Karz-ı Hasen Cooperation Protocol was signed between MUSIAD and Vakıf Katılım. Within the scope of the protocol, Karz-ı Hasen financing support will be provided to the needy business people in the earthquake region without interest and commission.

Independent Industrialists' and Businessmen's Association (MUSIAD) and Vakıf Katılım continue their work for the disaster-affected regions. In this context, the Karz-ı Hasen Cooperation Protocol Signature Program was organized by MUSIAD President Mahmut Asmalı, Vakıf Katılım Chairman of the Board Öztürk Oran, Foundation Participation General Manager Osman Çelik, MUSIAD Karz-ı Hasen Fund Chairman Muhammet Ali Özeken and MUSIAD Board Members. held at MUSIAD Headquarters with the participation of Within the scope of the cooperation protocol signed between the parties, it was reported that Karz-ı Hasen financing support without interest and commission will be provided for MUSIAD members whose workplaces and commercial processes have been damaged in the earthquake region.

With the protocol, financial support for disaster victims business people will expand

Speaking at the program, MUSIAD Chairman Mahmut Asmalı reminded that MUSIAD's work on the disaster area has continued uninterrupted since the first day and emphasized that the agreement with Vakıf Katılım will expand the financial support provided to business people in the region.

President Asmalı made the following statements in his statement:

"In addition to our comprehensive works for our citizens affected by the earthquake in the disaster area, we provide capital support to our members in the region with the MUSIAD Karz-ı Hasen Fund to revive the business and commercial life in the region. In addition, we transfer the dues received from our members to this fund with the understanding of Karz-ı Hasen, and in such disasters and We offer our own resources to the use of our members who are affected and damaged by the disaster, without commission or as a grant, in case of need. On this occasion, we invited our business world to support and expand the practice and understanding of Karz-ı Hasen, which comes from our ancient traditions and culture of cooperation. We are expanding our work at -ı Hasen. The day is a day of being together. We will heal our wounds together, we will stand up together. We thank Vakıf Katılım for their support to this exemplary application, and hope that the application in question will set an example for other NGOs and Participation Banks and become widespread. We hope."

MUSIAD and Vakıf Katılım will expand the Karz-ı Hasen application

In his statement after the program, Vakıf Katılım Chairman of the Board of Directors Öztürk Oran stated that they will further expand the Karz-ı Hasen practice with the cooperation of MUSIAD and Vakıf Katılım.
Chairman Oran continued his assessment as follows:

“The Presidents and managers of MUSIAD, who brought the Karz-ı Hasen Fund application to the agenda years ago, brought this application into practice seven years ago and brought it to a strong structure. We, as Vakıf Participation, have expanded the scope of the fund in order to further expand this understanding, which is the basis of participation finance and which MUSIAD put into practice, and to make it accessible to those in need. We hope that the cooperation will be beneficial for both sides.”

Members affected by the earthquake will be given priority

Foundation Participation General Manager Osman Çelik, who made evaluations in the program, emphasized that in cooperation, priority will be given to the members damaged by the earthquake.

Çelik made the following statements in his statement:

“By adopting the understanding of foundation civilization and foundation culture; We give priority to projects aimed at protecting foundations, one of the foundations of social balance, and increasing their income. We evaluate the implementation of Karz-ı Hasen, which is an ancient Anatolian tradition, in this context. We are very happy to cooperate with MUSIAD for the Karz-ı Hasen project. In addition to maintaining a deep-rooted tradition, we aim to provide Karz-ı Hasen to MUSIAD Fund Members who need short-term resources. I would also like to state that priority will be given to the members who were damaged by the earthquake in the first stage of the project. This financing model, which we will make available without interest and commission, is actually a social responsibility project for Vakıf Katılım. It is a favor shown to us that MUSIAD cooperated with a financial institution for the first time in this context and preferred Vakıf Katılım for this purpose. May our cooperation be beneficial.”

The cooperation will contribute to the effective use of the Karz-ı Hasen fund.

MÜSİAD Karz-ı Hasen Fund Chairman Muhammet Ali Özeken, who made evaluations about the protocol, stated that the understanding of Karz-ı Hasen is one of the basic elements of civilization and said, "With the cooperation we have made with Foundation Participation and signed today, we will be able to use our fund more effectively and meet the needs of more of our members." said.

Özeken continued his words as follows:

"Karz-ı Hasen is one of the basic elements of our civilization. Our Lord advises him to be given good loans in six different verses in the Qur'an. Of course, our Lord needs money here. There is no help, but it states the necessity of helping people in need. Again, in a hadith, it is emphasized that Karz-ı Hasen, that is, the beautiful loan application, is much more virtuous than charity. MUSIAD launched the Karz-ı Hasen institution seven years ago. In the modern world, people do not even lend each other money without expecting any benefit; Our MUSIAD Karz-ı Hasen Fund offers a long-term loan without any interest, interest-free interest, for our members who are in trouble. We have reached a significant fund size in seven years so far, and we have provided support to more than 150 members in need with the contribution of more than 1600 members. The earthquake disaster we have experienced recently has pushed us to work on this ballot box again. That's why, thanks to the cooperation we signed with Vakıf Katılım, we will be able to use our fund more effectively and meet the needs of more of our members."