History and Values
THE FOUNDATION
The Saifee Foundation was established in India in 1959 by the 51st Dai al-Mutlaq, Syedna Taher Saifuddin RA. The Saifee Foundation Europe was then formed in London in 1964. Since then, it has given grants, scholarships, aid and more recently has become the focus of Qardan Hasana funding in the United Kingdom.
The Saifee Foundation of Europe was formed with charitable objectives for the aid both of members of the Dawoodi Bohra community and others. The funding and nurturing of new and existing businesses is a key objective of the Foundation.
BURHANI QARDAN HASANA SCHEME
Today this has been augmented by ‘The Burhani Qardan Hasana Scheme’ which provides interest free loans. On the auspicious occasion of the Shahadat of Amir-Al-Mumineen Moulana Ali Ibn Abi Talib in the year 1427H corresponding to the 11th day of October 2006, Syedna Mohammed BurhanuddinTUS established a Qardan Hasana Scheme by the name of “Burhani Qardan Hasana Scheme”.
QARDAN HASANA: AN ISLAMIC ECONOMIC SYSTEM
The Quran forbids Muslims to give, take or use interest. The injunction of the Quran reminds people that interest does not increase wealth, on the contrary, decreases it.
Syedna Mohammed BurhanuddinRA the 52nd incumbent in the august office of al-Dai al-Mutlaq guided Mumineen to practice their faith in accordance with the principles of Islam and the tenets of Dawat-e-Hadiyah, for 50 years. Emphasizing adherence to Islamic business ethics that include the prohibition of riba (interest) he encouraged his followers to promote the Quranic teaching of Qardan Hasana.
Syedna Aali Qadr Mufaddal Saifuddin TUS – Preserving the Fatemi Heritage
Today, Syedna Aali Qadr Mufaddal SaifuddinTUS the 53rd al-Dai al-Mutlaq, son and successor to his illustrious father, Syedna Mohammed BurhanuddinRA, is leading Mumineen into an era of dynamic vibrancy and renewed zeal.
By devoting his efforts to the preservation of Fatemi heritage in a number of ways he is ushering in a spiritual reawakening requiring his followers to adhere closely to the Quranic injunctions in their everyday lives.
He forbids Mumineen from interest and encourages them to benefit from Qardan Hasana. He has inculcated the importance of trade and business within Mumineen. To facilitate them the 53rd al-Dai al-Mutlaq is strengthening and expanding the Burhani Qardan Hasana Scheme under the auspices of The Saifee Foundation of Europe.
This institute serves as nuclei within the Dawoodi Bohra community of the United Kingdom, to propagate, foster and implement the concept of Qardan Hasana through easy accessibility of funds and to encourage the growth and development of business across the community.
QARDAN HASANA – A PLATFORM FOR SUSTAINABLE GROWTH
The Qardan Hasana is a platform to benefit and uplift individual members and households of Mumineen, be it through financial support, or through knowledge, technical knowhow, contacts and connections, so that the overall wisdom within the community multiplies and benefits generations to come.
Qardan Hasana may be provided for higher education in disciplines directed and approved by Dai al-Zamaan TUS. The largest proportion of funds will be made available for initiating entrepreneurship or for promoting an existing business, particularly for those progressing to self-employment as a replacement for employment. Qardan Hasana generously supports Mumineens’ need for adequate housing, with allocations available for new housing or for home improvement and refurbishment. Qardan Hasana may also be provided to meet personal needs.