Qard definition
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
Sekiranya Akaun Pelaburan Risiko Am (GRIA) mempunyai baki yang tidak mencukupi untuk membayar manfaat Takaful Anda dalam Tempoh Takaful, Kami akan menampung baki dalam GRIA di bawah prinsip Qard (pinjaman) dengan syarat kekurangan tersebut bukan disebabkan kecuaian Kami.
Anda selanjutnya bersetuju bahawa lebihan masa depan ▇▇▇▇ ▇▇▇▇ diperolehi daripada GRIA dalam Tempoh Takaful Anda boleh digunakan untuk membayar tunggakan Qard dalam GRIA (jika ada) kepada Kami.
More Definitions of Qard
Qard means a contract of lending money whereby the borrower is obliged to repay the equivalent amount to the lender.
Qard means an interest-free loan provided by Us in the event of deficit in the Tabarru’ Fund. The
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 prior to distribution.
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 an interest free loan of any fungible commodity including money;
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, concerning current accounts, the transfer of ownership of money from one party to the other, who is committed to returning the same, on-demand or at an agreed date, without any increment.