UPDATE: 11 July 2015 – £162,000 still to be repaid before March 2016. DONATE NOW >>
JazakAllahuKhairan to all of our generous brothers and sisters who have helped to purchase our building. May Allah reward you with good in this world and your house in Jannah, ameen. Read more about how “We Did It” here >>
WE STILL NEED YOUR HELP!! We must repay those individuals who given Qard Hasanah loans, to ensure that we repay them by the dates agreed, to avoid humiliation on our Masjid and Community. You can see a schedule of the loans amounts and repayment dates on the poster below. DONATE NOW >>
Whilst our community and others were generous and helped us to raise a significant amount towards our £1.35mil target, we ultimately fell short of this substantially – we still needed £815,000 with just months left to meet our target!
So we turned to our community once again, but this time to ask for Qard Hasanah loans that would get us to our target. MashaAllah £265,000 was loaned to Croydon ICT for various periods of time.
The remaining £550,000 deficit required us to engage in a business arrangement, whereby a loan for the full amount (£550k) in return for a lease of our ground floor was agreed with a business – the Trustees of CICT were steadfast in negotiating a beneficial deal for the Masjid and our community, in terms of good value whilst ensuring our Islamic values were not compromised. This arrangement has given us till 2019 to raise the £550k, in which time we will not benefit directly from the rental income of the ground floor, which was an initial and integral part of our plan for long term self-sustainability. We are continuing to seek alternative methods to repay this major loan that we have been forced to take, and ask for your support with this also.