1 / 73

Akhuwat AN INNOVATIVE APPROACH TO MICROFINANCE by Dr. Muhammad Amjad Saqib 08-12-12 dubai

Akhuwat AN INNOVATIVE APPROACH TO MICROFINANCE by Dr. Muhammad Amjad Saqib 08-12-12 dubai. Inspiration : Muakhat -a-Madina Assumptions: People who want to give to others Poor are trust worthy and want to work 3 . Principles: Interest Free Mosque Local philanthropy & Volunteerism

vachel
Download Presentation

Akhuwat AN INNOVATIVE APPROACH TO MICROFINANCE by Dr. Muhammad Amjad Saqib 08-12-12 dubai

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Akhuwat AN INNOVATIVE APPROACHTO MICROFINANCEbyDr. Muhammad Amjad Saqib08-12-12dubai

  2. Inspiration : Muakhat-a-Madina Assumptions: People who want to give to others Poor are trust worthy and want to work 3. Principles: Interest Free Mosque Local philanthropy & Volunteerism Takers will become givers Introduction

  3. INNOVATION 1

  4. Cardinal Islamic Practice Emphasis in Hadith and Practiced by Holy Prophet Higher virtue than Sadaqat/ Khairat 1. Interest free loan or Qarz-e-hasna Helping someone in need with interest free loans; these are preferred over charity.

  5. Akhuwat has not reinvented wheel……… It has only institutionalized the individual practice of Qarz-e-Hasna

  6. Progress indicators

  7. Cost Structure Interest : zero Loan Processing Fee: zero Profit : zero Application Fee : Rs. 100 Interest Free Loans (Qarz-e-hasna)

  8. INNOVATION 2

  9. 2. Use of mosque/church for social development • Akhuwat uses local mosque or church infrastructure as the center for loan disbursement. This provides an avenue for: • Community participation • Raising awareness • Cuts organizational costs • Ensures transparency and • Accountability.

  10. A Loan Disbursement Event in a Mosque

  11. A Loan Disbursement Event in a Mosque

  12. A Loan Disbursement Event in a Mosque

  13. A Loan Disbursement Event in a Mosque

  14. Akhuwat Event in a Mosque (Chiniot)

  15. Akhuwat Event in a Mosque (Lahore)

  16. Akhuwat Event in a Mosque (Lahore)

  17. Akhuwat Event in a Mosque (Lahore)

  18. Akhuwat Event in a Mosque (Mithan Kot)

  19. Akhuwat Event in a Mosque (RajanPur)

  20. Akhuwat Event in a Mosque (Choti – D.G Khan)

  21. Awareness Event in a Mosque

  22. A Loan Disbursement Event in a Mosque

  23. A Loan Disbursement Event in a Mosque

  24. A Loan Disbursement Event in a Mosque

  25. INNOVATION 3

  26. 3. Family loans Akhuwat does not discriminate on the basis of Male or Female. It visualizes family as a basic unit in a society. The loan application is jointly signed by male and female heads of the family.

  27. INNOVATION 4

  28. 4. Local philanthropy….. • Since its inception, Akhuwat has relied upon local philanthropists. Akhuwat’s source of funding is: • Individual donors • Institutional donors • Borrowers become donors

  29. Year Wise Trend of Donations

  30. Local philanthropy • Helping our poor is our responsibility. • A pool of more than 1000 donors. • Donated amount ranges from PKR 10,000 to 10 million. • Donation Pool has exceeded Rs. 500 million • Developing working relations with International Donors

  31. INNOVATION 5

  32. 5. Volunteerism…. • The spirit of volunteerism is the hallmark of Akhuwat’s operations. It is a key factor for the success and sustainability. Many people extend their valuable time, money and other resources free of cost. • More than 1000 registered volunteers • Involvement of Civil Society, Private Sector, Expatriates & Experts • Universities: UCP, UMT & LUMS

  33. Akhuwat volunteers with Ex-Governor Punjab Lt. Gen (rtd) Khalid Maqbool at a Certificate distribution event

  34. Akhuwat volunteers at a fund raising event

  35. Volunteers at Akhuwat Entrepreneurship Awards 2009

  36. Volunteers at Akhuwat Funds Mobilization Event

  37. …It is civil society at best A Fund Raising Event

  38. Volunteerism is replication of Mua’khat-a-Madina

  39. INNOVATION 6

  40. 6. BORROWERS BECOMING DONORS • Our borrowers are our donors as well • Small Donation boxes are placed at work places • Borrower contributes Rs. 2 to Rs. 5 daily. • More than 50,000 active borrowers • It is not compulsory • Staff also donates • Journey towards Sustainability

  41. Yes! I am a borrower but a donor too!

  42. Donation box at a borrower’s shop

  43. MDP – journey towards sustainabilityDonations by borrowers 2011-12

  44. INNOVATION 7

  45. 7. Credit plus approach Akhuwat has used credit plus approach by introducing the idea of social guidance for its credit beneficiaries to help them flourish their small enterprises and improve their standard of living. It focuses on Education, Health, Environment, Local Laws and ethical business practices

  46. INNOVATION 8

  47. 8. Simple operations • Branch Offices in Mosque • “Farshi” Floor Seating • Training in Mosque • No Car/ Jeep • Banker on bike • No Tea/ eatables

  48. Staff Training Event in Model Town Branch

  49. Staff Training Event in Model Town Branch

  50. Staff Training Event in Model Town Branch

More Related