MÜSİAD Qard al-Hasan Fund

Our project, launched to sustain and pass on to future generations the ancient Anatolian tradition of Qard al-Hasan, which means “beautiful loan”, is a mark of our firm attachment to our roots and our values.

With the Qard al-Hasan Fund project, we make possible a sustainable and genuinely beneficial movement of mutual assistance for our members and their families.

Besides sustaining a deep-rooted tradition, the project is extremely valuable in that it enables our members to meet their needs in situations requiring financial support without being obliged to turn to banks and while staying clear of the spiral of interest.

The idea of transforming the culture of mutual assistance and solidarity among MÜSİAD members into an institutional structure and of facilitating the trade of our merchants gave rise to the MÜSİAD Fund.

The MÜSİAD Fund has brought the concept of “Qard al-Hasan”, one of the fine values of our civilization, and its principles onto the agenda of today’s commercial life, and has institutionalized the practice of mutual assistance and solidarity.

The fundamental aim of the “Qard al-Hasan” Fund is to be able to put into practice this lending relationship commanded by God and, in doing so, to ensure that this institution becomes actively systematized in the life of society.

In this way it aims to increase the rate of accumulation in the trade of our country, to enable merchants to display solidarity in their difficult days and, by lifting from the merchant the phenomenon of interest — one of the burdens weighing on trade — through the “Qard al-Hasan” mechanism, to increase abundance.

1. What is Qard al-Hasan?

Qard al-Hasan means a beautiful loan. Appearing in five different chapters of our Holy Book, the Qur’an — Surah al-Muzzammil verse 20, Surah al-Baqarah verse 245, Surah al-Ma’idah verse 12, Surah at-Taghabun verse 17, and Surah al-Hadid verses 11 and 18 — Qard al-Hasan is described as a beautiful loan given for the sake of God. Qard al-Hasan, which holds an essential place in the era of the Prophet, the Four Caliphs, Andalusia, the Seljuk and Ottoman periods and therefore in the roots of our civilization, but which is not currently sustained as an institution in practice, is a social phenomenon. Distributed with justice in trustworthy hands, Qard al-Hasan is an institution capable of contributing to the reform of a corrupted social life.

Qard al-Hasan means providing the person in need and in debt with the sum that will meet their need, without interest and solely to earn the pleasure of God, so that they may stay away from what is forbidden and not become entangled in it. The MÜSİAD Qard al-Hasan Fund was established on the premise that the practice of Qard al-Hasan, which lies on the righteous path, must be developed and supported so that trade may be developed through lawful means, free of the interest-based transactions that today enter every area of our lives.

2. What is the purpose of the MÜSİAD Qard al-Hasan Fund?

The Qard al-Hasan Fund was established to provide a culture of mutual assistance and solidarity among the members of the Independent Industrialists and Businessmen Association. Its fundamental aim is to be able to put into practice this lending relationship commanded by God and, in doing so, to ensure that this institution becomes actively systematized in the life of society. It has also adopted as a principle assisting the surviving spouse and children of a deceased member, attending to their every social and cultural need, and ensuring the protection of their rights and interests. Meeting the members’ essential goods as well as other goods and services, and providing gratuitous aid to members or to the spouses and children of deceased members, are also among the goals the Fund seeks to achieve.

For detailed information and membership conditions you may visit https://karzihasen.org.tr/.