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Imam Siraj, Business Loans, and Loans 24 – 30 Posted July 26, 2014 by Iana Financial

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In the Name of Allah, the Most Gracious, the Most Merciful

May the Peace and Blessings of our Generous Lord be upon you and your families during these blessed hours.

It has been a while since our last post, and it will likely be a while before our next one, there are a few changes underway and we ask for your prayers that He guide us to what He loves and is pleased with.

As you read and are inspired by the great news below, donate now to help propel Iana to the next level of service to our community…

Loan Update

Alhamdillah, in the past few months a number of borrowers have paid back their loans, donations continued to trickle in, and the right applicants were sent our way; as such Allah enabled us to issue a few new loans – actually, so far in 2014  we are about reach $56,000 in loans issued, that’s basically one third of all Iana loans issued to-date in just a few months, mashaAllah, and we are praying to double that by the end of this year.  See the summaries below for loans 24 – 30 and pray that Allah the Glorious guide each borrower on their respective paths, and help them serve their families and our community.

Loan 24:  Cincinnati, OH, $1,200, Masters in Social Work.

Loan 25:  Calgary, AB, $1,100, Business Degree, University of Calgary.

Loan 26:  Missassauga, ON, $11,000, Pharmacy Licensing.

Loan 27: Winnipeg, MN, $2,500, Iana Independence: Business Loan.

Loan 28: Calgary, AB, $7,600, Medical Laboratory Technologist, SAIT.

Loan 29: California, $15,000, Iana Independence: Business Loan.

Loan 30*: Edmonton, AB, $18,000, Law, University of Toronto.

 

Total Loans Issued*: 30 – $159,581

Total Loans Repaid: 18 – $74,981

Total Loans Outstanding: 12 – $75,610

 

*Loan 30 is to be issued in August, 2014, inshaAllah.

 

NEW!  Interest-free Business Loans: IANA INDEPENDENCE

Allah loves the servant that is independent and self-sufficient, and our faith has a strong tradition of encouraging business and trade with competition and fair rules for all.  One of the features of the modern business world is that it is increasingly dominated by a smaller number of large corporations leaving no room for small businesses, family-owned businesses, or local businesses – all of these are not as “efficient” as large, multi-natinal, conglomerates that can basically establish global monopolies by virtue of their size, buying power, and political influence.  As such, a third branch of loans, interest-free business loans, is now being developed: Iana Independence.   InshaAllah Iana Independence can help our community revive this basic human need for independence and self-sufficiency, stronger families and communities, and broad societal checks and balances.

To apply for a business loan, answer the relevant questions from the preliminary questions as well as:
-Financial statements for the past 3 years
-Business plan or forecast for the next 2 years
-Bank statement and letter from your bank

 

Iana Communication Strategy: Website and Mailing List…

Our communication strategy going forward is about to change.

a. Say good-bye to the blog.  For progress-updates, you can expect to find annual reports on our website that will inshaAllah be more thorough and detailed with analysis.

b. Mailing List: the email list will be shortened down to include borrowers, volunteers, financial supporters of Iana, or other people who are genuinely interested in grassroots economic reform and shaping this initiative.  To be a part of the conversation, you can apply to join our e-mail list.  To join Iana’s email list, email us at: support-iana@ianafinancial.org and tell us why you’d like to join.

c. We are inviting all those interested in making lasting change to the modern economic system by the pen to volunteer to write for Iana.  You can do a book review like the one above, your own reflections on the economic system with reference to news, or poetry.  If you would like to contribute, contact us at support-iana@ianafinancial.org.

Imam Siraj: why do YOU support Iana?


“We live in a society with interest…prevalent in everything that we do. People will gladly give you a loan, if they could get some interest, but here is an organization that has no interest, literally, no interest, and no interest in charging interest. And it’s a fantastic idea. I love them. I love the concept and may Allah Subhanu wa Ta’ala bless them. I want you to support them in any way that you can. You can not imagine the number of people who benefit. [I]t’s a very novel idea, it’s a great idea, I support them one hundred percent, and may Allah…make them successful, and please, please, please, help them in anyway you can.” – Imam Siraj Wahhaj

http://masjidat-taqwa.com

http://sirajwahhaj.com

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