Qard means a contract of lending money whereby the borrower is obliged to repay the equivalent amount to lender.
Qard means interest-free loan method.
Qard means fully repayment with guarantee. Qard refers to a contract of lending money by a lender (Customer) to a borrower (Bank) where the latter is bound to repay an equivalent replacement amount of the lender. The acceptance and continuance of an account will be entirely at the discretion of the Bank subject to the lender complies with Terms & Conditions under concept of Qard. The Bank in this situation is guaranteeing the fully repayment of the money and will return the same to the lender accordingly, subject to the Bank’s procedures.
Examples of Qard in a sentence
The terms herein apply to existing accountholders only) This account is based on the Shariah principle of Qard (Loan).
The terms herein apply to existing accountholders only) This account is based on the Shariah principle of Qard (loan).
More Definitions of Qard
Qard means an interest-free loan provided by Us in the event of deficit in the Tabarru’ Fund. TheQard is repayable from the future Underwriting Surplus of the Tabarru’ Fund.
Qard means an interest free loan of any fungible commodity including money;
Qard a Shariah principle which refers to a contract of lending money by a lender to a borrower where the latter is bound to pay an equivalent replacement amount to the lender.
Qard means a benevolent loan or other forms of financial support to the takaful fund from the shareholders’ fund made pursuant to section 95 of the Islamic Financial Services Act 2013;’;
Qard means a loan provided by Us in the event of a deficit in Tabarru’ Fund.
Qard means an interest-free loan provided by Us in the event of deficit in the PRF;
Qard means an interest-free loan provided by Us to the Participants’ Risk Fund in the event it becomes deficit and unable to pay the Takaful benefits to eligible participants. This amount will be recovered from future Surplus.