Qard Hasan
English: benevolent loan
Alternate spelling: Qard Hassan, Qard al Hassan
Definition: A loan contract between two parties for social welfare or for short-term bridging finance. Repayment is for the same amount as the amount borrowed. The borrower can pay more than the amount borrowed so long as it is not stated by contract.
Most Islamic banks provide interest-free loans to customers who are in need. The Islamic view of loans (qard) is that there is a moral duty to give them to borrowers free of charge, as a person seeks a loan only if he is in need of it. Some Islamic banks give interest-free loans only to the holders of investment accounts with them; some extend them to all bank clients; some restrict them to needy students and other economically weaker sections of society; and some provide interest-free loans to small producers, farmers and entrepreneurs who cannot get finance from other sources.
« Back to Glossary IndexNews related to Qard Hasan (284)
CBI increases ceiling of Qard Hasan facilities
Wednesday, 28 Jul 2021 | Volume18.Issue31
News BriefsThe Qard Hasan banking experience in Iran
Thursday, 04 Feb 2021 | Volume18.Issue06
IFN Correspondent ReportsQard Hasan
Thursday, 25 Jun 2020 | Volume17.Issue26
Shariah PronouncementChanges to the AAOIFI Qard Hasan standard: A game-changer?
Friday, 20 Jul 2018 | Volume15.Issue30
IFN Correspondent ReportsTI provides Qard Hasan financing to DSI
Thursday, 10 Aug 2017 | Volume14.Issue33
News BriefsQard Hasan for Hamdard University students
Wednesday, 01 Jun 2016 | Volume13.Issue23
News BriefsWarba reintroduces Qard Hasan
Monday, 27 Apr 2015 | Volume12.Issue17
News BriefsA newly established Islamic bank would like to launch a credit card product based on Qard Hasan (an interest-free loan)
Wednesday, 10 Jul 2013 | Volume10.Issue27
Shariah PronouncementQard and Zakat
Tuesday, 10 Dec 2019 | Volume16.Issue49
Shariah PronouncementThe treatment of Qard in Takaful
Wednesday, 16 Dec 2015 | Volume12.Issue50
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Monday, 11 Oct 2021 | Volume18.Issue41
News BriefsWaqf funds and equities endowment in Iran
Friday, 03 Sep 2021 | Volume18.Issue36
IFN Correspondent ReportsNew Islamic finance product hits Sri Lankan market
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IFN ReportsFinancing SMEs in Senegal through Islamic finance
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Monday, 14 Jun 2021 | Volume18.Issue24
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Cover StoryWorld Islamic Fintech Awards 2020: Rainbow after the storm
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IFN Correspondent ReportsAlgeria publishes decree regulating Takaful operations
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Cover StoryCBI raises ceiling
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News BriefsThe role of Islamic microfinance in the revival of MSMEs
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Special ReportsShariah compliant regtech beyond self-regulated ecosystems
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Special ReportsCBI issues new resolutions
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News BriefsCOVID-19 and emerging Shariah issues in Islamic finance
Thursday, 30 Jul 2020 | Volume17.Issue31
IFN Correspondent ReportsCBI clears the air
Thursday, 16 Jul 2020 | Volume17.Issue29
News BriefsA steady climb for Islamic finance: Is the worst behind us?
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Cover StoryFocusing on fintech
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Cover StoryMeeting cash requirements, an urgent problem for Islamic banks
Friday, 29 May 2020 | Volume17.Issue22
IFN Correspondent Reports