Qard Hasan
Halal Banking·Banking
A short-term loan is granted for special purposes eg. to pay school fees, medical, expenses or labour. Typically the Qard Hasan should be fully secured by Shares.
No mark-up or profit is charged on this Loan.
Requirements for Qard Hasan:
- Must be a member of the ZFC MFI
- Up to date Employment Contract and Pay Slip
- Two Forms of Identification
- If self-employed, Income and Expenditure Statement
- Invoice for payment of service
- Equivalent amount in shares