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1
1. Inspiration : Muakhat-a-Madina
2. 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
2
INNOVATION 1
Cardinal Islamic Practice
Emphasis in Hadith and Practiced by Holy Prophet
Higher virtue than Sadaqat/ Khairat
4
Helping someone in need with interest
free loans; these are preferred over
charity.
Akhuwat has not reinvented wheel………
It has only institutionalized the individual
practice of Qarz-e-Hasna
5
6
Progress Total
Total Family Loans203,554
Amount Disbursed Rs. 2.90 Billion
Active Loans 85,422
Percentage Recovery 99.84%
Number of Cities 105
Number of Branches 153
Cost Structure
Interest : zero
Loan Processing Fee: zero
Profit : zero
Application Fee : Rs. 100 7
INNOVATION 2
9
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.
A Loan Disbursement Event in a Mosque
A Loan Disbursement Event in a Mosque
A Loan Disbursement Event in a Mosque
A Loan Disbursement Event in a Mosque
Akhuwat Event in a Mosque (Chiniot)
Akhuwat Event in a Mosque (Lahore)
Akhuwat Event in a Mosque (Lahore)
Akhuwat Event in a Mosque (Lahore)
Akhuwat Event in a Mosque (Mithan Kot)
Akhuwat Event in a Mosque (Rajan Pur)
Akhuwat Event in a Mosque (Choti – D.G Khan)
Awareness Event in a Mosque
22A Loan Disbursement Event in a Mosque
A Loan Disbursement Event in a Mosque
24A Loan Disbursement Event in a Mosque
INNOVATION 3
26
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.
INNOVATION 4
28
Since its inception, Akhuwat has relied
upon local philanthropists. Akhuwat’s
source of funding is:
• Individual donors
• Institutional donors
• Borrowers become donors
29
Year Amount (in PKR)
2001-02 1.5 M
2002-03 1.8 M
2003-04 7.1 M
2004-05 10.9 M
2005-06 28.3 M
Year Amount (in PKR)
2006-07 17.7 M
2007-08 23.2 M
2008-09 36.1 M
2009-10 108 M
2010-11 127 M
2011-12 95 M
30
• 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
INNOVATION 5
32
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
34Akhuwat volunteers at a fund raising event
35Volunteers at Akhuwat Entrepreneurship Awards 2009
36Volunteers at Akhuwat Funds Mobilization Event
37
…It is civil society at best
A Fund Raising Event
Volunteerism is replication of
Mua’khat-a-Madina
38
INNOVATION 6
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
40
41Yes! I am a borrower but a donor too!
Donation box at a borrower’s shop
43
Month Amount (in PKR)
July 1,406,360August 1,488,919
September 1,418,952October 1,396,203November 1,418,743December 1,622,505January 1,897,075February 2,130,348March 2,616,181April 2,851,965May 2,765,891June 3,049,594Total 24,062,736
INNOVATION 7
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
45
INNOVATION 8
47
Branch Offices in Mosque
“Farshi” Floor Seating
Training in Mosque
No Car/ Jeep
Banker on bike
No Tea/ eatables
48Staff Training Event in Model Town Branch
49Staff Training Event in Model Town Branch
50Staff Training Event in Model Town Branch
51Staff Training Event in Mosque
52Executive Director and Akhuwat Staff in Township Branch, Lahore.
Collateral Finance
Microfinance
Qarz-e-Husn
Zakat
50%
25-30%
15-20%5%
53
Malcolm HarperChairman
Micro-Credit Ratings International
55
Mr. Shoaib Sultan KhanChairman
Rural Support Program Network (RSPN)
ACTIVITY LOCATION Dialogue in the mosque Mosque/Church Establishment of an office in mosque Mosque/Church Programme Introduction Mosques/Church Receive Applications Office / Mosques Social Screening Place of
residence Economic Appraisal Market /
Mosques Site Visit House/Market Guarantor’s interview Mosque Finalization of documents/case Mosque Approval of case by loan committee Mosque Cheque preparation Office Disbursement of cheque/social guidance Mosque / Church Fortnightly visits / monitoring Business place Recovery Deposit/social guidance Mosque / Follow-
up Subsequent Visit/monitoring Market Second Loan Office / Record
Address: 382, Block 15, Sector B-1, TownshipTel: +092 0423 5122743 Mob: +092 0333 4323631, 0300 4609807, 0300 8420495
Email: [email protected], [email protected], [email protected]