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Islamic Banking
User Guide
Qard Hassan
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Qard Hassan
Table of Contents
Preface ...................................................................................................................................... 3
Overview ................................................................................................................................... 3
Prerequisites............................................................................................................................. 3
Getting Started ......................................................................................................................... 4
Qard Hassan – With Schedule........................................................................................ 4
Qard Hassan – Bullet payment ....................................................................................... 5
Qard Hassan – Customer Payment ............................................................................... 6
Amend – Qard Hassan Finance Contract ..................................................................... 6
Qard Hassan – Early Maturity ......................................................................................... 7
Enquires .................................................................................................................................... 8
Limits ......................................................................................................................................... 8
Delivery ..................................................................................................................................... 8
Services..................................................................................................................................... 8
Accounting Process................................................................................................................. 8
Troubleshooting ....................................................................................................................... 9
Glossary .................................................................................................................................... 9
Index .......................................................................................................................................... 9
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Qard Hassan
Preface
The scope of the user guide is to explain the functionalities/ workflow for Qard Hassan.
The reader needs to have the basic understanding in Islamic banking.
T24 - LD.LOANS.AND.DEPOSITS and T24 – Past due applications
Overview
Qard Hassan is a contract involving a finance with two parties on the basis of social
welfare. It also can fulfil a short-term need of the borrower. During the finance process,
the repayment amount must be the same as the amount borrowed. This means no
profit or riba must be applied to the finance contract.
Prerequisites
Product Type - IS.H.PRODUCT.TYPES, ISB
The description of the product is pre-defined as shown below.
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Getting Started
Qard Hassan menu structure is displayed below.
Qard Hassan finance can be disbursed to the Customer by booking finance contract,
the repayments from customer can be scheduled or bullet type.
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3) Early maturity
Maturity date change
User has to use the Transaction input screen and input the Finance contract reference
number. It will automatically populate values to the relevant fields. User can modify the
maturity date and re-input the new maturity date. The repayment schedule dates can
be amended if required.
Amend settlement account
User has to use the Transaction input screen and input the Finance contract reference
number. It will automatically populate values to the relevant fields. User can navigate
to this screen and modify the Principal, profit liquidation accounts.
Early maturity
User has to use the Transaction input screen and input the Finance contract reference
number. It will automatically populate values to the relevant fields. Maturity date can
be changed to Today’s date. During authorization the below accounting entries are
generated.
DR Customer Account
CR Qard Hassan Receivable
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Enquires
Not Applicable
Limits
Limits are not applicable for Qard Hassan Finance contracts.
Delivery
Refer to DELIVERY user guide for more information about delivery setup.
Services
Not Applicable
Accounting Process
Finance Contract
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Early Maturity
DR Customer Account
CR Qard Hassan Receivable
Troubleshooting
Not Applicable
Glossary
………..
Index
...............
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