I am in finance world so I understand your point...but then this scheme should be named some thing else and not kardan hasanah, because according to Quraan nothing like collateral is prescribed, Qardan is more as a help to fellow brother and that too without any pressure...Well, it is impractical to give loans without collateral/security as money matters are such that people (if not all) somehow lose their integrity, especially if it is an unregulated (not under any law of the land) system. And especially when it is within the dawat, an institution notorious for unaccountability and corruption. If qardan is given away without collateral, it will be open to more corruption & defaults as then influential people will be able to take away loans on easy terms. Not that this might not be happening already. I understand, how needy and poor will be able to get collateral/security. But I cannot think of any system to resolve this!
if small scale businessman and vendors had gold and money they would not even apply for kardan for humiliation.
bohra posts this ayat on their website but dont really follow it.
http://www.burhaniqardan.org/qardan-has ... quran.html