On Monday, April 16, Dr. Amjad Saqib, Founder and Executive Director of Akhuwat, a microfinance organization, will present a lecture on Poverty and Microfinance and its implementation, with special regards to the unique model of his interest-free microfinance organization.
Akhuwat is an organization with the mission to alleviate poverty by empowering socially and economically marginalized families through interest free microfinance and by harnessing entrepreneurial potential, capacity building and social guidance. Akhuwat levies no interest on its loans with the phenomenal recovery rate of 98 percent, and seeks to inspire and harness the spirit of volunteerism in society.
"We all know, talk, and complain about the problems we see around us, this is the time we start to focus on the solution and act," said Senior Class President Warda Khan, who started her own microfinance project with the help of Akhuwat in December. "Microfinance is a solution to the monster of poverty, and promotes leadership in service. It's imperative that the Manhattanville students are well-informed because we are the leaders of tomorrow."
The lecture, sponsored by the Department of Economics, Finance and Management, Center for Career Development and Duchesne Center Global Citizenship Program, will take place in the East Library of Reid Hall at 5:30 p.m.
Microfinance is the general term used to describe financial services provided to low-income individuals or to those who do not have access to typical banking services. Microfinance is also the idea that low-income individuals are capable of lifting themselves out of poverty if given access to financial services.
Dr. Saqib has been providing consultancy services to Asian Development Bank, International Labor Organization, UNICEF, World Bank, and Canadian International Development Agency, in addition to rendering philanthropic and social services since 2003. His areas of expertise include poverty alleviation, microfinance, social mobilization and education management. His lecture will include inspiring true stories about people his organization has helped with.