KARACHI: BankIslami has signed an agreement with Akhuwat Foundation, an interest free microfinance NGO.
Under the agreement, BankIslami would provide cash management solutions to Akhuwat for the distribution of Qarz-e-Hasna Scheme (Interest Free Loans), said a statement.
Loan disbursement would take place through BankIslami’s nationwide network of 317 branches. Akhuwat is known for running the world’s largest interest free microfinance NGO network with over 500 camp offices nationwide.
Agreement was signed by Hasan A Bilgrami, CEO, BankIslami, and Dr Muhammad Amjad Saqib, Executive Director, Akhuwat.
Bilgrami said, “Alliance with Akhuwat will go a long way in providing facility to the borrowers of Qarz-e-Hasna Scheme. BankIslami will also contribute its share in this noble cause of serving the under privileged segments of the society.”
Dr Saqib said, “We are proud to partner with BankIslami and we appreciate their support for Akhuwat.”
