SBM Islamic Microfinance
With the Aim of to enable the low income individuals to start their own business, Loan application and disbursement procedures are designed to assist low income borrowers. They are simple to understand, locally provided and easily accessible with minimal paperwork.
Qarz-e-Hasna is a loan that is provided to assist you in times of need and when you are able, you can pay this back at once or in installments to help others in need.
The concept of Qarz-e-Hassan (کرض-ا-حسّنا ) is not new in Islam. Karz-e-Hassan is that loan which given on the basis of humanity (نیکی ) and good deed (حسن سولوک ). To put it simply, it is Interest free Loan provided to the Needy person. The Eligibility of the needy person is verified, checked and then Qarz-e-Hassana(Qarz-e-Hassana) is provided to the person.
Before providing Qarz-e-hassana, the terms and conditions are always put in Black and white. The amount of Qarz-e-Hassana is documented, along with Person’s name, address, his NIC, his utility bill belonging to his permanent address. The time limit is also decided on which he will be making the payments. If during the time, he dies, the complete loan is righted off from his account without any interest or load on his Family. His family, if wishes can then opt to provide the remaining dues otherwise, the complete loan is righted off.
- Kiryana Store
- Beauty parlor
- Electric store
- Painting shop