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Chit Agreement Details:

Agreement for 1 Lakh Qura Chit
1. The Qura chit will be run for 25 months on NO LOSS-NO GAIN basis by Al Meezan.
2. The monthly installment for this chit will be Rs. 4,000/-. (4,000 *25 =1,00,000)

3. The Qura chit consists of not more than 35 subscribers, to overcome the problem of any late payment or defaulters and to issue the actual mentioned amount (2 LAC) in time to the prize subscribers. Any how the excess members remains, if any, will be paid their amount in the last month.
4. A chit member must be an Account Holder of Al Meezan.
5. The monthly installment should be deposited at the concerned personnel of Al Meezan on or before 14th day of every month by 9.30 PM. Otherwise his/her number will not be included in the draw dip of that particular month.
6. The installment amount will be received in cash by the concerned personnel of Al Meezan. And all the subscribers will get the payment’s acknowledgement through SMS.
7. The draw will be conducted on 15th day of every month at Sharp Printers, New Town, Mahbubnagar, at 9.00 pm in presence of the present subscribers at that time. (Any change in draw date or time will be informed to the subscribers through SMS. Al Meezan will not be responsible for poor phone network). And the prize winner’s details will be informed through concerned Al Meezan link https://www.t47h4o5m4n.com/

8. A Subscriber is treated as defaulter in a particular chit , if less than 60% of the installments is paid and if a subscriber is a defaulter, then his/her deposited amount, neither be merged in other chit and nor be given before the last month (25th). And one installment value amount (Rs.4,000/- ) will be deducted from the deposited amount.
9. A prize subscriber (whose name comes in the draw) can collect the amount at once on the next day of submission of the required ID and security documentation process. And one should complete this process within ten days from the draw date, otherwise Al Meezan holds the right to transfer the amount to any needy member or Al Meezan can itself keep that amount.
10 The security process can be Mortgage of property (proper value) or 2 Blank cheques of two different persons or surety of two Govt. employees or as the trust demands.
11. Payment after 20thth day of particular month will be treated as late payment for the prize subscribers, and monthly Rs.250/- will be commuted as the penalty amount, and should be paid along with the monthly installment, in other case the trust holds the right to treat the monthly installment amount as the penalty amount (to be paid) even from the other chits running under same Account Number.
12. If the prize subscriber does not pay the installment for two consecutive months, the total remaining amount should be paid by the person responsible for payments or security.
13. A person/persons who stands security for the amount of any subscriber will have to pay the amount to the Trust, if the actual subscribers fail to pay the amount by any reason.
14. If the subscriber who gets his/her number in the draw dip wants to withdraw in favor of other subscriber, then the other subscriber will be treated as the prize winner for that month.
15. The subscriber responsible for payment and receipts should be major, preferably male and native of M. Nagar Dist.
16. Al Meezan holds all the rights on any usage of surplus and excess amount.
17. Al Meezan holds the right to reject any application/member/ Account at any stage.
18. A non refundable amount of Rs.1, 250/- will be received from all the subscribers at the time of registration, as Maintenance and Registration fee.
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I Have read and understood / understood the above rules and conditions of Al Meezan, and agreed with the Al Meezan’s chit process, and willing to join qura this chit.
Chit Agreement Details:

Agreement for 2 Lakh Qura Chit
1. The Qura chit will be run for 25 months on NO LOSS-NO GAIN basis by Al Meezan.
2. 2. The monthly installment for the chit is Rs. 8,000, totaling Rs. 2,00,000 over the 25 months.

3. The chit will have a maximum of 35 subscribers to ensure timely payment of the Rs. 2 LAC to prize winners and manage late payments or defaults. Any remaining subscribers, if any, will receive their amount in the last month.

4. All subscribers must be account holders of Al Meezan. New members will pay a non-refundable Account registration fee of Rs. 2000.

5. A one-time non-refundable fee of Rs. 1250 will be collected from each account holder as chit registration.

6. Monthly installments must be paid to the concerned personnel of Al Meezan by the 14th of each month, before 9:30 PM. Failure to do so will result in exclusion from that month’s draw.
7. Installments are to be paid in cash, and a payment receipt must be collected by the subscriber.
8. The draw will take place on the 15th of each month at Sharp Printers, New Town, Mahbubnagar at 9:00 PM, in the presence of available subscribers. Any changes to the draw will be communicated via message. Al Meezan is not responsible for network issues, and prize winners will be notified via message or on the official Al Meezan link.

