A Goodly Loan Cooperation Protocol was signed between MÜSİAD and Vakıf Katılım. Within the scope of the protocol, Goodly Loan financing support without maturity differences and without commission will be provided to business people in need in the earthquake region.

The Independent Industrialists and Businessmen Association (MÜSİAD) and Vakıf Katılım are continuing their work for the regions affected by the disaster. Within this framework, the Goodly Loan Cooperation Protocol Signing Programme was held at the MÜSİAD Head Office with the participation of MÜSİAD President Mahmut Asmalı, Vakıf Katılım Chairman of the Board of Directors Öztürk Oran, Vakıf Katılım General Manager Osman Çelik, MÜSİAD Qard al-Hasan Fund Chairman Muhammet Ali Özeken and MÜSİAD Board of Directors Members. It was reported that within the scope of the cooperation protocol signed between the parties, Goodly Loan financing support without maturity differences and without commission will be provided to MÜSİAD members whose workplaces and commercial processes were damaged in the earthquake region.

With the protocol, financing support for disaster-stricken business people will expand

Speaking at the programme, MÜSİAD President Mahmut Asmalı recalled that MÜSİAD's work for the disaster region has continued without interruption since the first day and emphasized that the agreement concluded with Vakıf Katılım will expand the financing support provided to business people in the region.

President Asmalı made the following statements: 

"Alongside our comprehensive work for our citizens affected by the earthquake in the disaster region, we are providing capital support to our members in the region through the MÜSİAD Qard al-Hasan Fund so that business and commercial life in the region can be put back on its feet. Together with this, by transferring the dues collected from our members to this fund with the understanding of the Goodly Loan, we make them available to our members affected and damaged by the disaster without commission or as a grant in such calamities and in case of need, and we support their own resources. On this occasion we had invited our business world to support and spread the practice and understanding of the Goodly Loan, which comes from our ancient traditions and our culture of solidarity. With this protocol concluded with Vakıf Katılım, we are expanding our Goodly Loan work. Today is the day to be one and together. We will bind our wounds together and rise to our feet together. We thank Vakıf Katılım for the support they have given to this exemplary practice, and we hope that the practice in question will also set an example for other NGOs and Participation Banks and will become widespread."

MÜSİAD and Vakıf Katılım will spread the Goodly Loan practice

Vakıf Katılım Chairman of the Board of Directors Öztürk Oran said in his statement after the programme that with the cooperation carried out by MÜSİAD and Vakıf Katılım the Goodly Loan practice will be spread even further.
Chairman Oran continued his assessment as follows:

“The MÜSİAD presidents and managers who brought the Qard al-Hasan Fund practice onto the agenda years ago put this practice into life seven years ago and gave it a strong structure. As Vakıf Katılım, we too have further expanded the scope of the fund in question so that this understanding, which MÜSİAD brought to life and which lies at the foundation of participation finance, can be broadened further and reached by those in need. We hope that the cooperation will be a means of good for both parties.”

Priority will be given to members damaged by the earthquake

Vakıf Katılım General Manager Osman Çelik, who shared his assessments at the programme, emphasized that with the cooperation priority will be given to members damaged by the earthquake.

Çelik made the following statements:

“Embracing the understanding of the civilization of foundations and the culture of foundations, we give priority to projects aimed at protecting foundations, which are one of the foundations of social balance, and at increasing their revenues. We evaluate the implementation of the Goodly Loan, an ancient Anatolian tradition, within this scope. We are very happy to cooperate with MÜSİAD for the Goodly Loan project. Besides continuing a deep-rooted tradition, we aim to extend the Goodly Loan to MÜSİAD Fund Members who need short-term resources. I would also like to state that in the first stage within the scope of the project, priority will be given to members damaged by the earthquake. This financing model, which we will extend without maturity differences and without commission, is in fact a social responsibility project for Vakıf Katılım. MÜSİAD's cooperating with a financial institution within this scope for the first time and choosing Vakıf Katılım for this is a mark of favour shown to us. May our cooperation be a means of good.”  

The cooperation will contribute to the effective use of the Goodly Loan fund

MÜSİAD Qard al-Hasan Fund Chairman Muhammet Ali Özeken, who shared his assessments regarding the protocol, stated that the understanding of the Goodly Loan is one of the fundamental elements of civilization and said, "Thanks to the cooperation we have made with Vakıf Katılım and signed today, we will now be able to use our fund more effectively and meet the needs of more of our members".

Özeken continued his words as follows:

"The Goodly Loan is one of the fundamental elements of our civilization. In the Holy Qur'an, our Lord advises in six separate verses that a goodly loan be extended to Him. Of course, our Lord has no need of money here, but He indicates the necessity of helping people in need. Again, in a Noble Hadith it is emphasized that the Goodly Loan, that is, the practice of a goodly loan, is far more meritorious than alms. MÜSİAD brought the institution of the Goodly Loan to life seven years ago. While in the modern world people do not even lend to one another without expecting any benefit, our MÜSİAD Qard al-Hasan Fund extends a long-term loan to our members who have fallen into difficulty without expecting anything in return, without interest and without taking any maturity difference. Over the past seven years we have reached a considerable fund size and have provided support to more than 150 members in need with the contribution of more than 1,600 of our members. The earthquake disaster we experienced recently pushed us to carry out work specifically on this fund once again. That is why, thanks to the cooperation we signed with Vakıf Katılım, we will now be able to use our fund more effectively and meet the needs of more of our members."