Loans and Debts

There are different ways through which funds could be raised to meet individuals and organisations needs and funding requirements. Raising loans is one of the various ways these requirements can be fulfilled. In the terminology of Islamic framework, Qard and Dayn relate to the giving or taking of loans. However, the word Dayn has a broader connotation then the word Qard. Dayn incurs in any way which leaves a debt as a liability to another party to be paid later without any profit over the principal amounts. Whereas, Qard could be defined as an

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