9. A subscriber will be considered a defaulter if less than 60% of their installments are paid. In this case, the deposited amount will neither be transferred to another chit nor refunded before the 25th month, and Rs. 10,000 will be deducted.
10. A prize winner must collect the amount on the day following submission of the required ID and security documents. The process must be completed within 10 days of the draw; otherwise, Al Meezan reserves the right to allocate the amount to another member or retain it.
11. Security can be provided through a mortgage, two blank cheques from different persons, surety from two government employees, or as deemed necessary by Al Meezan.
12. Late payments (after the 20th of the month) will incur a Rs. 200 penalty, payable with the next installment. Al Meezan may deduct penalties from other running chits under the same account.
13. If a prize subscriber misses two consecutive payments, the entire remaining amount becomes due, and the security provider must pay the balance.
14. Security providers must pay the outstanding amount if the subscriber fails to do so.
15. If a prize winner opts to transfer their prize to another subscriber, the other subscriber will be treated as the prize winner.
16. The responsible subscriber must be a legal adult, preferably male, and a resident of Mahbubnagar District.
17. Al Meezan retains the right to use any surplus or excess amounts as deemed necessary.
18. Al Meezan reserves the right to reject any application, member, or account at any stage.
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I Have read and understood / understood the above rules and conditions of Al Meezan, and agreed with the Al Meezan’s chit process, and willing to join qura this chit.
Chit Agreement Details:
Chit Agreement Details:
Chit Agreement Details:

Agreement for 5 Lakh Qura Chit
1. The Qura chit will be run for 35 months on NO LOSS-NO GAIN basis by Al Meezan.
2. The monthly installment for this chit will be Rs. 15,000/-. (15,000 *35 =5,25,000)

3. The Qura chit consists of not more than 35 subscribers, to overcome the problem of any late payment or defaulters and to issue the actual mentioned amount (5 LAC) in time to the prize subscribers. Any how the excess members remains, if any, will be paid their amount in the last month.
4. A chit member must be an Account Holder of Al Meezan.
5. The monthly installment should be deposited at the concerned personnel of Al Meezan on or before 14th day of every month by 9.30 PM. Otherwise his/her number will not be included in the draw dip of that particular month.
6. The installment amount will be received in cash by the concerned personnel of Al Meezan. And all the subscribers must get the payment’s acknowledgement receipt. And an e-receipt may be sent through SMS.
7. The draw will be conducted on 15th day of every month at Sharp Printers, New Town, Mahbubnagar, at 9.00 pm in presence of the present subscribers at that time. (Any change in draw date or time will be informed to the subscribers through message . Al Meezan will not be responsible for poor phone network. And the prize winner’s details will be informed through message or concerned Al Meezan link https://www.t47h4o5m4n.com

8. . A Subscriber is treated as defaulter in a particular chit , if less than 60% of the installments is paid and if a subscriber is a defaulter, then his/her deposited amount, neither be merged in other chit and nor be given before the last month (25th). And one installment value amount (Rs.20,000/- ) will be deducted from the deposited amount.
9. . A prize subscriber (whose name comes in the draw) can collect the amount at once on the next day of submission of the required ID and security documentation process. And one should complete this process within ten days from the draw date, otherwise Al Meezan holds the right to transfer the amount to any needy member or Al Meezan can itself keep that amount.
10 The security process can be Mortgage of property (proper value) or 2 Blank cheques of two different persons or surety of two Govt. employees or as the trust demands.
11. . Payment after 20th day of particular month will be treated as late payment for the prize subscribers, and monthly Rs.500/- will be commuted as the penalty amount, and should be paid along with the monthly installment, in other case the trust holds the right to treat the monthly installment amount as the penalty amount (to be paid) even from the other chits running under same Account Number.
12. If the prize subscriber does not pay the installment for two consecutive months, the total remaining amount should be paid by the person responsible for payments or security.
13. A person/persons who stands security for the amount of any subscriber will have to pay the amount to the Trust, if the actual subscribers fail to pay the amount by any reason.
14. . If the subscriber who gets his/her number in the draw dip wants to withdraw in favor of other subscriber, then the other subscriber will be treated as the prize winner for that month.
15. The subscriber responsible for payment and receipts should be major, preferably male and native of M. Nagar Dist.
16. Al Meezan holds all the rights on any usage of surplus and excess amount.
17. Al Meezan holds the right to reject any application/member/ Account at any stage.
18. A non refundable amount of Rs.1,750/- will be received from all the subscribers at the time of registration, as Maintenance and Registration fee.
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I Have read and understood / understood the above rules and conditions of Al Meezan, and agreed with the Al Meezan’s chit process, and willing to join qura this chit.
Chit Agreement Details:
Chit Agreement Details:

Agreement for 7 Lakh Qura Chit
1. The Qura chit will be run for 35 months on NO LOSS-NO GAIN basis by Al Meezan.
2. The monthly installment for this chit will be Rs. 20,000/-. (20,000 *35 =7,00,000)

3. The Qura chit consists of not more than 50 subscribers, to overcome the problem of any late payment or defaulters and to issue the actual mentioned amount (7 LAKH) in time to the prize subscribers. Any how the excess members remains, if any, will be paid their amount in the last month..
4. A chit member must be an Account Holder of Al Meezan.
5. The monthly installment should be deposited at the concerned personnel of Al Meezan on or before 14th day of every month by 9.00 PM. Otherwise his/her number will not be included in the draw dip of that particular month.
6. The installment amount will be received in cash by the concerned personnel of Al Meezan. And all the subscribers must get the payment’s acknowledgement receipt. And an e-receipt may be sent through SMS.
7. . The draw will be conducted on 15th day of every month at Sharp Printers, New Town, Mahbubnagar, at 9.00 pm in presence of the present subscribers at that time. (Any change in draw date or time will be informed to the subscribers through message . Al Meezan will not be responsible for poor phone network. And the prize winner’s details will be informed through message or concerned Al Meezan link https://www.t47h4o5m4n.com

