Qardh Hassanah Fund
Empowering lives through Shariah-compliant, interest-free financial assistance.
Executive Summary
ABAK’s Qardh Hassanah Fund provides ethical financial assistance to individuals and businesses facing hardship. It is designed to promote economic empowerment, dignity, and social inclusion through interest-free loans.
Objectives
- Provide interest-free loans to those in need
- Support students, small businesses & low-income families
- Promote social solidarity & ethical financing
- Establish a sustainable revolving fund
Key Benefits
- Compassionate support for vulnerable individuals
- Access to ethical financial solutions
- Reduces cycles of debt
- Fosters responsible borrowing
Governance & Management
Managed by ABAK’s QHFC Committee, ensuring transparency and accountability through screening, approvals, disbursement, and monitoring.
Eligibility & Terms
Applicants must demonstrate financial need. Loans are interest-free with flexible repayment plans based on necessity and supported by references.
Loan Application Process
- Application Submission & Processing
- Verification & Assessment
- Recommendation & Committee Review
- Approval & Disbursement
- Follow-up, Recovery & Support
Challenges & Solutions
- Risk managed through strict assessment & guarantors
- Awareness & financial literacy training
- Strategic collaboration with institutions
Future Prospects
- Digital transformation & online application
- Expanding awareness & education programs
- Strengthening partnerships & accountability