Akhuwat Islamic Microfinance: Objectives, Replications, and Social Impact, Essays (university) of Social Work

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AKHUWAT

AKHUWAT AT A GLANCEAKHUWAT AT A GLANCE

AKHUWAT ISLAMIC MICROFINANCE (AIM)AKHUWAT ISLAMIC MICROFINANCE (AIM)

Akhuwat derives its name from ‘Mwakhaat’ or Objectives

brotherhood, the earliest example of which was

seen in the fraternity formed by the Ansars

(citizens of Medina) and the Muhajireen (or

Meccans) who had migrated to Medina to

escape religious persecution. The concept

materialized in 2001 with the �irst interest free

loan given to a widow who returned it after 6

months with a message to again give it to

someone. Akhuwat has now disbursed more

than 28 billion rupees to over 1,500,000 families

through more than 500 branches in more than

300 cities of Pakistan.

To provide interest free

micro�inance services to poor

families enabling them to

become self-reliant

To promote interest free loans

(Qarz-e-Hasan) as a viable

model and broad-based solution

for poverty alleviation

To provide social guidance,

capacity building, and

entrepreneurial training

To provide quality education to

needy and talented students

who exhibit a passion to

contribute positively towards

society

To transform Akhuwat’s

bene�iciaries into agents of

social change

To institutionalize the spirit of

brotherhood, compassion, and

volunteerism

To make Akhuwat a sustainable,

growth-oriented, and replicable

organization

To support the most

marginalized segment by

investments in social

development

Akhuwat Institute of Social

Enterprise & Management

(AISEM)

The Akhuwat Institute of Social Enterprise &

Management (AISEM) specializes in the provision

of customized workshops which are based upon

comprehensive Training Need Analysis bridged

with the needs and requirements of the

concerned organization. AISEM has a well

experienced and quali�ied training panel which

includes experts in the areas of �inance, audit,

social development, leadership, communication,

monitoring and evaluation, procurement,

community development, volunteerism, social

enterprise development, supply chain

management, micro�inance, community impact

assessment etc.

Akhuwat College

Akhuwat has established a College in Lahore

where students belonging to 40 districts of

Pakistan, from Sindh, Punjab, Khyber

Pakhtunkhwa, Balochistan, Gilgit Baltistan, Azad

Jammu Kashmir, and FATA, are enrolled. Akhuwat

College admits students from low-income

backgrounds, paying special attention to the

poorest of the poor (zakat mustahiq) and the

marginalized stratum of society without any

discriminationon on the basis of caste, colour and

creed. The families may be poor in wealth but are

rich in character and integrity.

Akhuwat “Dreams” Project

Beginning in 2008, Akhuwat Dreams Project was iniated to ful�il the ‘dreams’ of children suffering from terminal illnesses. Dedicated play rooms in hospitals offer bright, positive and playful environments for sick children, giving them a break from the otherwise drab and serious hospital environments.

Akhuwat Leadership and Fellowship

Program

This unique program trains through a rigorous and community focused four week module. It provides students with community exposure that aims to instill in them a sense of compassion and empathy.

Akhuwat Schools

Akhuwat has adopted 150 nonfunctional govt. schools through a public private partnership under the Public Schools Support Program. These schools are located in Faisalabad and Jhang Districts and have been converted into properly funcitonal educational institutions. Akhuwat plans to further operate 300 - 400 schools in the underdeveloped areas of Pakistan.

Akhuwat Conferences and Workshops

Conferences on topics related to Islamic Micro�inance have been held in partnership with University of Central Punjab in 2011 and 2015. Akhuwat has organized �ive international conferences under the banner of Global Micro�inance Islamic Forum. Hundreds of workshops in partnership with numerous prestigious universities as well as several Chambers of Commerce and Industry across Pakistan have also been executed.

Akhuwat Faisalabad Institute of

Research Science and Technology

(FIRST)

Akhuwat FIRST is a state-of-the-art

university complex in the making. The

complex is complete with facilities for

sports, encompassing computer and

research labs �itted with the latest

information technology equipment. It offers

four-year undergraduate degrees in the

sciences, with a special focus on

Biotechnology. To facilitate future scientists

in their respective �ields, Akhuwat FIRST

wants to create a niche by being a top-notch

research university in Pakistan.

Akhuwat Health Services (AHS)

Akhuwat Health Services caters to the health needs of the poorest of the poor and the Akhuwat bene�iciaries. It has developed a network of low priced medical services by collaborating with different hospitals, clinics, diagnostic centers and pharmacies and has treated 265,000 needy patients free-of-cost.

Khawaja-Sara Support Program

This is a joint project of Akhuwat and Fountain House. The program has several stages, starting with social engagement and provision of a small income supplement to the most vulnerable. Through this program, Akhuwat and Fountain House hope to reintegrate the khwajasiras (transgenders) back into society as equal citizens.

The Way Forward

Akhuwat through its different programs is providing holistic and integrated solutions to the destitute underprivileged segments of society in Pakistan. It is inculcating the spirit and philosophy of Akhuwat in the hearts and mind of millions of peoples around the world. Akhuwat inspires to expand its outreach whereby it can provide �inancial, health and educational facilities to over 2.5 million families by the year 2020, through its own organizational initiatives and by promoting its replication model. It also intends to take its foot print across the borders of Pakistan and help support impoverished communities in other regions.

Planned Kasur Campus

Left: Beneficiaries waiting to receive their cheques; (Right): Dr. Amjad Saqib addressing the audience at a loan distrubution ceremony at Masjid Wazir Khan held to commemorate the inauguration of Akhuwat 500th branch at Delhi Gate, Lahore

Akhuwat Head Office, Lahore, Pakistan. 19- Civic Centre, Sector A2, Township, Lahore www.akhuwat.org.pk www.aisem.com.pk

Akhuwat through the years...

3300 Employees

500 Branches

28 Billion Rupees Given as Interest Free Loans

1.5 Million Families

510,000 Clothes Distributed

Dewar-e-Akhuwat across Pakistan: 100

265,000 Patients treated free of cost

Dream Rooms established:

4

21,000+ Volunteers

14,000+ students enrolled in AES institutions

1150 Fellows/Interns trained

27,000+ Students trained

6 libraries established

125 book corners under development

Schools operated: 150 with plans to open another 300

351 Khwajasiras registered & 900 khwajisiras interviewed

350 Events/Seminars/Conferences conducted

Donate to Akhuwat

1. Bank Name: Burj Bank Ltd. Account Title: AKHUWAT Branch Code: 7401 Account No. 7401105860000442 IBAN # PK50BURJ7401105860000442 Swift code: **BURJPKKAXXX

2. Bank Name: Meezan Bank Ltd.** Account Title: AKHUWAT Branch Code: 0222 Account No. 0100097547 IBAN # PK79MEZN0002220100097547 Swift code: MEZNPKKAXXX 3. Bank Name: Bank Islami Akhuwat Zakat Account: Account Title: Akhuwat Account Number: 201100116060201 Akhuwat Donation Account: Account Title: Akhuwat Donation Account Number: 201100116060206