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Founder of Pakistan’s largest microfinance institution receives Commonwealth Points of Light Award

 

Dr. Muhammad Amjad Saqib, Founding father of Akhuwat, Pakistan’s largest interest-free micro-finance group has been honored by the British Queen’s 31st Commonwealth Level of Gentle Award for economically empowering hundreds of underprivileged individuals of Pakistan. The Commonwealth Level of Gentle Award is offered to inspirational volunteers throughout 53 Commonwealth nation for the impression they’ve made of their native communities.

The UK Excessive Commissioner in Pakistan, Thomas Drew offered the award to Dr. Saqib and shared, “I’m delighted to current Dr. Muhammad Amjad Saqib with the Commonwealth Level of Gentle award for his distinctive voluntary service that has benefitted tons of of hundreds of deprived individuals.”

Upon receiving the Award, Dr. Saqib stated, “Poverty is poison. Poverty is ache. We have to rise collectively and make a concerted effort to scale back poverty and make this world a cheerful place to dwell in”.

Akhuwat has been offering interest-free loans to the economically deprived empowering them to setup technique of incomes for themselves. Initiated in 2001, Akhuwat now has 700 branches in 350 cities throughout Pakistan. The group has enabled over 600,000 locals to change into self-reliant and earn a good earnings. They’ve offered over $484 million in interest-free loans with a shocking restoration charge of 99.96%. The restoration charge defines the success of Akhuwat as in comparison with comparable micro-finance establishments. The operational prices of the group are lined by donations.

Akhuwat has additionally been supporting initiatives for training. They’ve established Akhuwat Faculty in 2015 that gives a residential facility for college kids who would not have entry to high quality training. Furthermore, Akhuwat College is to be launched in November of this 12 months as Pakistan’s first free college that may help over 600 college students.

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