(The Interest Free Bank)
Intellectual Propriety Rights are Internationally Legally Reserved
INTRODUCTION
The Bank is based on the idea to help people and elimination of interest based banking as the Interest based banking destroys the peoples life, The Bank will invest in your business idea and will also advance you the personal loan but will never charge interest on it. The Bank will work on ba
sis of memberships, you have to contribute to the money pool to get the membership in shape of membership fee, your paid membership fee will be utilized to give loans to other members. For business loans please see the Business club. As per the first test case the QHB is financing a young female designer to produce T-shirts with logo as above to generate the revenue to announce first 30 memberships. Once you are member you can apply as many loan as you want upto the limit of the club after repaying your first loan. Please write to me for further info on the Bank and Questions [email protected]
Inventor/Author
Mian Zaki Ejaz
Enrolled PhD Student (University of Wales; Under the Chancellorship of HRH Prince Charles)
LLM (Hull, England)
HOW CAN YOU BECOME MEMBER
Million Club
1. Any legal person or entity can become the life member of the club by paying the membership fee of Rs. 250,000. The said amount will be contributed to the Money Pool , and will never be used by the QHB for its expenses or profit.
2. By paying the required amount to the QHB (Qaraz-e-Hasana Bank), the person will become the life ‘Member’ of the club and is eligible for advancement of loan from QHB upto Rs. 10,00,000 (Rupees One Million) during the life time of the membership, the said Member will furnish collateral guarantee/security against the value of the loan for the time period/volume of the loan.
3. The Member will also pay yearly, a nominal subscription fee of the membership he retains.
4. The membership is not sellable and the amount paid is non refundable.
5. No interest/rent/cash ever will be charged whenever the Member takes loans from the QHB in his life time.
6. Completion of Grace Period is required to proceed after the accomplishment of loan to another/further loan. Any legal person or entity can become the life member of the club by paying the membership fee of Rs. 125,000. By paying the required amount to the QHB (Qaraz-e-Hasana Bank), the person will become the life ‘Member’ of the club and is eligible for advancement of loan from QHB upto Rs. 500,000 (Five Hundred Thousand Rupees) for the life time of the membership, the said Member will furnish collateral guarantee/security against the value of the loan for the time period of the loan.
3. Any legal person or entity can become the life member of the club by paying the membership fee of Rs. 25,000. By paying the required amount to the QHB (Qaraz-e-Hasana Bank), the person will become the life ‘Member’ of the club and is eligible for advancement of loan from QHB upto Rs. 200,000 (Two Hundred Thousand Rupees), the said Member will furnish personal guarantee of the Two person/legal person who are financially sound as assessed by Credit History Assessment Team, against the value of the loan for the time period of the loan.
3. No interest/rent/cash/gift ever will be charged whenever the Member takes loans from the QHB in his life time.
6. Business Club
1. Any Legal Person/Person/Entity/Organization can apply to the QHB for Business loan.
2. The said person has to pay a contribution to the Money Pool which would be called ‘Voluntary Contribution’ every time he apply for the loan. The volume of contribution will be decided by the Board of Director in each case and is Voluntary in nature. It is upon the decision of the BOD to waive the contribution if the applicant is in possession of such an idea which is beneficial for the business development in the country or being highly educated and talented is of deserving case.
3. No Interest/rent/cash/gift will be charged on Business loan.
4. The QHB will be remain partner upto 25% or more of the investment in every business loan, and will not recover the loan upto 25% or more of the equity from the financed business loan till the life time of the business. (As if the QHB recover also the partnership value amount than it will come under the definition of Riba/Interest).
7. The person will furnish collateral guarantee/security against the value of the loan for the time period of the loan.
8. The person will pay the 25% or more profit of the financed Business to the QHB till the life time of the Business. The Car Club
The same Rules apply as of Million Club, the member can always change the car during his/her subsisting loan, please contact for more details. QHB YOUNG ENTREPRENEUR DIVISION
The QHB will establish one QHB Store in the area of operation of its each city, which will constitute/display products of the young business man/woman such as innovative clothes designer/innovative interior designer/innovative electrical products etc, who are being finance by the QHB to accomplish their innovative designed products. Here the Business Club Rules will apply.
