Designing a focal point model and implementing guidelines for Qarz-al-Hasan credit cards for Qarz-al-Hasan banks

The aim of this research is to design a center-focused model and executive guidelines for a qarḍ al-ḥasan (benevolent loan)-based credit card for qarḍ al-ḥasan banks within the framework of the interest-free banking system of the Islamic Republic of Iran. Although the basic concept of a qarḍ al-ḥasan credit card and some of its jurisprudential and operational aspects have been addressed in previous studies and banking regulations, the main problem of this research is formulating a mechanism through which the advantages arising from qarḍ al-ḥasan deposit acceptance can be aggregated, governed, allocated, and controlled in the form of social互助 (mutual aid) centers. Using an analytical-ijtihadi method and relying on the jurisprudential literature on reward-based deposit acceptance, particularly the views of Mousavian and Maysami, this research first examines the jurisprudential and legal nature of the reward/benefit (positive points), as well as the relationships between the bank, the center, the director, the cardholder, and the acceptor. Then, it proposes an executive guideline for implementing the qarḍ al-ḥasan credit card. The research findings indicate that by considering the benefit/positive points as a prioritization and limit-setting indicator, rather than an absolute right to demand facilities, and by prohibiting the free trading of points and controlling their allocation through the center, some of the jurisprudential ambiguities and economic risks of reward-based deposit acceptance can be mitigated. Furthermore, the proposed model, relying on credit scoring, individual and group guarantees, and center-based supervision, can contribute to a relative improvement in allocative justice, a reduction in spurious demand, and increased efficiency in the circulation of qarḍ al-ḥasan funds. The main novelty of this research lies in presenting a center-focused model, analyzing its legal relationships, and developing an independent executive guideline for the qarḍ al-ḥasan credit card.