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Mawakhat Program launched Interest-Free Loans
Mawakhat Program launched Interest-Free Loans: Al-Khidmat Foundation is a well-known and non-profit organization in Pakistan, and is an organization that has been dedicated to the service of humanity for decades. This charity has committed to improving the lives of poor, needy and deserving peoples and their various services. Among the services are education, health, clean water, financial assistance to orphans and giving them interest-free loans so that they can become self-reliant, the details of which will be explained to you in the article.
Interest-Free Loan Scheme
The Al-Khidmat Foundation’s Islamic Microfinance Program is a distinctive scheme to bring self-reliance to the financially weak segments of society. The program is targeted specifically for those individuals who want to start a business or expand their existing business but are hampered by interest-free loans. Al-Khidmat is providing small-scale interest-free loans, all of which comply strictly with Sharia and are completely interest-free. Through this initiative, deserving men and women are being provided to obtain self-respect employment opportunities, so that they can not only light the hearth of their own homes through their hard work, but also employ others.
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Loan Distribution Ceremony
A grand and prestigious ceremony was held to provide interest-free loans to deserving individuals and women under the Al-Khidmat Islamic Microfinance Program, which was also attended by many important personalities. Al-Khidmat Foundation’s National Director for Islamic Microfinance, Mian Babar Hameed, Al-Khidmat Lahore President Engineer Ahmed Hammad Rashid, and other officials were present during the ceremony. This ceremony educated the attendees both about the benefits of the program as well as the importance of an interest-free economy, according to Islamic principles. During the ceremony, Mian Babar Hameed provided helpful advice to the youth and entrepreneurs and promoted ideas and opportunities for the youth regarding economic independence.
Loans Worth Rs 704 Million and 96 Percent Recovery
The transparency and integrity of Al-Khidmat Foundation can be assessed by the fact that so far they have distributed interest free loans valued at Rs. 704 million to beneficiaries under this scheme. Thousands of persons have benefited from receiving these loans including a large number of women. What is even more astonishing is the recovery rate for this program stands at 96 percent, which is not only an indicator of Al-Khidmat’s performance, and operational efficiency butIt also indicates that the organization enjoys a degree of public confidence.
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Role of Women: From Home Economy to National Economy
Al-Khidmat Foundation has specifically prioritized enabling women through its interest free loan program. The program has been nothing short of a blessing for homemakers, widows, and less educated women. These loans open up the ability for these women to start jobs from home: sewing clothes, providing beauty parlor services, providing food and drink services, etc. Not only is this financial burden somewhat alleviated for these women, but they have a respectable position in society. This activity of Al-Khidmat can be considered as a positive example of women empowerment.
Opportunities for Youth
During the event Mian Babar Hameed advised the youth to grab business opportunities around them. He stated that the youth of Pakistan is gifted but is not able to succeed due to different types of limitations. The Al-Khidmat Foundation interest-free loans program is a golden opportunity for them to utilize their talents and step towards a prosperous future.
Transparency, Integrity and Trust
The biggest reason for the success of Al-Khidmat Foundation is its transparency and integrity. Complete records of loan disbursement are kept and all processes are in accordance with Sharia. This is why people trust this institution and hand over their Zakat, Sadaqat and donations to it.
Future Planning
Al-Khidmat Foundation has resolved that in the coming time, the scope of interest-free loans will be further expanded, so that more and more people can benefit from this facility. Through this program, a dream is being seen of an economy that is interest-free, trustworthy and empowered.
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Conclusion
Al-Khidmat Foundation’s interest-free loan program is like a bright lamp that is bringing happiness to people’s lives by becoming a ray of hope in the darkness. If this program continues with the same spirit and intention, millions of people in Pakistan will not only be financially stable but will also play an important role in the country’s economy. If you also want to be a part of this charitable mission of Al-Khidmat Foundation or want to benefit from this program, then be sure to contact their website or the nearest office.