Al-Mawakhkhat becomes Pakistan’s first registered microfinance

Al-Mawakhkhat has become Pakistan's first Islamic microfinance company to achieve recognition. In this regard, the Securities and Exchange Commission of Pakistan (SECP) has issued the formal registration certificate.

Prof. Dr. Hussain Mohi-ud-Din Qadri, the CEO of Al-Mawakhkhat Islamic Microfinance, stated that nearly two dozen microfinance companies are operating in Pakistan, among which Al-Mawakhkhat is the first to receive Islamic microfinance status from the government of Pakistan.

He said that Al-Mawakhkhat is fighting against unemployment and poverty. He said that combating poverty while preserving dignity is our sole objective. “Al-Mawakhkhat is providing affordable and easy loans, including product-based loans to skilled individuals,” he added.

Prof. Dr. Hussain Mohi-ud-Din Qadri further said that we aim to eradicate poverty and unemployment from the country by promoting education and vocational training. He said that Pakistan is currently going through one of the most critical junctures in its economic history.

“Under the Islamic impulse, Al-Mawakhkhat is actively pursuing available means to reduce poverty and increase employment opportunities,” he said.