The 5th Ordinary General Assembly of the Independent Industrialists and Businessmen Association (MÜSİAD) Qard al-Hasan Fund was held at MÜSİAD Head Office with great enthusiasm and high participation. In addition to more than 500 members, MÜSİAD's former presidents and the previous chairmen of the Qard al-Hasan Fund attended the program.
Held at MÜSİAD Head Office in İstanbul, the 5th Ordinary General Assembly of the MÜSİAD Qard al-Hasan Fund was, beyond being merely a corporate meeting, the scene of a visionary gathering on the future of the Qard al-Hasan model, one of the most important representative mechanisms of the Islamic economic understanding.
In addition to more than 500 MÜSİAD members, MÜSİAD Founding President Erol Yarar, 2nd Term President Ali Bayramoğlu, 5th Term President and DEİK Chairman Nail Olpak, 7th Term President and High Advisory Council Chairman Mahmut Asmalı and the former chairmen of Qard al-Hasan also attended the meeting. A large number of members and guests devoted to the fund likewise showed great interest in the program.
Qard al-Hasan: The Institutional Memory of Interest-Free Solidarity
Delivering the opening speech of the General Assembly, former Chairman of the Qard al-Hasan Fund Muhammet Ali Özeken drew attention to the importance of Qard al-Hasan in terms of Islamic economics and to the point it has reached. Stating that some TRY 120 million in resources had been transferred since 2016 and that a significant part of this had given the business world breathing space without any involvement in interest, Özeken emphasized that the system needs to become further institutionalized:
“At the point we have reached today, we must speak not only of successful practices but also of the need to give the system a legal infrastructure and to reach broader segments of society. Qard al-Hasan is not merely an aid system; it is a claim to civilization that places justice, fairness and economic independence at its centre.”
“Qard al-Hasan Is the Embodiment of a Moral Economy That Works With Conscience”
Delivering another important speech at the general assembly, MÜSİAD President Burhan Özdemir stated that the Qard al-Hasan Fund is a concrete reflection of MÜSİAD's deep-rooted values:
“We are members of a civilization that sees production not only as an economic but also as a human activity. As MÜSİAD, we have always kept this understanding to the fore throughout our journey of more than 35 years. Our Qard al-Hasan Fund is precisely the institutionalized form of this moral economic understanding.”
Saying that Qard al-Hasan has today become not merely a lending instrument but a mechanism of conscience, Özdemir also drew attention to the numerical success the fund has achieved:
“Today, with more than 2,500 members, we have reached a structure providing support exceeding TRY 113 million. In the 2023 earthquakes that we call the Disaster of the Century, we experienced once again how vital this solidarity model is.”
Thanking Muhammet Ali Özeken, whose term of office has ended, Özdemir also expressed his confidence in the new chairman Mustafa Aktaş and concluded his remarks as follows: “We will continue to work together so that this movement of goodness grows even further. Qard al-Hasan is a value entrusted to us by our civilization, and we are determined to grow this trust.”
“Qard al-Hasan Is a Trust”
Elected Chairman of the Qard al-Hasan Fund by open vote, Mustafa Aktaş stated in his speech of thanks that he had taken on this duty as a responsibility:
“This structure is not only financial but also a moral and social representation. In MÜSİAD's world of values, the place of Qard al-Hasan is far beyond that of a charitable institution. We will work together to make this structure more widespread and stronger. Our Qard al-Hasan Fund is not merely a structure providing material support; it is at the same time a movement of goodness in which trust, solidarity and the law of brotherhood are institutionalized. We are rebuilding this structure, inspired by our deep-rooted values of civilization, in order to make it viable in the modern world. As I take over this important responsibility here today, I extend my gratitude to everyone who has contributed. This fund is a pool of goodness in which loans given interest-free and without any return, solely for the sake of God, are gathered. Our aim is to make our brothers and sisters experiencing economic difficulty feel that they are not alone, and to create a climate of moral solidarity beyond material support.”
Within the scope of the program, plaques were presented to former chairmen, to members who made high contributions and to successful branches. While the branches that reached the most members and those that achieved the highest rate of participation were rewarded, a special plaque of thanks was also given to the three members who contributed most to the fund. In the presentations made throughout the general assembly, activity reports and budgets were shared with the members and adopted by open vote.
Speaking at the program, MÜSİAD Founding President Erol Yarar, MÜSİAD 2nd Term President Ali Bayramoğlu, MÜSİAD 5th Term President and DEİK Chairman Nail Olpak and MÜSİAD 7th Term President and High Advisory Council Chairman Mahmut Asmalı assessed the development of Qard al-Hasan from the past to the present and drew attention to the need to spread the model further. Each of them shared memories from their own terms and conveyed their wishes of success to the new administration.
