Interview

Ethica Interviews Akhuwat, the World's First Completely Interest-Free Microfinance Program

From having started a decade ago with a simple loan of about $100, Akhuwat has been able to disperse $30 million to over 1 million people. Ethica sits down with the inspiring Dr. Muhammad Amjad Saqib to hear his amazing story and how the success of Akhuwat lies beyond these monetary statistics. It is the success of an idea, Akhuwat's founding principle - that of the essential brotherhood of man. Amid an economy founded on artificially induced scarcity and one that systemically encourages separation and competition, Akhuwat is living proof that deep down we all know that we are connected and that real value comes out of us being of help and assistance to one another. The time is now to bring forth paradigms and initiatives that challenge the interest based system and challenge Islamic finance to evolve out of its current complacency with interest-mimicking products towards products based on the foundational principles of equity, sharing, and gifting.


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