Rs 500,000 donated for Islamic Micro-Financing

QWP donated Rs 500,000 ($5,500) for the Islamic Micro-Financing Program of Muslim Aid.

The goal of the Muslim Aid Micro-Financing Program is to contribute towards the eradication of extreme poverty and hunger through, enhancing the monthly Income of 1200 less privileged families through the establishment and enhancement of micro-enterprises.

Muslim Aid promotes the development of an ‘ethical’ economic system based on Shariah compliance whereby people’s potentials are unleashed and they work towards the betterment of their economic and social conditions. Muslim Aid presently offers Islamic Micro-Financing in two cities; Rawalpindi and Chakwal.

Two target segments of the population are served by the Muslim Aid Micro-Financing Program:

• Ultra poor – those who live below the poverty line—less than $2 per day—and have absolutely no access to finance.

• Poor – slightly better off than ultra-poor, although still not bankable;  these people are open to entrepreneurship.