Which bank does my money actually go to?

People often assume that "held by a trustee" means the money sits inside the trust company. It does not, and the real arrangement is worth understanding because it is the one that protects you.

The Trust maintains bank accounts at Habib Canadian Bank, a Schedule II Canadian bank, at its Scarborough branch. Those accounts are in the Trust's own name, and they are maintained under the authority of TSX Trust Company, the Trust's sole trustee. Your subscription is payable to Tawakkul Real Estate Investment Trust and goes there.

What matters is not which building the cash sits in. It is whose name is on the account. The account belongs to the Trust. It does not belong to Ahmed Asset Management Inc., it is not controlled by this platform, and the manager cannot become the trustee without a vote of unitholders. Holding client money is a regulated activity, and it is one the manager is deliberately not registered for.

You will be given the full account details — the name on the account, the institution number, the transit and the account number — at the point you are ready to send funds, along with a reference code that matches your payment to your file automatically. There is no mystery about it and no reason to withhold it; you cannot wire money to an account you have not been told about.

One warning, and please take it seriously. Payment details are given to you inside your application and confirmed on the telephone. If you ever receive an email that changes them, changes the bank, or asks you to send funds urgently to a different account, stop and telephone us on the number published on this site. Payment redirection fraud is the single most common way people lose money in transactions like this one, and it works precisely because the message looks like it came from us. How to check that a message really is from Tawakkul.