Giving al-qard al-hasan or interest-free loans is a Quranic imperative. A major initiative of the Business Development Department is to provide Qardan Hasana, for which it has established organisations and trusts as an impetus for the community’s economic development. These trusts maintain uniformity of operation all over the world and base their lending on fixed guidelines, fixing the term of the loan, scrutinising applications, advising the applicant on the viability of the project, securing loans with reasonable collateral and trusted guarantors and extending the loan period when necessary.  

These guidelines, based on Islamic principles, have institutionalised the concept of Qardan Hasana. A number of Qardan Hasana organisations now exist across India, Sri Lanka, Pakistan, the UAE, Kuwait, Egypt, Madagascar, Kenya, Tanzania, the UK, Canada, the USA, and the Far East where Dawoodi Bohras live, and maintain a considerable corpus fund.

The department oversees and manages the functioning of all local qardan hasana bodies to ensure that funds are properly allocated and the maximum number of community members benefit from them.

The overall aim is to help community members engaged in entrepreneurial activities to grow their businesses and commercial ventures. This is achieved by fostering an exchange of ideas, providing funding and startup capital, as well as creating opportunities for continuous learning and skill development through apprenticeships, seminars and short-term courses.

Additionally, a partnership program has been developed that facilitates mutual understanding and conflict resolution between business partners. Other activities include raising awareness regarding household budgeting and publishing helpful resources.