QMB at a glance
Having extended entirely on goodwill basis, with a benevolent concept of the role, The Qarz Al-Hasaneh Mehr Iran Bank, abbreviated as QMB, is Iran's first highly specialized full-fledged Islamic bank specifically engaged in providing a micro-loan called “Gharz Al-Hasanah” “Qard al-Hasan” or “Qard Hasan” (translates literally into an interest-free ‘good loan’) which is absolutely interest-free. The loan is essentially granted to the legal and individual entities in dire need for either welfare purposes or for fulfilling short-term funding requirements.
Latest News
Dr. Morteza Akbari, the CEO of The Qarz Al-Hasaneh Mehr Iran Bank (QMB) and Mr. Morteza Bakhtiari head of Imam Khomeini Relief Foundation (IKRF) have recently signed a memorandum of understanding to explore cooperation in empowering the disadvantaged pivoting around employment and strategies to encourage the consolidation and attraction of Gharz Al-Hasanah resources.
According to the latest ranking of the top 2018 Islamic financial institutions in the world published by The Banker; the globally-recognized source of financial intelligence, The Qarz Al-Hasaneh Mehr Iran Bank (QMB) topped the list of world Islamic financial institutions in the year 2018!
Dr. Morteza Akbari’s tireless philanthropic efforts saw him being honoured with the prestigious Jewels of Muslim World Award 2019. He was conferred the honour in recognition of his salient achievements as one of the Top Movers of the Islamic Economies whose achievements have been acknowledged by everyone.
"Following the MoU signed with the Housing Foundation, some 22,000 rural dwellings will be rehabilitated through contributing a sum of 1200 Billion in Loans," Dr. Morteza Akbari, the chief executive of the bank was quoted (by the Islamic Republic News Agency) as saying. “We wish to bring light to the lives of deprived village dwellers with our loans as plans aimed at job creation and eradicating deprivation in the country's rural areas have been placed very high on QMB’s agenda,” he cited.
QMB signed a cooperation agreement with Allameh Tabataba'i University (ATU) to assist students with poor means by disbursement of 10 billion RLs interest-free student loans plus 1 billion RLs student grants being paid only to the students who can show a genuine need for financial help.
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