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“Akhuwat” A Qarz e Hasan Programme By Dr. Amjad Saqib 01-11-2014

“Akhuwat” A Qarz e Hasan Programme By Dr. Amjad Saqib 01-11-2014. VISION. A poverty free society built on the principles of compassion and equity. MISSION.

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“Akhuwat” A Qarz e Hasan Programme By Dr. Amjad Saqib 01-11-2014

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  1. “Akhuwat” A Qarz e Hasan ProgrammeByDr. AmjadSaqib01-11-2014

  2. VISION A poverty free society built on the principles of compassion and equity

  3. MISSION To alleviate poverty by empowering socially and economically marginalized families through interest free microfinance and by harnessing entrepreneurial potential, capacity building and social guidance.

  4. PHILOSOPHY Muakhat or Brotherhood OPERATIONAL STRATEGY Microfinance

  5. STORY First Loan Rest is History

  6. Process, Principles And Achievements

  7. PROCESS • ESTABLISHEMENT OF A CREDIT POOL • SMALL LOANS (Qarz e Hasana) TO THE POOR FROM CREDIT POOL • LOANS ARE GIVEN to: • START OR EXPAND BUSINESS or • SOCIAL NEEDS • INCREASE IN INCOME OF POOR • IMPROVEMENT IN QUALITY OF LIFE • ALLEVIATION OF POVERTY • A BETTER SOCIETY

  8. PRINCIPLES • LOANS GIVEN FROM CREDIT POOL ARE INTEREST FREE • ACTIVITIES CENTERED IN MOSQUE AND CHURCH • VOLUNTEERISM • REPLICATION AND EXPANSION • OUR BORROWERS ARE OUR DONORS AS WELL

  9. PICTURES BUSINESSES

  10. PICTURES MOSQUES & CHURCHES

  11. A Loan Disbursement Event in a Mosque

  12. A Loan Disbursement Event in a Church

  13. Awareness Event in a Mosque

  14. Akhuwat Event in a Mosque (Chiniot)

  15. PICTURES VOLUNTEERISM

  16. Akhuwat Fundraising Dinner 2014 at Governor House - Lahore

  17. What have we done? Achievements

  18. ACHIEVEMENTS I • Started in 2001 with a first donation of Rs. 10,000 (US $ 100) • Credit Pool now has grown to Rs. 4 Billion (US $ 40 Million) • This Pool is a Revolving fund • The amount is regularly disbursed and recovered • Cumulative disbursement is Rs. 11 Billion (US $ 110 Million)

  19. ACHIEVEMENTS II • Total Branches: 300 • Presence in 190 Cities and towns in Pakistan • Total borrowers: 630,000 • Recovery Rate : 99.85 % • Staff : 2000 • A new model in the world of Micro Finance • Included in the syllabus of Two International Universities (Lahore University of Management Sciences, Lahore and University of Southern New Hampshire, USA)

  20. REPLICATION & EXPANSION

  21. Chief Minister Self Employment Scheme – CMSES (Punjab & GilgitBaltistan) • Fund of Rs. 3 Billion for Punjab & Rs. 200 Million for GilgitBaltistan • Outsourced to Akhuwat • All districts of Punjab province & GilgitBaltistan • Disbursed so far Rs. 5 Billion (400,000 borrowers) • Third party monitoring • Operational expense paid by provincial governments • Priority to women & skillful youth

  22. Prime Minister Interest Free Loan Scheme (PMIFL) • A fund of Rs. 3.5 Billion • 1 Million loans in 4 years • Outsourced to Pakistan Poverty Alleviation Fund (PPAF) • PPAF identifies partners who implement the programme • PPAF monitors & is accountable to Ministry of Finance through a steering committee • Progress - Target

  23. Conclusion Inculcating a spirit of sharing & demonstrating that Akhuwat or Muakhat (Brotherhood) is a viable concept and poverty can be reduced through Qard-e-Hassan.

  24. Thank You

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