Qard-e-Hasana

Qard-e-Hasana

To assist in the building of the Masjid extension, Hounslow Jamia Masjid have set up a scheme whereby you can offer an interest free loan and have the funds returned to you within a specified time period. This is known as Qard-e-Hasan which is defined below:

"Qard -e-Hasan: A virtuous loan. An interest-free loan given for either welfare purposes or for fulfilling short-term funding requirements. Qard Hasan may be viewed as something between giving charity or gift and giving a loan (qard). A debtor may voluntarily choose to pay an extra amount to the lender/creditor over the principal amount borrowed (without promising it) as a token of appreciation. This type of loan does not violate the prohibition on Riba, since it is the only type of loan that does not compensate the creditor for the time value of money. Such loans have not been uncommon in human history among peers, friends, family and relatives."

Please see the attached forms for completion and return to the Masjid:

QardeHasana_agreement_On_Demand.pdf

QardeHasana_agreement_With_Time_Limit.pdf