Al-Qardh Al-Hasan

Sukria, Siti Nabilah and M. Ali, Amy Zuhaira and Kayadibi, Saim (2011) Al-Qardh Al-Hasan. In: The Principal of Currency Value System and Islam Banking and Finance. IIUM Press, Kuala Lumpur, pp. 155-169. ISBN 978-967-418-118-5

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Abstract

Islam allows loan as a form of social service among the rich to help the poor and those who are in need of financial assistance. Loan in Islam may be obtained in two ways: (i) Loan with condition of repayment, and (ii) gratuitous loan without any compensation or gift. However, Islam does not recognize any loan with interest for the benefit of the debtor. It only recognizes gratuitous loan or better know it as AI-qard AI-hasan. Such loans have not been uncommon in human history among peers, friends and relatives. Kindness is encouraged in Islam. The Prophet SAW is reported to have said: "The inmates of Paradise are of three types: one who wield authority and is just and fair; one who is truthful and has been endowed with power to do good deeds and the person who is merciful and kind hearted towards his relatives and to every pious muslim, and who does not stretch out of his hand in spite of having a large family to support

Item Type:	Book Chapter
Additional Information:	6485/20530
Uncontrolled Keywords:	Al-Qardh Al-Hasan
Subjects:	H Social Sciences > HG Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User:	Assoc. Prof. Dr. Saim Kayadibi
Date Deposited:	12 Oct 2012 19:13
Last Modified:	06 Nov 2012 18:35
URI:	http://irep.iium.edu.my/id/eprint/20530

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