Akhuwat Islamic microfinance (AIM) A company set up under “Section 42 of the Companies Ordinance 1984” with the objective of providing interest-free microfinance to the impoverished and underprivileged members of the society so as to enhance their standards of living and enable them to improve their livelihoods. Drawing on the principles of social justice and brotherhood, AIM strives to alleviate poverty by creating a system based on mutual support in society.
AIM has adopted microfinance as its operational strategy with the loans being offered in accordance with the Islamic finance doctrine of Qarz-e-Hasan (interest-free loans). The organization operates through religious places and seeks to inspire and harness the spirit of volunteerism in society. The interest-free microfinance, although remaining the core program of AIM, is recognized as a means to an end rather than an end in itself.
Hence, over the years, AIM has developed various support mechanisms to cater to the diverse needs of the poor and implemented a more holistic approach to poverty alleviation. The particular focus has been on education services as AIM considers access to quality education crucial to promoting welfare and laying down the foundations of poverty-free society.
These are the partnerships between Akhuwat Islamic Microfinance (AIM) and local organizations and philanthropist. In which local org. provides funds and operational cost while AIM manages all operations.