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 (349)
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Tuesday, 26 Mar 2024 | Volume21.Issue13
Special ReportsCentral bank set to develop and promote Qard Hasan banking and microfinancing in Iran
Monday, 27 Nov 2023 | Volume20.Issue48
ReportsCBI approves rules on Qard Hasan funds
Thursday, 01 Sep 2022 | Volume19.Issue36
News BriefsCBI increases Qard Hasan repayment period
Monday, 14 Feb 2022 | Volume19.Issue07
News BriefsiBank provides Qard Hasan financing to strengthen community capacity
Wednesday, 17 Nov 2021 | Volume18.Issue47
Correspondent ReportsCBI 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
Correspondent ReportsQard Hasan
Thursday, 25 Jun 2020 | Volume17.Issue26
Shariah PronouncmentsChanges to the AAOIFI Qard Hasan standard: A game-changer?
Friday, 20 Jul 2018 | Volume15.Issue30
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 PronouncmentsQard and Zakat
Tuesday, 10 Dec 2019 | Volume16.Issue49
Shariah PronouncmentsThe treatment of Qard in Takaful
Wednesday, 16 Dec 2015 | Volume12.Issue50
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Correspondent Reports