qard al hasan

qard al hasan
USA
qard al hasan, Also known as al-qard al-hasan, qardh hasan or qard hasan.
An Islamic finance term, qard al-hasan refers to an interest free loan that is typically made to the needy. In a qard al hasan transaction, the borrower repays the principal amount of the loan without interest, mark-up or a share in the business for which the loan was used. This product is consistent with the Sharia prohibition against riba because the borrower is not compensating the lender for the money advanced.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • al-qard al-hasan — USA qard al hasan, Also known as al qard al hasan, qardh hasan or qard hasan. An Islamic finance term, qard al hasan refers to an interest free loan that is typically made to the needy. In a qard al hasan transaction, the borrower repays the… …   Law dictionary

  • qard hasan — USA qard al hasan, Also known as al qard al hasan, qardh hasan or qard hasan. An Islamic finance term, qard al hasan refers to an interest free loan that is typically made to the needy. In a qard al hasan transaction, the borrower repays the… …   Law dictionary

  • qardh hasan — USA qard al hasan, Also known as al qard al hasan, qardh hasan or qard hasan. An Islamic finance term, qard al hasan refers to an interest free loan that is typically made to the needy. In a qard al hasan transaction, the borrower repays the… …   Law dictionary

  • Islamic banking — Banking A series on Financial services …   Wikipedia

  • NewHorizon — Editor Tanya Andreasyan Categories Trade publication, financial services Frequency 4 issues per year Publisher IBS Publishing Year founded 1991 First issue …   Wikipedia

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