User:Akhuwat USA
Akhuwat USA | A Nonprofit Organization[edit]
[edit]Akhuwat USA is a 501(c)(3) non-profit organization [2] headquartered in Torrance, California. Established in 2011, Akhuwat USA works to reduce poverty through interest-free microloans, capacity building, and social guidance. It is affiliated with and supports AKHUWAT, which was founded in 2001 with US $100 and today has expanded to include over 750 branches in 350 cities of Pakistan, a UK branch, a microloan portfolio of over US $110m active loans, and a recovery rate of 99.97%. Akhuwat’s unique model is being taught as a case study at a US and a UK university.
About Akhuwat[edit]
[edit]Akhuwat provides collateral and interest-free loans to help underprivileged members of society. With one of the highest loan return rates in the world, Akhuwat continues to transform lives one loan at a time. Akhuwat is registered in the US as a nonprofit under section 501 (C) (3) of the Internal Revenue Code , which entitles donors for tax write-offs on their donations.
Vision[edit]
[edit]A poverty-free society built on the principles of compassion and equality. To alleviate poverty and empower socially and economically marginalized families through interest-free micro-finance and by harnessing entrepreneurial potential, capacity building and social guidance.
Guiding Principle[edit]
[edit]Akhuwat provides the economically poor with interest-free loans so that they may acquire a self-sustaining livelihood. It also provides the skills, professional guidance and support they need to actualize their full potential and abilities.
Purpose[edit]
[edit]The funds collected for Akhuwat USA are used solely for the purpose of disbursing interest-free loans to the unprivileged community in Pakistan. One of Akhuwat’s primary deviations from conventional microfinance is that it charges no interest rates. Akhuwat has sought to base its movement on the principles of Qarz-e-Hassn found in the Islamic tradition, which entails helping someone in need with interest-free loans, a practice favored over charity and doles. While drawing on the tradition of Qarz-e-Hassn, Akhuwat has, over time, grown to incorporate many of the lessons learned from conventional microfinance movements from across the globe, as well.
Flood Relief 2022[edit]
[edit]Akhuwat is working in Pakistan to help those affected by the recent floods.
Contact[edit]
[edit]21250 Hawthorne Blvd, suite 500. Torrance, CA 90503
Phone No: (310) 961-4740 | email: contact@akhuwat.org
EIN: 452509939