Alkhidmat Income Generating Program

Executive Summary

Alkhidmat Foundation Pakistan (AKFP), through its Islamic Microfinance initiative (AKIM), distributed interest-free loan cheques to 30 individuals in Haripur. This initiative aims to empower economically disadvantaged individuals by providing them with the financial support needed to establish sustainable and dignified livelihoods.

Background

Poverty and unemployment are pressing issues in Haripur, where many individuals struggle to access financial resources due to high-interest rates imposed by conventional banking systems. Alkhidmat's Islamic Microfinance (AKIM) program seeks to provide an ethical and interest-free financial alternative to enable underprivileged communities to rise out of poverty.

Project Objectives

1. To provide financial assistance to underprivileged individuals in Haripur.
2. To empower beneficiaries to establish or expand small businesses.
3. To promote financial independence and reduce reliance on exploitative lending practices.

Implementation

1. Beneficiary Selection:

   • A transparent process was followed to identify 30 deserving individuals based on their financial needs, business viability, and commitment to repay the loan.

2. Distribution of Loans:

   • On [insert distribution date], interest-free loan cheques were handed over to the selected beneficiaries during a community event attended by local stakeholders and AKFP representatives.

3. Capacity Building:

   • Beneficiaries were provided basic financial management training to enhance their business planning and operational skills.

4. Monitoring and Evaluation:

   • Regular follow-ups will be conducted to ensure the proper utilization of funds and track the progress of businesses established with these loans.

Impact

The project directly impacted 30 individuals and their families, enabling them to pursue dignified income-generating opportunities. These loans will empower beneficiaries to start or expand small businesses, such as tailoring, livestock farming, retail shops, and other local trades.

This initiative also fosters a culture of ethical and interest-free financial practices in the community, aligning with AKIM's vision of empowering communities through sustainable development.

Conclusion and Future Plans

Alkhidmat Foundation's interest-free loan distribution in Haripur is a significant step towards uplifting marginalized communities and promoting self-reliance. AKFP aims to scale up this initiative, reaching more individuals across Pakistan to expand its impact and create a ripple effect of economic empowerment.

We express our gratitude to GlobalGiving and all donors for their continuous support, enabling us to serve humanity with dignity and compassion.