Aya Financial

What Aya Financial does

AYA Financial Inc. is a privately held, Ontario-registered FSRA-licensed mortgage brokerage (Brokerage Licence #11730) founded in 2007 and headquartered in Markham, Ontario, with a satellite office in Mississauga. The company provides Shariah-compliant alternative property financing and investment products to Muslim Canadians and others seeking interest-free (riba-free) financial solutions, structured around Islamic trade concepts rather than interest-bearing instruments. Its core products include a Home Financing Program using Musharakah Mutanaqisah (Declining Balance) with 0% interest and a 20% down payment requirement, Halal Savings Accounts using the Mudarabah concept (0.35% indicative rate), Sukuk Term Deposits distributed through an institutional partnership with Moya Financial Credit Union Limited (1-Year non-redeemable rates up to 3.00% for new money), and Commercial Real Estate Financing for mosques, community centres, and other commercial properties. All products are vetted and endorsed by the Islamic Finance Advisory Board (IFAB), an independent scholar-led body, with the company claiming 90%+ Sharia compliance.

The company's revenue model combines transaction-based brokerage fees on home and commercial property financing, licensing/royalty income from institutional partners (notably Moya Financial for the deposit product line), and professional services revenue from financial advisory and product structuring engagements. It operates a sales-led GTM motion through its website (ayafinancial.com), direct phone and email contact (647-479-6063), walk-in offices, and community-based referrals through partnerships with mosques and Islamic centres. AYA also offers a B2B service line assisting banks and credit unions seeking to enter the Canadian Islamic finance market. The company reports cumulative scale metrics of 450-500+ homes financed, 15+ mosques and community centres financed, and $250M-$550M+ in financing facilities across its portfolio.

Name

Aya Financial

Legal name

AYA Financial Inc.

Website

https://ayafinancial.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

AYA Financial is a Canadian FSRA-licensed mortgage brokerage that provides Shariah-compliant home financing, halal savings accounts, Sukuk term deposits, and commercial real estate financing for Muslim Canadians and institutions seeking interest-free alternatives to conventional banking.

Ownership category

akta.pro rank

Product category

Islamic Banking and Shariah-Compliant Mortgage Services

NAICS

Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Islamic Private Banking & Wealth (FSABAGAD), Islamic Corporate Banking (FSABAGAC), Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Islamic banking services
• Shariah-compliant financing
• Halal mortgage products
• Property financing broker
• Sukuk term deposits

Headquarters

HQ city

Markham

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Financial Advisory and Licensing Services: AYA Financial provides financial advisory, product structuring, and licensing services to clients and institutional partners. The company acts as a mortgage broker licensed by FSRA (Brokerage Licence #11730).
2. Property Financing Facilitation: The company facilitates home and commercial property financing for individuals and businesses seeking Shariah-compliant alternatives to conventional mortgages.
3. Partnership with Institutional Partners (Moya Financial): AYA Financial earns fees through institutional partnership with Moya Financial Credit Union for term deposit products. Regulated financial institution accepts deposits using AYA product structure.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

AYA Financial is a Shariah-compliant mortgage brokerage that provides alternative property financing to individuals and businesses in Canada. Its core offerings include a 0% interest home financing program using the Musharakah Mutanaqisah (Declining Balance) co-ownership model, halal savings accounts and Sukuk term deposits using the Mudarabah profit-sharing concept, and commercial real estate financing for mosques and community centers. All products are vetted by the Islamic Finance Advisory Board (IFAB) and operated under FSRA Brokerage Licence #11730.

