Philanthropist and founder of Akhuwat Foundation, Dr. Amjad Saqib has made Pakistan proud with his tireless efforts and ingenuity that resulted in the development of an interest-free financing model. The same achievement has now allowed for him to win Asia’s highest honor, the Ramon Magsaysay award.
This is indeed a moment of pride for Pakistan as the award is considered equivalent to the Nobel Prize in Asia.
The statement further highlighted the 64-year-old’s efforts in the microfinance sector. It said the Akhuwat Foundation is now the largest microfinance institution in Pakistan, which has distributed 4.8 million interest-free loans worth $900 million to help approximately three million families.
Ever since it was founded in 2001, Akhuwat has used places of worship for loan disbursements and promoted volunteerism among staff and clients to transform borrowers into donors.
Prime Minister, Imran Khan also lauded the philanthropist for his efforts saying he’s proud to have people like him in the country who are upholding the practices of Riyasat-e-Madina.
The Ramon Magsaysay Award is named after a Filipino president, who was killed in a plane crash. It was established in 1957 to honor people and groups tackling development problems.
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