MOU between SZIC and Ihsan Trust

Ihsan Trust (IT) in its continued approach of fulfilling its prime objective of providing financial assistance in the form of Qarz e Hasna (interest free loan) to students pursuing higher studies in Pakistan added another feather in its cap when it signed Memorandum of Understanding (MOU) with Sheikh Zayed Islamic Centre (SZIC) affiliated with University of Karachi to provide Financial assistance in the form of Qarz e Hasna (interest free loan) to the students of SZIC who need financial assistance.The MoU signing ceremony between IT and SZIC took place in Sheikh Zayed Islamic Centre on May 13, 2014 and Mr. Fayyaz ur Rehman Khan represented Ihsan Trust and Prof. Dr. Noor Ahmed Shahtaz – Director Sheikh Zayed Islamic Centre signed on behalf of SZIC. On this occasion, Mr. Fayyaz ur Rehman also give a detailed presentation about Ihsan Trust to the students, faculty and Management of SZIC. This joining of hands between IT and SZIC will surely open the room for the needy students of SZIC who wants to pursue higher education and it will go along way in solving the problems being faced by our beloved country Pakistan.

Ihsan Trust (IT) is a Trust created under the Trust Act 1882 and its aim and objective is to help people in need. One of the major aims of IT is to provide Qarz-e-Hasna (Interest-free loan) facilities for higher education to needy and deserving students of almost all the leading universities in Pakistan. Through this scheme, IT bears the educational expenses of the students by providing them Interest fee Loans on a purely “Need cum Merit” basis to enable them to complete their Higher Education. During the study period, the selected student has to make a nominal, token repayment amount on a monthly, regular basis (depending upon the financial position of the candidates, his/her parents/guardians’ monthly income) to Ihsan Trust, and the monthly repayment amount is always mutually agreed between IT and the student. After completion of the respective degree program, the repayment amount for the Qarz-e-Hasna is to be adjusted according to the income of the beneficiary. Still, it is also and always mutually agreed.