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Article (28) The Goodwill Loan (Qardh Hasan)

  1. In case the participant account assets are insufficient to meet the account liabilities, the company shall provide a goodwill loan (non-interest-bearing loan) to the participants' account.
     
  2. The obligation to grant the goodwill loan shall be comprehensive subject to a maximum equal to the total of the company’s shareholders equity.
     
  3. The company shall have the right to recover this loan from the surplus(s) realized in subsequent periods whether in one payment or several installments as decided by the company's general assembly.
     
  4. In case the company does not provide a goodwill loan to meet a loss realized in the participants' account(s), the company shall be notified by the Director General to do so within fifteen days from the date of notification. If the company fails to do so, the matter shall be referred to the Authority’s board of directors to take a decision to suspend the company for the period the board deems appropriate.