Abstract:
In 2009, Dr. Amjad Saqib, Executive Director of Akhuwat, was deciding if he should introduce an interest-free financing model that effectively builds on the cultural uniqueness of the local community. This model aims to provide interest-free small loans (qarz e hasna) in the spirit of Islamic brotherhood where most activities are performed by volunteers. All activities revolve around religious institutions like mosques and involve a close interaction with the community.