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    Friday, May 19, 2017

    Akhuwat Foundation has given Qard-e-Hasna of Rs.40 billion among 2 million people

    MULTAN:Akhuwat Foundation Founder Dr Amjad Saqib has said that "Qarz-i-Hasna" of Rs.40 billion was advanced to needy people since its inception with a recovery rate of 99.85 per cent.He said that we are going to establish an University where students would get free higher education and philanthropists should come foward to make this mission a success. Delivering his speech at a meeting of Multan Chamber  of Commerce & Industry (MCCI) chaired by Khawaja Jalaluddin Roomi,  Dr Amjad Saqib  said that as per the scheme, the Foundation disburses the micro loans to the poorest family of the province with maximum loan size of Rs50,000 with zero mark-up, which can be returned on easy monthly repayment plan. Our mission is to alleviate poverty by empowering socially and economically marginalized families through interest free microfinance and by harnessing entrepreneurial potential, capacity building and social guidance. Our objectives are to provide interest free micro-finance services to poor families enabling them to become self reliant, to promote qard-e-hasana as a viable model and a broad-based solution for poverty alleviation, provide social guidance, capacity building and entrepreneurial training, institutionalize the spirit of brotherhood, compassion, and volunteerism, transform Akhuwat borrowers into donors and make Akhuwat a sustainable, growth-oriented and replicable organization.Dr. Amjad said that we have introduced family enterprise loan for establishing a new business or expanding an existing one with the aim of enabling the borrower to secure a sustainable livelihood, Liberation loan to get rid of usurers, Education Loan caters to the needs of the poor who are unable to finance their own or their dependent’s education,Health Loan for those who are unable to support the costs for necessary health care,Emergency Loan to diffuse the impacts of major contingencies or crisis situations that undermine the sustainability of the livelihoods of the poor,Housing Loan is for necessary renovation of houses including construction of rooms, roofs and walls, and Marriage Loan  to facilitate the people for marriages of daughters. Akhuwat,according to him has a large portfolio of individual lending with a total of 14,711 beneficiaries and it has devised a rigorous appraisal method  to ensure maximum recovery.Praising the services of Dr Amjad Saqib, founder of Akhuwat,for introducing first ever interest free micro-finance programme in Pakistan,Khawaja Jalaluddin Roomi said that Pakistan needs welfare organisations that help confront the forces of darkness and contribute to spreading the light of education and alleviate the poverty in the country this programme operates from mosques and churches and has opened new vistas in the domain of social mobilization and poverty alleviation. This is the largest individual based lending programme in the country and is referred to in many international universities as a unique and innovative model in microfinance. Like many other non-profit organizations Akhuwat was an excellent vehicle for the Pakistani diaspora to give back to their country, he said. South Punjab,he noted, embraces the world’s most charity-giving cultures as its people are generous. No wonder the country was regarded as among the world’s top nations in terms of giving charity. “We have many challenges and problems,” the MCCI President said, adding, “But we must also count our blessings, and acknowledge what we do well — giving charity.” “While we keep exercising our right to subject ourselves to criticism, it would be a greater national duty if we are able to change what we are criticizing,” he said. “Indeed,” he added, “the highest form of patriotism is to become agents of change and help the underprivileged in our society.” “Akhuwat embodies that value,” he told. Roomi and other member of Chamber  paid tributes to the leadership of Dr Saqib, the Akhuwat’s founder, saying his commitment had helped change the destiny of thousands of countrymen. Dr Saqib, he said, had also managed to create a team of committed people to work for Akhuwat that has helped the organization to expand exponentially. Starting with only Rs 10,000, Akhuwat’s feat of distributing more than Rs 80 billion in just 10 year period, benefiting around two million families speaks of it success. And a recovery rate, he pointed out was a phenomenal 99.91 percent.Former Presidents Khawaja Muhammad Yousaf,Malik Asrar Ahmed Awan, Mian Bakhtawar Tanvir Sheikh Senior Vice President, Sheikh Fazal Elahi, Vice President,Commissioner Multan Bilal Ahmed Butt, Aurangzeb Alamgir, Khawaja Mansoor, Khawaja Naveed Iqbal and Secretary General Khurran Javed Butt were also present there.
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    Item Reviewed: Akhuwat Foundation has given Qard-e-Hasna of Rs.40 billion among 2 million people Rating: 5 Reviewed By: Abdul Sattar Qamar