8.A Subscriber is treated as defaulter in a particular chit , if less than 60% of the installments is paid and if a subscriber is a defaulter, then his/her deposited amount, neither be merged in other chit and nor be given before the last month (35th). And one installment value amount (Rs.20,000/- ) will be deducted from the deposited amount.
9. . A prize subscriber (whose name comes in the draw) can collect the amount at once on the next day of submission of the required ID and security documentation process. And one should complete this process within ten days from the draw date, otherwise Al Meezan holds the right to transfer the amount to any needy member or Al Meezan can itself keep that amount.
10 The security process can be Mortgage of property (proper value) or 2 Blank cheques of two different persons or surety of two Govt. employees or as the trust demands.
11. Payment after 20th day of particular month will be treated as late payment for the prize subscribers, and monthly Rs.700/- will be commuted as the penalty amount, and should be paid along with the monthly installment, in other case the trust holds the right to treat the monthly installment amount as the penalty amount (to be paid) even from the other chits running under same Account Number.
12.If the prize subscriber does not pay the installment for two consecutive months, the total remaining amount should be paid by the person responsible for payments or security.
13. . A person/persons who stands security for the amount of any subscriber will have to pay the amount to the Trust, if the actual subscribers fail to pay the amount by any reason.
14.If the subscriber who gets his/her number in the draw dip wants to withdraw in favor of other subscriber, then the other subscriber will be treated as the prize winner for that month.
15. The subscriber responsible for payment and receipts should be major, preferably male and native of M. Nagar Dist.
16. Al Meezan holds all the rights on any usage of surplus and excess amount.
17.Al Meezan holds the right to reject any application/member/ Account at any stage.
18. . A non refundable amount of Rs.1, 750/- will be received from all the subscribers at the time of registration, as Maintenance and Registration fee.
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I Have read and understood / understood the above rules and conditions of Al Meezan, and agreed with the Al Meezan’s chit process, and willing to join qura this chit.
Chit Agreement Details:

Agreement for 2.5 Lakh Qura Chit
1. The Qura Chit will run for 25 months on a No Loss-No Gain basis.
2. The monthly installment for the chit is Rs. 10,000, totaling Rs. 2,50,000 over the 25 months.

3. The chit will have a maximum of 35 subscribers to ensure timely payment of the Rs. 2.5 LAC to prize winners and manage late payments or defaults. Any remaining subscribers, if any, will receive their amount in the last month.

4. All subscribers must be account holders of Al Meezan. New members will pay a non-refundable Account registration fee of Rs. 2000.

5. A one-time non-refundable fee of Rs. 1250 will be collected from each account holder as chit registration.
6. Monthly installments must be paid to the concerned personnel of Al Meezan by the 14th of each month, before 9:30 PM. Failure to do so will result in exclusion from that month’s draw.
7. Installments are to be paid in cash, and a payment receipt must be collected by the subscriber.
8. The draw will take place on the 15th of each month at Sharp Printers, New Town, Mahbubnagar at 9:00 PM, in the presence of available subscribers. Any changes to the draw will be communicated via message. Al Meezan is not responsible for network issues, and prize winners will be notified via message or on the official Al Meezan link.

9. A subscriber will be considered a defaulter if less than 60% of their installments are paid. In this case, the deposited amount will neither be transferred to another chit nor refunded before the 25th month, and Rs. 10,000 will be deducted.
10. A prize winner must collect the amount on the day following submission of the required ID and security documents. The process must be completed within 10 days of the draw; otherwise, Al Meezan reserves the right to allocate the amount to another member or retain it.
11. Security can be provided through a mortgage, two blank cheques from different persons, surety from two government employees, or as deemed necessary by Al Meezan.
12. Late payments (after the 20th of the month) will incur a Rs. 250 penalty, payable with the next installment. Al Meezan may deduct penalties from other running chits under the same account.
13. If a prize subscriber misses two consecutive payments, the entire remaining amount becomes due, and the security provider must pay the balance.
14. Security providers must pay the outstanding amount if the subscriber fails to do so.
15. If a prize winner opts to transfer their prize to another subscriber, the other subscriber will be treated as the prize winner.
16. The responsible subscriber must be a legal adult, preferably male, and a resident of Mahbubnagar District.
17. Al Meezan retains the right to use any surplus or excess amounts as deemed necessary.
18. Al Meezan reserves the right to reject any application, member, or account at any stage.
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I Have read and understood / understood the above rules and conditions of Al Meezan, and agreed with the Al Meezan’s chit process, and willing to join qura this chit.