QMB at a glance
Having extended entirely on goodwill basis, with a benevolent concept of the role, The Qarz Al-Hasaneh Mehr Iran Bank, abbreviated as QMB, is Iran's first highly specialized full-fledged Islamic bank specifically engaged in providing a micro-loan called “Gharz Al-Hasanah” “Qard al-Hasan” or “Qard Hasan” (translates literally into an interest-free ‘good loan’) which is absolutely interest-free. 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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Healthcare and medical treatment have always been the center of attention in the community at which both people and health senior officials frequently take a fresh look due to the expenses involved especially as far as life-threatening and high-risk illnesses are concerned. Entering in this area by offering a 20 million Toman loan of zero interest for applicants, The Qarz Al-Hasaneh Mehr Bank (QMB) of Iran managed to attract a lot of interest from the media and attention from several Iranian prominent healthcare officials. The highlights of their views follow here:
In “The Year of Support for Iranian Products”, QMB communicated and implemented a new directive on supporting local products through allocating interest free loans to individuals who wish to purchase Iranian goods!
Expressing views on the concept of Gharz Al-Hasanah (qard al-hasan) practice, a number of High-ranking Religious Figures strongly supported QMB!
Feeling a special sense of responsibility towards Iranian students, QMB allocated the sum of 320 billion IR Tomans Higher Education interest-free Loans aimed at deserving students from across the nation intending to continue their tertiary education:
In what is seen as a Good Solid Performance in 2017-2018 and a Dramatic Gesture to help promote entrepreneurship to bolster employment and support for Iranian Products in line with guidelines suggested by the Leader of Islamic Revolution who designated the Iranian year 1397 as the “Year of Support for Iranian Products”:
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