Akhuwat Foundation is a non-profit organisation that provides interest-free loans to low-income individuals to help them start their own businesses or pursue education. It was founded in 2001 by Dr. Amjad Saqib in Lahore, and has expanded to different cities across Pakistan since then.
Graana.com provides a detailed overview of Akhuwat Foundation Karachi below.
About Akhuwat Foundation Karachi
Akhuwat Foundation was founded in 2001 in Lahore by Dr. Amjad Saqib, who was a civil servant who served in various positions in the government of Pakistan, including Secretary of the Punjab Planning and Development Department.
He was inspired to establish a foundation after witnessing the devastating effects of poverty on the lives of people in Pakistan. He believed that poverty was a complex problem that required a multi-dimensional solution, and he was convinced that interest-free loans could play a critical role in alleviating poverty.
Dr. launched the project with a personal donation of one million Pakistani rupees. The foundation’s initial focus was on providing interest-free loans to underprivileged individuals who wanted to start their own businesses or pursue education.
Over time, it expanded its operations and established partnerships with various organisations and corporations. It also started providing social services to underprivileged communities in Pakistan, including healthcare, vocational training, and legal aid.
Today, it is one of the largest microfinance institutions in Pakistan, and it has disbursed billions of rupees to underprivileged individuals in the form of interest-free business loans.
Akhuwat Foundation Karachi: Vision and Mission
The foundation’s vision and mission are as follows:
Vision
Its vision is to create a poverty-free society where everyone has access to basic needs, such as food, shelter, education, and healthcare, and can live a dignified life. The foundation aims to empower individuals and communities to become self-sufficient and break the cycle of poverty.
Mission
Akhuwat Foundation’s mission is to provide interest-free microfinance loans, educational support, healthcare services. They also offer loans to other social welfare programs to underprivileged individuals and communities in Pakistan. It aims to improve their living conditions and help them achieve their full potential.
How Akhuwat Foundation Karachi Works
It operates on the principle of Qarz-e-Hasna, which means interest-free loans. The foundation raises funds through donations from individuals, organisations, and corporations. The funds are then dispersed as interest-free loans to needy individuals who want to start their own business or pursue education.
The loan repayment process is also unique as the borrowers are given a grace period of six months before they are required to start paying back the loan.
Moreover, the loan repayment process is flexible and is tailored to the borrower’s income and financial situation. The borrower is also encouraged to repay the loan as soon as possible so that the funds can be used to help other needy individuals.
Akhuwat Flood Response 2022
In August 2022, heavy monsoon rains caused severe flooding in various parts of Pakistan. That affected millions of people and causing extensive damage to homes, crops, and infrastructure. They caused widespread displacement and loss of livelihoods, exacerbating the already dire situation of vulnerable communities.
In response to the floods, Akhuwat Foundation launched a comprehensive flood relief and rehabilitation program to provide immediate assistance to the affected communities. It aimed to provide food, clean water, shelter, and healthcare services to the flood victims, as well as to support their rehabilitation and recovery.
It partnered with other relief organisations, government agencies, and local communities to coordinate and implement the relief efforts. The foundation’s volunteers and staff worked tirelessly to provide aid to the affected communities, distributing food and other items, setting up temporary shelters, and providing medical assistance to the sick and injured.
The flood response program focused on long-term recovery and rehabilitation, including the reconstruction of damaged homes, schools, and other infrastructure. The foundation also provided interest-free loans and other economic support to help the affected families rebuild their livelihoods and become self-sufficient.
The program was a testament to the foundation’s commitment to serving the most vulnerable communities in times of crisis. Its efforts have helped alleviate the suffering of millions of people affected by the floods and provided them with hope for a better future.
Akhuwat Foundation Karachi Contact Information
| Name | Akhuwat Foundation Karachi |
| Address | F-17/1, Block F, Nazimabad No. 4 |
| Phone | +92 21 36647275 |
| info@akhuwat.org.pk | |
| Website | www.akhuwat.org.pk |
| Hours of Operation | Monday to Friday, 9:00 am to 5:00 pm |
They laid the foundation of Akhuwat foundation in Nazimabad, during 2009. The team includes social workers, finance professionals, and volunteers who try to provide the best possible services to the underprivileged communities of the city.
Impact of Akhuwat Foundation Karachi
Since its inception, Akhuwat Foundation Karachi has disbursed over PKR 12 billion in interest-free loans to more than 2 million individuals. The foundation has helped many individuals start their own businesses and become financially self-sufficient. Moreover, it has also helped many individuals pursue education and become productive members of society.
It has also played an important role in reducing poverty in Karachi. The loans have helped many families meet their basic needs such as food, shelter, and healthcare.
Partnerships and Collaborations
Akhuwat Foundation Karachi has partnered with many organisations and corporations to further its mission. It has collaborated with the following:
- Karachi Chamber of Commerce and Industry
- The Federation of Pakistan Chambers of Commerce and Industry
- Pakistan Poverty Alleviation Fund and many others.
It has also collaborated with the government of Sindh to provide interest-free loans to the underprivileged individuals of the city.
For information on similar topics such as investment opportunities in Pakistan, visit Graana.com.
FAQs
Here are some FAQs related to Akhuwat Foundation Karachi
What is Akhuwat Foundation Karachi?
Akhuwat Foundation Karachi is a non-profit organization that provides interest-free microfinance and other social welfare services to empower individuals and communities in need. It was established to alleviate poverty and promote socio-economic development.
How does Akhuwat Foundation Karachi help people?
People are helped by Akhuwat Foundation Karachi through various initiatives, including interest-free loans, vocational training programs, healthcare services, education support, and social welfare programs. These services aim to uplift individuals and communities, enabling them to improve their lives and break the cycle of poverty.
Who can benefit from Akhuwat Foundation Karachi’s services?
Akhuwat Foundation Karachi’s services are available to individuals from all walks of life, irrespective of their gender, religion, or ethnicity. The foundation aims to reach out to marginalized and underprivileged individuals who are in need of support and assistance.
How can one apply for assistance from Akhuwat Foundation Karachi?
Applications for assistance from Akhuwat Foundation Karachi can be made through their designated offices or online portals. The application process typically involves providing necessary information, documentation, and undergoing a screening or evaluation process to determine eligibility.
Is financial assistance provided as grants or loans by Akhuwat Foundation Karachi?
Financial assistance provided by Akhuwat Foundation Karachi is primarily in the form of interest-free loans. This approach enables individuals to access funds for various purposes while promoting self-reliance and dignity. However, the foundation may also offer grants or financial support in certain exceptional cases or for specific projects.
How is Akhuwat Foundation Karachi funded?
Akhuwat Foundation Karachi is funded through donations and contributions from individuals, philanthropists, businesses, and institutional partners who believe in the foundation’s mission. The generosity of donors enables the foundation to continue its work and expand its impact in the community.
What are the success stories of Akhuwat Foundation Karachi?
Akhuwat Foundation Karachi has numerous success stories where individuals and communities have been able to overcome financial challenges, start their own businesses, improve their livelihoods, and achieve self-sustainability. These success stories are a testament to the effectiveness and impact of the foundation’s efforts.
How can I support Akhuwat Foundation Karachi’s work?
Individuals can support Akhuwat Foundation Karachi by donating funds, volunteering their time and expertise, raising awareness about the foundation’s work, and participating in fundraising activities. Every contribution, no matter how small, can make a positive difference in the lives of those in need.
