By Abdul Qadir Qureshi
(Pakistan News & Features Services)
(Pakistan News & Features Services)
Dr Mohammad Amjad Saqib, Executive Director, Akhuwat Foundation, visited the Sir Syed University of Engineering and Technology (SSUET), Karachi, where he had a detailed session with its students.
The Akhuwat Foundation’s founder inspired the students and inculcated in them a sense of gratitude for their blessings and a sense of responsibility to share these with people who are less fortunate.
The Lahore-based Akhuwat Foundation was established in 2001 with the objective of providing interest free microfinance to the poor in order to enhance their standard of living.
Drawing on the principles of social justice and brotherhood, Akhuwat has been striving to alleviate poverty by creating a system based on mutual support in society, having adopted microfinance as its operational strategy with the loans being offered in accordance with the doctrines of Qarz-e-Hassan.
Akhuwat, registered under the Societies Registration Act of 1860, levies no interest on its loans, operates through religious places and seeks to inspire and harness the spirit of volunteerism in society. The mandate of Akhuwat extends beyond financial transactions as it makes every effort to guide, support and empower the poor.
Dr Amjad Saqib has been bringing to light the fact that in Pakistan, almost 50 percent population was forced to live below poverty line which made it the responsibility of affluent people to prevent the poor from becoming beggars.
"We feel that it is our responsibility to provide them interest free loan to hard working poor people to establish their own small business to support their families," he was quoted as saying.
During the last 15 years, the Akhuwat Foundation has provided three billion rupees interest free loan to over 1.6 million families to make them independent economically and the recovery of loan was around 99.9 per cent which helped them to perpetuate its welfare activities.
