The first full-fledged interest-free bank in Ethiopia

Qard Al Hassan Financing

Welcome to Zamzam Bank’s Qard Al Hassan Financing –a benevolent financial assistance program rooted in Islamic principles. This program is dedicated to providing ethical financial support in times of emergencies and for community development. Qard Al-Hasan is an essential concept in Islamic finance, as it aligns with the principles of social responsibility, equity, and the promotion of financial well-being within the community

Qard Al Hassan Financing Benefits and Features

Interest-free Loan

Qard Al-Hasan is an interest-free financing, where the lender provides the funds to the borrower in need for small-scale projects or start-ups without charging any interest or markup.

Repayment of Principal

The borrower is only required to repay the principal amount of the financing, without any additional charges or fees.

Voluntary and Charitable Nature

Qard Al-Hasan is considered a voluntary and charitable act, where the lender provides the financing out of goodwill and to assist those in need.

No Profit or Reward

The lender does not expect any profit, return, or reward for providing the Qard Al-Hasan financing. The intention is solely to help the borrower.

Flexibility in Repayment

If the borrower is unable to repay the financing on time, the lender may grant an extension or waive the repayment, as per the principles of Islamic finance.

Sources of Funds

Qard Al-Hasan financing can be funded from various sources, such as charitable donations, zakat (obligatory charity), or the bank’s own resources set aside for this purpose.

The Qard Al Hassan Financing Process

Application and Assessment

Submit an application clearly outlining the emergency or community project.
Assessment of the financial need and its impact.

Approval and Disbursement

Approval of the Qard Al Hassan application.
Disbursement of funds directly to the beneficiary or community project.

Repayment Plan

Collaborative development of a flexible and fair repayment plan.
Adjustments based on the borrower's financial circumstances.

Qard Al Hassan Financing Requirements

Borrower Eligibility

The borrower must have a genuine need for financial assistance and a reasonable plan to repay the financing.

Financing Purpose

The purpose of the Qard Al-Hasan financing must be in line with Shari’ah (Islamic law) principles and not for any prohibited or unethical activities.

Documentation and Transparency

The financing agreement and related documentation should be clear, transparent, and in accordance with Shari’ah requirements.

Experience Ethical Assistance with Zamzam Bank

Choose Qard Al Hassan Financing at Zamzam Bank for ethical, compassionate, and community-driven financial support. Whether it's a personal emergency or a community development project, Zamzam Bank is committed to providing benevolent financial solutions. Join us in building a future grounded in Islamic financial principles.
Request Financing

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