The Saifee Foundation of Europe

The Saifee Foundation of Europe is a charity registered with the Charity Commission for England and Wales (charity number 241048).

The Saifee Foundation of Europe is a charity registered with the Charity Commission for England and Wales, formed with charitable objectives for the aid both of members of the Dawoodi Bohra community and others. Funding and nurturing new and existing businesses is a key objective, and it directs the largest proportion of its Qardan Hasana funds towards starting or promoting businesses. Today it runs The Burhani Qardan Hasana Scheme, which provides interest-free loans, and its annual report shows £101,500 awarded.

Priority Areas

The foundation pursues its charitable objects through donations and Qardan Hasana, an interest-free loan scheme. The scheme is available to other connected charities, businesses, community members and the public at large. Its website presents Qardan Hasana as support for individual members and households of Mumineen, alongside education and training, business development, adequate housing and personal financing. It directs the largest proportion of Qardan Hasana funds towards starting or promoting businesses, particularly where people are moving into self-employment. Its approach also includes knowledge, technical know-how, contacts and connections, with the aim of strengthening the community and benefiting future generations. The foundation also makes donations from unrestricted funds.

Themes

• Education and training
• Business development
• Housing
• Personal financing

Geographic Focus

England; Wales.

Applicants for Qardan Hasana first log in through ITS52.com.

Application windows:

• Student Qardan Hasana: Applications for students starting in September open from the preceding March.

Who can apply:

• Student Qardan Hasana: UK Residents either British Nationals or those with indefinite leave to enter or remain (settled status) are eligible to apply for Student Qardan Hasana under this scheme.
• Housing Qardan Hasana: If you are not a British national or do not hold Indefinite Leave to Remain (ILR), you must provide proof of your UK residential status and a valid e-Visa. The tenure of the Qardan Hasana must align with your visa validity and must not exceed its duration.

What to send:

• Education Qardan Hasana, Business Qardan Hasana, Housing Qardan Hasana
  • 3 months bank statements
  • 3 months payslips
  • If self-employed; previous year’s trading accounts and SA302 tax returns
  • 6 months bank statements
  • 6 months payslips
  • If self-employed; previous two years’ trading accounts and SA302 tax returns
  • 12 months bank statements
  • 12 months payslips
  • If self-employed; previous three years’ trading accounts and SA302 tax returns
  • Accountant’s statement regarding current year
  • Safai Chitti obtained specifically for the purpose of Qardan Hasana
• Education Qardan Hasana: Two sponsors are required for your application. Sponsors must be members of the Dawoodi Bohra community in the UK and known to the Foundation.
• Education Qardan Hasana, Business Qardan Hasana, Housing Qardan Hasana
  • Jewellery worth at least one-third of the value of the requested Qardan Hasana is required as rehn.
  • A brief covering letter summarising the application, including the purpose, amount requested, and repayment plan, demonstrating ability to meet repayments responsibly.
• Education Qardan Hasana, Business Qardan Hasana: Supporting evidence related to the purpose for which you are applying for Qardan Hasana.
• Education Qardan Hasana
  • University/College offer letter, certificate of enrolment and the course fees.
  • A Raza Mubarak letter
  • Budget, including course fees, accommodation costs if applicable, and confirmation that you will not apply for an interest-bearing student loan.
• Business Qardan Hasana
  • Two guarantors for non-regulated business applications above £25,000; they must be members of the Dawoodi Bohra community in the UK and known to the Foundation.
  • Two sponsors for regulated business applications below £25,000; they must be members of the Dawoodi Bohra community in the UK and known to the Foundation.
  • A structured business plan, including the business history and background, products and services, market position, management and operational framework, and how the requested Qardan Hasana will support growth and stability.
  • A feasibility study for a new project or expansion, covering purpose and scope, projected costs, anticipated revenues, profitability, risks and mitigation strategies, commercial viability, expected returns and long-term sustainability.
  • A detailed month-by-month cash flow projection covering the full duration of the Qardan Hasana, evidencing sufficient income for repayments and indicating assumptions, repayment schedules and projected balances.
• Housing Qardan Hasana
  • Two sponsors who are members of the Dawoodi Bohra community in the UK and known to the Foundation.
  • Proof of UK residential status and a valid e-Visa, if not a British national or not holding Indefinite Leave to Remain (ILR).

What the charity says:

• The foundation directs the largest proportion of Qardan Hasana funds to starting or developing businesses, particularly for those moving into self-employment.
• Business applicants should show how the requested Qardan Hasana will support growth, strengthen operations and contribute to stability and expansion.
• The business cash-flow forecast must evidence that income will comfortably meet Qardan repayments.