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What is the Al-Qard Al-Hassan Association?
-excerpt from Sayyed Hassan Nasrallah’s speech on the 8th of January, 2021
#Thread
-excerpt from Sayyed Hassan Nasrallah’s speech on the 8th of January, 2021
#Thread
The Al-Qard Al-Hassan Association had recently been subject to a wave of attacks by several sites and media outlets. As a result, Sayyed Hassan Nasrallah took the time to offer a thorough explanation about the association clarifying the misconceptions and debunking the lies.
side note:
Even after Sayyed's speech, several news outlets continued to write more articles about the association, handpicking parts of the speech & distorting the meaning. The response still lies in this very speech.
Everything below this tweet is the words of Sayyed Nasrallah.
Even after Sayyed's speech, several news outlets continued to write more articles about the association, handpicking parts of the speech & distorting the meaning. The response still lies in this very speech.
Everything below this tweet is the words of Sayyed Nasrallah.
In 1983-84, a group of brothers took the initiative to establish an organization aiming to help & aid the people. Several associations were founded upon individual initiatives by scholars & other personnel, which were later joined under Hezbollah's wing after it grew stronger.
One of the major reasons that inspired the foundation of this organization was the people's need for financial aid and their inability to pay the interests of bank loans. This is in addition to the religious issue with loan interests and their impermissibility.
An amount of money was collected from donors and from what we call "Khums" and they began offering small loans. By strictly abiding by certain regulations, the association began to grow. It was not funded by Iran or any other party, it was only from the people's money.
The Al-Qard Al-Hassan Association gained a legal license in 1987. The loans are usually offered to those who need money to get married, renovate their homes, open offices or clinics, so on and so forth. The work of this association is humanitarian, ethical, and even religious.
One of the most honorable acts in Islam is almsgiving (Sadaqa), but what ranks higher is giving Islamic loans, & this is true for several reasons. Through almsgiving, you may relieve a person's need, but loans keep the economic cycle moving, leading to more work & productivity.
For someone to be eligible for a loan, they must either mortgage gold or property (gold being more preferable), or have a sponsor/patron depositing an amount of money in the association; they may not be a merely moral sponsor.
Those regulations were strictly abided by. Even if I, the poor servant, the Secretary-General of Hezbollah, sent a letter to the director-general of the Al-Qard Al-Hassan Association asking him to kindly lend someone $2000, he wouldn't do that without mortgaged gold or a sponsor.
There are permanent participants who deposit their money in the association to sponsor individuals. There are also non-permanent participants who deposit their money in the association & allow it to use this money for loans. This was how the association's balance began growing.
There are several factors that contributed to the success & continuity of this association:
1. It does not depend on any investments or trade deals. Thus, there is no risk of any loss. It is a nonprofit organization, unlike banks, for those trying to compare.
1. It does not depend on any investments or trade deals. Thus, there is no risk of any loss. It is a nonprofit organization, unlike banks, for those trying to compare.
2. The mortgages and sponsors acted as financial guarantees.
3. They make sure to only grant loans of small to medium amounts of no more than $5000-$6000. The average loan is at $2000. Large loans are only offered in very rare cases.
3. They make sure to only grant loans of small to medium amounts of no more than $5000-$6000. The average loan is at $2000. Large loans are only offered in very rare cases.
4. Probably one of the most influential factors: For 36 years, from 1984 till 2020, not a single person's money or property was lost in this association, even in the 2006 war when one of the depositories and several branches were bombed and a lot of money was burned.
5. This association is sponsored & protected by a trustworthy and reliable party called Hezbollah.
6. The administration of this association, its director-general and managers, have proven to be highly qualified, trustworthy, and strict in the implementation of its rules.
6. The administration of this association, its director-general and managers, have proven to be highly qualified, trustworthy, and strict in the implementation of its rules.
Across the past couple of years, specifically after 2015, the association's numbers were increasing; the number of depositors increased, and thus the number of loans granted also increased. This was also due to several reasons:
1. People gained more trust in the association: 30+ years had passed & no one's money was lost.
2. The collapse of many trade companies causing many to lose their money: As a result, people lost trust in such companies & resorted to QH which never treated anyone in this manner.
2. The collapse of many trade companies causing many to lose their money: As a result, people lost trust in such companies & resorted to QH which never treated anyone in this manner.
3. American sanctions against Hezbollah, its associations, & members: This led banks to call upon everyone related to Hezbollah to withdraw their money, although this was not required from them. Everyone who withdrew their money from those banks deposited it in Al-Qard Al-Hassan.
4. Due to the recent ongoing bank crisis in Lebanon, many people withdrew their money from banks. Returning this money puts them at risk of losing access to it. In order not to store this money at home, they deposited it in Al-Qard Al-Hassan and gave permission for it to be used.
In this way, those people ensure their money is stored safely while helping the people of their society and gaining reward (ajr) for their actions. This also helped the association gain the people’s trust and drastically increase its balance.
