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Title: : قرض حسنہ کی اہمیت اورغربت کےخاتمےکےلیے اخوت فاؤنڈیشن کا لائحہ عمل:تجزیاتی مطالعہ
Authors: Hafiz Abdul Qayyum, Ghulam Haider
Journal: Al-Mithaq
Publisher: Hira Institute of Social Sciences Research & Development
Country: Pakistan
Year: 2024
Volume: 3
Issue: 2
Language: Urdu
Keywords: CommunityEconomyQarż-e-ḤasanaAkhuwat FoundationFinancial System
This analytical study explores the significance of Qarż-e-Ḥasana (interest-free loans) as an effective tool in poverty alleviation, with a particular focus on the Akhuwat Foundation's pioneering model. Founded in 2003 by Dr. Amjad Saqib, Akhuwat Foundation is one of Pakistan's foremost social enterprises dedicated to offering interest-free microloans to underprivileged communities. Through a unique financial model based on Islamic principles of compassion, social justice, and brotherhood, Akhuwat aims to empower individuals economically without the burden of interest, thus promoting financial inclusion and self-reliance. This study investigates the foundation’s strategy, which includes extending interest-free loans, fostering small businesses, and investing in social services such as healthcare and education. The research demonstrates how Qarż-e-Ḥasana facilitates poverty reduction by helping beneficiaries build sustainable livelihoods, creating a multiplier effect in local economies. Furthermore, the analysis highlights the Foundation’s success in generating community trust, encouraging timely repayments, and reinvesting funds back into the community, thus creating a self-sustaining financial ecosystem. By examining Akhuwat's impact on poverty levels across Pakistan, this study sheds light on the broader applicability of interest-free microfinance as a viable model for poverty alleviation and economic development in other parts of the world.
To explore the significance of Qar-e-asana (interest-free loans) as an effective tool in poverty alleviation, with a particular focus on the Akhuwat Foundation's model.
Analytical study investigating the strategy of the Akhuwat Foundation, which includes extending interest-free loans, fostering small businesses, and investing in social services. The research examines the foundation's impact on poverty levels and the applicability of interest-free microfinance.
graph TD;
A["Study of Qar-e-asana and Akhuwat Foundation"] --> B["Analysis of Akhuwat Foundation's Strategy"];
B --> C["Investigation of Impact on Poverty Alleviation"];
C --> D["Evaluation of Interest-free Microfinance Model"];
D --> E["Conclusion on Applicability for Economic Development"];
The study highlights how the Akhuwat Foundation's model, based on Islamic principles of compassion, social justice, and brotherhood, empowers individuals economically without the burden of interest, promoting financial inclusion and self-reliance. The research suggests the broader applicability of interest-free microfinance for poverty alleviation and economic development globally.
Qar-e-asana facilitates poverty reduction by helping beneficiaries build sustainable livelihoods and creating a multiplier effect in local economies. The Akhuwat Foundation has successfully generated community trust, encouraged timely repayments, and reinvested funds, creating a self-sustaining financial ecosystem.
Interest-free microfinance, exemplified by the Akhuwat Foundation's strategy, is a viable and effective model for poverty alleviation and economic development.
- The Akhuwat Foundation was founded in 2003 by Dr. Amjad Saqib. (Confirmed in Abstract)
- The study was published in Al-Mthq (Research Journal of Islamic Theology), Volume 03, Issue 02, July-September 2024. (Confirmed in Title and Citation)
- The article received on 02-09-2024, accepted on 20-09-2024, and published on 30-09-2024. (Confirmed in Article History section)
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