On 13th June, 2011, the International Conference on Islamic Microfinance was held at the Faisal Mosque Auditorium, Islamabad which brought conference brought together international researchers, academics and practitioners to highlight various models and practices of Islamic Microfinance. Akhuwat was invited to present its model of Qarz-e-Hassan to a wider audience.
Akhuwat partnered with AlHuda Center of Islamic Banking and Islamic Economics (CIBE), in organizing an International Conference on Islamic Microfinance at the Faisal Mosque Auditorium, Islamabad on the 13th of June, 2011. This conference brought together international researchers, academics and practitioners to highlight various models and practices of Islamic Microfinance. With a special focus on the application of Qarz-e-Hassan, the conference explored various means of poverty alleviation that are in line with Sharia principles and brought forth new dimensions that Islamic Microfinance has to offer to this end.
Dr Amjad Saqib, Executive Director, delivered the welcome address at the conference where he highlighted the paradigm shift in conventional microfinance and stressed on the features and philosophy of Islamic microfinance which gives the world an and a practical approach in achieving the aim of poverty alleviation.
During the third session of the conference, Akhuwat presented its model of Qarz-e-Hasna to a wider audience of national and international experts. The session on Akhuwat was chaired by Dr Amjad Saqib, Executive Director, Akhuwat and Dr. Rashid Bajwa, CEO of National Rural Support Program.
Prof. Athar Azim Khan, Faculty of Commerce, University of Central Punjab discussed the salient features of the Akhuwat model. Khawaja Zakauddin, President, Khud Kifalat Rozgar Trust, talked of linkages between microfinance and the business community by drawing on his own experience of introducing the Akhuwat model through the Khud Kifalat Rozgar Trust which is supported by members of Sialkot Chamber of Commerce and Industry. Syed Qaiser Ali, Founder and President of Akhuwat Sindh, CEO of M/S Bilkish Associates Pakistan (Pvt.) Ltd highlighted the challenges and opportunities in replicating the Akhuwat Model. Akhuwat Sindh was one of the first replications of the Akhuwat Model.
To give participants of the conference an insight to Akhuwat’s operations, at the end of the conference loan disbursement to borrowers took place. Dr Amjad Saqib addressed the crowd of borrowers explaining the philosophy of Akhuwat and highlighting broader development agendas including female education, environmental conservation, ethics in business and respecting local laws.