Islamic Microfinance is flourishing in Pakistan. The organizations committed to alleviating poverty find Islamic Microfinance the best tool to achieve this goal.
On 20th July 2011 in Multan, The NGO World, with prime focuses on community development, capacity building, and relief & rehabilitation sectors, steps in poverty alleviation grounds through Islamic Microfinance by replicating Farz Foundation Methodology.
The NGO World is operating in five districts of South Punjab, while Farz Foundation is the first Shariah certified Islamic Microfinance Institute among the pioneers of Islamic Microfinance organizations in the world with its own social performance based Methodology and is engaged in Islamic Microfinance plus activities with capacity building, institutional development, social welfare, Zakat distribution to the poor in productive manners and handholding of micro and small enterprises with Shariah-compliant finance products.
Both the organizations signed an accord here in District Multan at the head office of The NGO World. Under this agreement, both the parties intend to find ways and means to establish linkages and extend cooperation in the matters pertaining to areas of mutual interests.
The NGO World intends to replicate Islamic Microfinance Farz Methodology to support the poor for their livelihoods and capacity building with the provision of health and business awareness services along with other community development and rehabilitation operations simultaneously with its ongoing projects.