Akhuwat UK Trust
Akhuwat Foundation is the world's largest interest-free microfinance working on the Islamic principles of Qarz-e-Hasna, whose story is taught at Harvard, Oxford, Cambridge, and other globally renowned universities. Akhuwat is a nonprofit organization based in Pakistan that works to create a poverty-free society. It was founded in 2001 by Dr. Muhammad Amjad Saqib who is the Chairman of the organization. Akhuwat's head office is located in Lahore and it has over 800 branches across 400 cities in Pakistan.
Akhuwat has disbursed over 6 million interest-free loans (Qarz-e-Hasan) amounting to over PKR 250 Billion (US$1 Billion) to over 6 million families across Pakistan. By using interest-free Islamic microfinance as a tool for poverty alleviation, Akhuwat helps its beneficiaries to become socially and financially included members of Pakistan's society.
To cater to the multidimensional issue of poverty, Akhuwat has branched out into the field of education, and health, providing clothes to the underprivileged, and free education up to the university level.
Akhuwat is registered as a legal entity in the USA, UK, Canada, and Sweden. Additionally, it has initiated engagement with organizations in Nigeria, Uganda and Afghanistan for global replication and expansion.
Akhuwat's services have been recognized by the United Nations, Davos Economic Forum, and multiple global institutions. Akhuwat's founder has been awarded Ramon Magsasay Award in 2022 which is populalry known as Asia's Nobel Prize equivalent.