Many claimed that the services of this association are exclusive to a single sect or community. This is absolutely false. They can come see for themselves. Those services are offered to anyone residing in Lebanon from every sect, region, nationality, political orientation...
The Al-Qard Al-Hassan Association always stresses on its readiness to open branches in every area in Lebanon, but only under the condition of the willingness of those areas' people; it will not enforce itself on anyone for it has previously been prevented from taking this step.
The loans fall under the following categories: building or renovation of a house, tuition fees, [funding or establishing free] professions, medical treatment, varying expenses, marriage, paying off debts, buying home furniture, buying a car...
A new category has been added under the title of "agricultural loans" in collaboration with Jihad al-Bina in order to promote and support more agricultural projects. This is the nature of the loans.
The overall number of people who have benefitted from the services of this association since its establishment is 801000. This is not necessarily the number of individuals who have benefitted from it, but rather the number of loans granted; 801000 loans were granted.
The amount of money added up from those loans as they were being granted and returned is $3.775B. This is all from the money of the people who trusted this association and deposited their money in it, where it, in turn, granted them interest-free loans. 801000 loans.
There are currently over 300000 people dealing with and benefitting from the Al-Qard Al-Hassan Association. Those numbers will anger those who are bothered by this association more, but should hopefully satisfy the supporters.
Other organizations similar to Al-Qard Al-Hassan exist in Lebanon in other regions & for other sects. It is unfortunate that we have to speak in this manner. We did not establish a secret organization that was only recently exposed. Everything was transparently & publicly done.
There are reports issued by the Ministry of Social Affairs in Lebanon in 2001 for anyone who would like to see the evidence. The ministry even created a list of similar organizations in collaboration with the EU and UNIFEM.
Another important point to make is that this association does not fund Hezbollah. This is an excuse the U.S. uses. The association does even own any money for it to fund Hezbollah. This money is the people's money and it is forbidden for it to use it for any other cause.
This association also plays a huge role in aiding people during the difficult times we are witnessing. Hundreds of thousands are benefitting from this association today. It is supplying their needs, solving their problems, and keeping the economic cycle going.
By depositing your money in Al-Qard Al-Hassan instead of keeping it at home, you are allowing it to benefit a greater number of people from your country, contributing to the enhancement of the country's economy and overall production, and gaining reward from God.
This brings us to the recent claims that stated that the Al-Qard Al-Hassan Association inflicts harm on the Lebanese economy. I was shocked to hear this, but I grew curious to learn about how granting interest-free loans could harm the economy.
This association does not make any investments & "steal" opportunities. Those who benefit from its loans use them to open small shops, fund agricultural projects, seek medical treatment, pay off tuition fees, open clinics or offices...how could this possibly harm the economy?!
Those people have been blinded by their hatred & bigotry. If you want a similar association, go establish one! Who's stopping you? This is your problem, not ours. There are other organizations similar to it anyway. The difference lies in its persistence, efficiency, & hard work.
Others claimed that this association functions as a bank & should thus pay taxes. The association does not pay any interest fees to its depositors, charge any interest fees for granted loans, nor buy or sell any property or make profit. It is a non-profit org, not a bank.
It simply charges a small, fixed, monthly fee, independent of the amount of the loan (no percentages), to pay off employee salaries and other expenses. Otherwise, it does not aim for any profit and pays whatever taxes an association of its nature should pay.
If the association of Al-Qard Al-Hassan ever fell short in its expenses, we back it up, not the other way around. We support the association; it does not support us. Hezbollah supports, helps, and protects this association.
The association was sanctioned and a huge media campaign was launched against it. I have all the numbers, and I am certain of them. I know exactly which sides paid and the amounts that were paid to the Lebanese channels who launched this campaign.
There was also a recent wave about a security breach supposedly revealing the names and accounts of depositors. Regardless, we are investigating the issue. If it was the result of hacking, even the US Department of the Treasury was hacked. We will figure out what happened soon.
What was all this noise made for? To scare the depositors. They wanted people to start thinking that because their names are listed in Al-Qard Al-Hassan, then they are now seen as terrorists and America will go after them.
They considered that this would cause everyone to withdraw their money from the association, adding pressure on it and leading to its collapse. This association has enough financial stability, guarantees, and durability, and it will not collapse. You can do whatever you want.
Those who are afraid can leave. There is no problem at all. And those who choose to stay are most welcome to. I would like to invite myself and all our brothers & sisters from our communities to put their money in Al-Qard Al-Hassan in response to the American campaign against it.
We can do this rather than keeping the money at home. This way, we can support the association more and help it in granting more loans to the people of our country and support our society from all religions, sects, and political orientations, all while gaining reward ourselves.
A Lebanese politician mentioned his wish to be granted a loan from Al-Qard Al-Hassan. There is no problem. He can go apply and either mortgage gold or find a sponsor and he can be granted a loan too.
end of thread
It is necessary to note that a huge wave of the honorable people who trust and support the Resistance were quick to answer Sayyed's wish and rushed to the branches of Al-Qard Al-Hassan across Lebanon to deposit their money there.
