In the name of Allah the Most Beneficent, the Most Merciful

Assalam o Alykum

Brothers and Sisters,

The Interim Board of Directors of the Islamic Education Foundation (IEFK) is completely dedicated and focused on resolving this loan issue for the building of Annoor Academy of Knoxville (AAK). Since the very beginning, this board has been putting forth every effort to resolve it. The Interim IEFK board also recognizes the infinite support, dedication, and trust of our community towards the school. People outside of the Knoxville area often marvel this achievement of the Muslim Community of Knoxville. We have even seen entire families relocating in our community because of our Islamic school. Alhamdulillah Rabil Alameen.

As you may know, the loan amount has been reduced to less then a million ($984K) thanks to your support in our annual fundraising dinner for AAK last February 2010. $150 K has been collected so far and we are still looking forward for the $200K in pledges.

At this juncture, the IEFK board has the ambitious plan that the Qard Hasan scheme will make it possible to pay off the loan by the end of this year. As we have mentioned before, if 200 families agree to lend (goodly loan-Qard Hasan) $5000 each, this loan can be paid very quickly. But what we are suggesting are 200 families paying $1000/month for the next 5 month and this loan can be paid off. If $1000 is too much we can even lower it to $500.00 to $250.00 per month for next 10 months. This is a loan that will allow IEFK to get out of the bondage of the riba system and this will release IEFK from this burden.

IEFK will pay back this loan starting January 2013 and a promissory note with legal backing will be provided for the return of the money InshaAllah. If each one of us takes this appeal to 5 family members or friends outside of Knoxville this will bring enough money and we will be able to return the money sooner.

In summation:

200 families $ 5000/- one time in next 2 months

or

200 families $ 1000/- per month for 5 months

or

200 families 500/- per month for 10 months.

or

400 families 250/- per month for 10 months

Loan is resolved!!

IEFK board is appealing to every single member of our community to fill out a simple statement committing to this plan. InshaAllah success will be ours in this world and in here after. Ameen.

IEFK Interim Board 05/20/2010