How to Apply for Qardan Hasana
1. Determine where to apply
Aqa Moula (T.U.S.), with karam and ehsan, has established jamaat level, regional, and central Qardan Hasana schemes to benefit momineen. To ease the process of your araz, please make sure you apply with the correct institution. If you are unclear, please talk to one of the committee members, and they can help guide you further. For instructions and forms for regional and Central Qardan Hasana, go here:
Central Qardan Hasana Web Site:
2. Download Forms
1. When applying from the Dallas Qardan Hasana scheme, you must first determine the correct form (short form or standard form).
Here is the guideline on which form to use:
+ If you do not have a deposit in Qardan Hasana scheme, use the Standard Form.
+ If you have deposits in Qardan Hasana, and require Qardan Hasana equal to or less than the amount of deposit in your personal Qardan Hasana Husseini Fund, use the short form
+ Otherwise, use the Standard Form
2. Download Form
3. Fill out form completely
The Qardan Hasana form must be completely filled out with no blank fields for it to be considered. If a field is not applicable to you, put N/A in the field. The only pages that should be left blank are the “Pledge and Hypothecation of Collateral” and the “Receipt of Securities Offered” pages. These should be filled out after your application is approved.
4. Have Guarantor Information filled out completely
Guarantor information is critical to the application form and MUST be filled out in its entirety or the form will be given back to you for further completion and the application will not be considered until this is done.
5. Gather Supporting Information
Depending on the type of Qardan Hasana application, supporting information will be needed to process your application. The committee reserves the right to ask for the following, but not limited to, depending on specifics:
* Clear title for car
* Income verification (current W-2 or 1099)
* For business applications, complete and detailed business plans
* Immigration status
* Student class and fee schedule
6. Get Janab Amil Saheb Signature on form
Once Application is approved, the following items will be required:
1. Post-dated checks in the amount of the Qardan Hasana amount that was approved
2. Post-dated Guarantor checks from both guarantors in the amount of the Qardan Hasana amount that was approved
3. Gold collateral
4. “Pledge and Hypothecation of Collateral” and the “Receipt of Securities Offered” pages in application form filled out, witnessed, and signed
7. Timing Information:
* The Qardan Hasana Committee follows Julian (Western calendar) month timeline. The deadline to be considered for a particular month is the first Saturday of the month.
* Between the first and third weeks, the Committee will review the application and decide on approval.
* The last Saturday of the month, Qardan Hasana checks (if application approved) can be collected.