Qard Hassan definition

Qard Hassan means an interest-free benevolent loan in accordance with the Shariah principles;
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Examples of Qard Hassan in a sentence

  • Except for Wakalah fees, allocation charges and Qard Hassan, no other inter-segment transactions occurred during the year.

  • Investing such Qard Hassan is made at the discretion of the Board of Directors of the Bank, the results of which are attributable to the equity shareholders of the Bank.

  • Our Shariah Compliant current account is based on the Islamic financial structure of Qard Hassan.

  • Instructions for completion of Section IFR 20.60 (T) Treatment of Qard Hassan 1.

  • Deficit in participants’ funds that cause cash deficit which results in participants’ fund inability to meet its day to day expenses and obligations, a Qard Hassan must be extended immediately by shareholder fund.

  • For statutory reporting purposes, assets of the takaful fund should reflect the assets transferred from the shareholder fund as part of the Qard Hassan, i.e. assets are to be physically transferred from the shareholder fund to the takaful fund and any income accruing from these assets is income of the takaful fund.

  • The majority also provided charitable loans (Qard Hassan) to help disadvantaged groups meet social obligations like marriage.

  • The social nature of Islamic finance emerges most clearly in the practices of Zakat and Qard Hassan.

  • In addition, Murabahah is most used among Islamic financial services (35 IMFIs), ahead of unpaid deposits (11 IMFIs), Qard Hassan and Mucharakah (7 IMFIs) and Mudharabah (6 IMFIs); other Islamic services are used by very few IMFIs (Sanabel, 2012).

  • For Takaful Firms, the net capital available adjusted for Qard Hassan should be shown on line 100.

Related to Qard Hassan

  • Qard means a contract of lending money whereby the borrower is obliged to repay the equivalent amount to lender.

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  • SONIAi means the SONIA Reference Rate for:

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  • MA means Motorcycling Australia Limited;

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  • Crosswalk means that part of a roadway at an intersection included within the connections of the

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  • Commander , in relation to an aircraft, means the member of the flight crew designated as commander of the aircraft by the operator thereof, or, failing such a person, the person who is for the time being the pilot in command of the aircraft;