Product overview

Aya Financial is an Islamic financial services company operating as a Shariah-compliant alternative to conventional banking. The company offers four core products: (1) the Home Financing Program using the Declining Balance (Musharakah Mutanaqisah) structure for residential property purchases with 0% interest and 20% down payment; (2) Halal Savings Accounts using the Mudarabah concept for savings; (3) Sukuk Term Deposits providing Shariah-compliant investment returns distributed on a pre-agreed ratio basis; and (4) Commercial Real Estate Financing for community centers, mosques, and other commercial properties. All products are vetted by the Islamic Finance Advisory Board (IFAB) and operate under FSRA Brokerage Licence #11730.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Financing Program (Musharakah Mutanaqisah / Declining Balance) Shariah-compliant residential home financing program using the Musharakah Mutanaqisah (Declining Balance) co-ownership structure. Customers provide a 20% down payment and enter joint ownership with the financier; monthly payments include a profit (user fee) portion and an equity portion that gradually purchases the financier's stake. Charges 0% interest with no financing limit and supports both purchases and refinances. Targeted at Muslim Canadians and ethical homebuyers seeking interest-free alternatives to conventional mortgages.
• Halal Savings Accounts Shariah-compliant savings account using the Mudarabah concept, allowing depositors to earn halal monthly returns on savings at an indicative rate of 0.35% with an 11% distribution ratio. Eligible deposits are insured up to $250,000 through DICO via institutional partner Moya Financial. Targeted at Muslim Canadians seeking interest-free savings alternatives.
• Sukuk Term Deposits Shariah-compliant term deposit investment product using the Mudarabah concept. Depositor capital is invested into a Shariah-compliant mortgage portfolio by the financial institution as mudarib (entrepreneur), with returns distributed based on a pre-agreed ratio ranging from 54% to 92% depending on term and redeemability. Available in non-redeemable and redeemable variants across 1-, 3-, and 5-year terms. Offered through Moya Financial Credit Union with DICO deposit insurance up to $250,000.
• Commercial Real Estate Financing Shariah-compliant commercial property financing structured on Islamic trade concepts for mosques, community centers, and other commercial real estate ventures. AYA has financed 15+ mosques and community centers as part of its institutional property portfolio. Targeted at Islamic community organizations and commercial property developers seeking ethical financing structures.
• Institutional Advisory and Licensing Services Turnkey advisory and licensing services for financial institutions and institutional investors entering the Islamic finance market in Canada. Scope includes business case development, product structuring, legal compliance, regulatory navigation, and IT infrastructure implementation. Delivered under FSRA Brokerage Licence #11730. Targeted at banks, credit unions, and institutional investors lacking internal Islamic finance expertise.

Quantifiable outcome

• 450+ homes financed
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Moya Financial Credit Union LimitedcoreChannel Partner/ Reseller/ DistributorMoya Financial is AYA Financial's institutional partner for Shariah-compliant term deposit products (Sukuk). The partnership uses the Mudarabah concept where Moya acts as the mudarib (entrepreneur) investing depositor funds into the AYA Property Financing Model. Moya accepts term deposits and manages the Shariah-compliant mortgage portfolio, with deposits insured up to $250,000 by DICO.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• University Islamic Financial (UIF): US-based Shariah-compliant home financing provider using Murabaha and declining partnership structures. Comparable to AYA as a North American niche Islamic home finance provider.
• Guidance Residential: US-based Shariah-compliant home financing provider offering Diminishing Musharakah home financing. Closest functional peer to AYA in terms of declining-balance co-ownership home finance model serving Muslim homebuyers in North America.
• Amana Mutual Funds Trust (Saturna Capital): US Shariah-compliant investment funds provider. Comparable to AYA in offering halal investment alternatives to Muslim North Americans, though focused on capital markets rather than real estate.
• Manzil Financial: Canadian provider of halal mortgage and financial products targeting Muslim Canadians. Directly comparable to AYA in niche, geography, and product (Islamic home financing in Canada).
• Moya Financial Credit Union: AYA's institutional partner and a Canadian credit union offering Shariah-compliant deposit products through Mudarabah. Directly comparable as a regulated Canadian financial institution serving Muslim Canadian consumers with Islamic finance products.

Broad incumbents

• Gatehouse Bank: UK-based Shariah-compliant challenger bank offering home finance, savings, and investments. Broader incumbent serving the UK Muslim market with a wider product range than AYA.
• Abu Dhabi Islamic Bank (ADIB): Major UAE-based Islamic bank offering home finance using Shariah-compliant structures (Musharakah, Murabaha, Ijara). Comparable in underlying product architecture though operating across MENA.
• Royal Bank of Canada (RBC): Canada's largest bank, which has explored Islamic finance offerings. Comparable as a Canadian deposit-taking and mortgage-originating institution with far greater scale and balance sheet.
• Toronto-Dominion Bank (TD): Major Canadian bank with broad mortgage and retail deposit operations. Comparable as a regulated Ontario deposit-taker and mortgage originator competing in the same GTA geography.
• Al Rajhi Bank: Largest Islamic bank globally, offering Musharakah-based home finance among other Shariah-compliant products. Comparable in product structure though vastly larger and operating in MENA rather than North America.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ayafinancial
• LinkedInlinkedin.com/company/ayafinancial
• Instagraminstagram.com/ayafinancial.ca/?igsh=MTI1aDY0bXg0MnplMw%3D%3D#

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aya Financial