheet.
I want to take my house off of mortgage. How can NurCoop help?Please review our HOME plan for details.
Question: What does An-Nur invest in?
Answer: An-Nur invests in residential homes, residential land & other residential projects.
Question: What are An-Nur’s criteria for investment?
Answer: An-Nur’s criterion for investment are:
- Potential of an above market Return;
- Safety and security of investment;
- Potential for Growth; and
- Flexibility of investment redemption, if necessary.
Question: Does An-Nur arrange for RRSPs?
Answer: An-Nur arranges for RRSPs through one of its related corporation. Please call us to discuss further details.
Question: what way An-Nur is unique in providing Interest-free services?
Answer: A-n Nur is unique in several ways:
1. An-Nur is main business is investment in residential homes & residential Real Estate properties;
2. An-Nur tries to earn above market rate of return – very good return because it invests in a diversified residential real estate portfolio.
3. For the past few years, it distributed dividend on an average of 6.2% per year;
4. An-Nur's HOME Plan has the flexibility of renting a portion of their home, if necessary.
Question: How can I invest with NurCoop?
Answer: There are two ways you can invest with An -Nur - One is to become a member and the other is to become a Preferred Shareholder (an investor).
Question: How do I invest?
Answer: Fill out an application form, which can be found on our website:
- Pay a onetime membership fee of $100;
- Purchase a minimum of ten shares of $100 each (voting shares) annually; for a total contribution of $1,000;
- Starting with an initial investment of a total of $1,100.00.
For Preferred Shares (i.e., becoming an investor):
- Fill out an application form, which can be found on our website: http://www.nurcoop.com/documents/NURMembform.pdf
- Pay a one time registration fee of $25 ($40 for a couple);
- Purchase a minimum of Five Preferred shares of $100 each (non-voting shares) for a total sum of $525.00.
- Invest as much as you like thereafter.