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

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. 

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