QMB at a glance
Founded on December 13th 2007, and established more than 540 branches across the country, The Qarz Al-Hasaneh Mehr Iran Bank (QMB) is the country's first specialized full-fledged Islamic bank specifically engaged in providing benevolent loan called “Qard al-hasanah” that is absolutely interest-free. However; the bank is permitted to charge a minimum service charge (4%) to cover the cost of its administrative fees. The loan is essentially granted to the legal and individual entities in dire need for either welfare purposes or for fulfilling short-term funding requirements.
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