Qard Al-Hassan model as an institutionalised method of Islamic finance
This study aims to show that it is possible to apply Qard Al-Hassan (interest-free loan) within a corporate structure, enabling extra earnings rather than a decrease in money for businesses. It is obvious that this model can create a considerable solution for financial problems if it is fully unders...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Kebangsaan Malaysia
2022
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| Online Access: | http://journalarticle.ukm.my/19335/ http://journalarticle.ukm.my/19335/1/56074-184702-1-SM.pdf |
| _version_ | 1848814812022177792 |
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| author | Kazak, Hasan Alim, Hasan Basri |
| author_facet | Kazak, Hasan Alim, Hasan Basri |
| author_sort | Kazak, Hasan |
| building | UKM Institutional Repository |
| collection | Online Access |
| description | This study aims to show that it is possible to apply Qard Al-Hassan (interest-free loan) within a corporate structure, enabling extra earnings rather than a decrease in money for businesses. It is obvious that this model can create a considerable solution for financial problems if it is fully understood and disseminated. As an effective solution, it aids businesses having Islamic concerns and sensitivity to stay away from interest. The purpose of this research is to propose that Qard Al-Hassan, a significant part of interest-free financial system, should become active again as it leads the businesses to increased value rather than financial losses. This study is based on a theoretical and conceptual framework and reveals a basic model in which an institutional Qard fund is established. This research considers a simple model in the form of a corporate Qard fund to show that Qard Al-Hassan will bring about overall financial benefits rather than losses. Further studies on this topic are likely to show improved and detailed versions of Qard fund. Researchers carrying out such studies on this topic will contribute to the financial world and literature. It has been pointed out that a Qard Al-Hassan fund would allow corporations to meet their financial needs, and the money corporations invest in this fund would not result in any kind of loss for them; rather, it would bring more benefits than estimated. |
| first_indexed | 2025-11-15T00:40:01Z |
| format | Article |
| id | oai:generic.eprints.org:19335 |
| institution | Universiti Kebangasaan Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T00:40:01Z |
| publishDate | 2022 |
| publisher | Penerbit Universiti Kebangsaan Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | oai:generic.eprints.org:193352022-08-15T03:35:31Z http://journalarticle.ukm.my/19335/ Qard Al-Hassan model as an institutionalised method of Islamic finance Kazak, Hasan Alim, Hasan Basri This study aims to show that it is possible to apply Qard Al-Hassan (interest-free loan) within a corporate structure, enabling extra earnings rather than a decrease in money for businesses. It is obvious that this model can create a considerable solution for financial problems if it is fully understood and disseminated. As an effective solution, it aids businesses having Islamic concerns and sensitivity to stay away from interest. The purpose of this research is to propose that Qard Al-Hassan, a significant part of interest-free financial system, should become active again as it leads the businesses to increased value rather than financial losses. This study is based on a theoretical and conceptual framework and reveals a basic model in which an institutional Qard fund is established. This research considers a simple model in the form of a corporate Qard fund to show that Qard Al-Hassan will bring about overall financial benefits rather than losses. Further studies on this topic are likely to show improved and detailed versions of Qard fund. Researchers carrying out such studies on this topic will contribute to the financial world and literature. It has been pointed out that a Qard Al-Hassan fund would allow corporations to meet their financial needs, and the money corporations invest in this fund would not result in any kind of loss for them; rather, it would bring more benefits than estimated. Penerbit Universiti Kebangsaan Malaysia 2022 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/19335/1/56074-184702-1-SM.pdf Kazak, Hasan and Alim, Hasan Basri (2022) Qard Al-Hassan model as an institutionalised method of Islamic finance. Islamiyyat : Jurnal Antarabangsa Pengajian Islam; International Journal of Islamic Studies, 44 (1). pp. 203-220. ISSN 0216-5636 https://ejournal.ukm.my/islamiyyat/issue/view/1522 |
| spellingShingle | Kazak, Hasan Alim, Hasan Basri Qard Al-Hassan model as an institutionalised method of Islamic finance |
| title | Qard Al-Hassan model as an institutionalised method of Islamic finance |
| title_full | Qard Al-Hassan model as an institutionalised method of Islamic finance |
| title_fullStr | Qard Al-Hassan model as an institutionalised method of Islamic finance |
| title_full_unstemmed | Qard Al-Hassan model as an institutionalised method of Islamic finance |
| title_short | Qard Al-Hassan model as an institutionalised method of Islamic finance |
| title_sort | qard al-hassan model as an institutionalised method of islamic finance |
| url | http://journalarticle.ukm.my/19335/ http://journalarticle.ukm.my/19335/ http://journalarticle.ukm.my/19335/1/56074-184702-1-SM.pdf |