Pakistani microfinance pioneer nominated for Nobel Peace Prize

Dr Amjad Saqib, a Pakistani philanthropist and founding father of the nation’s largest interest-free microfinance programme Akhuwat, has been nominated for the Nobel Peace Prize for his humanitarian work in poverty alleviation.

As many as 343 candidates from around the globe have been nominated for the Nobel Peace Prize for 2022 – 251 people and 92 organisations.

“My companies are past such awards and they’re purely for the sake of Allah,” Akhuwat Basis Chairman Dr Amjad informed The Specific Tribune.

Dr Amjad mentioned no individual can nominate himself for the Nobel Prize and there’s no lobbying concerned in the whole course of.

“An official of a international nation might need beneficial my title for the award as individuals the world over are aware of my companies for humanity… however I’m not conscious of any such growth,” he mentioned whereas responding to a query {that a} minister of Malta beneficial his title for the celebrated award.

Additionally learn: Pakistani microfinance pioneer wins Asia’s ‘Nobel Prize’

Dr Amjad, was one in all 5 recipients of the Ramon Magsaysay Award — named after a Filipino president killed in a aircraft crash — for his “first-of-its-kind” interest- and collateral-free microfinance programme that has helped thousands and thousands of poor households.

Almost twenty years after its launch, Akhuwat has grown into the nation’s largest microfinance establishment, distributing the equal of $900 million and boasting an nearly 100 per cent mortgage reimbursement fee.

Dr Amjad, who makes use of locations of worship handy out cash, was cited for “his inspiring perception that human goodness and solidarity will discover methods to eradicate poverty.”

Having graduated from King Edward Medical College, Dr Amjad began his profession by becoming a member of the esteemed civil service of Pakistan in 1985.

He served at varied high-level authorities positions together with Punjab Rural Assist Programme (PRSP), a rural growth and microfinance initiative by authorities of Punjab for seven years. The programme aimed toward social mobilisation, group organisation and provision of monetary entry to the poor.

Additionally learn: Pakistani volunteer luggage Commonwealth award for serving to the underprivileged

Concluding that another methodology is required to cater to the wants of the poor, he determined to resign from the civil service and dedicate his life to the mission of making a poverty-free society by founding Akhuwat.

Dr Amjad resigned from Civil Service in 2003 and based Akhuwat the identical 12 months. He has been its CEO and most important driving power since starting. With seventeen years of profitable operations, Akhuwat now presents a viable mannequin of Shariah-compliant microfinance, which is each sustainable and replicable. Moreover Akhuwat, the philanthropist is voluntarily serving many civil society organisations within the realm of schooling, well being, incapacity, banking and finance.

The Nobel Peace Prize is awarded on the day of Alfred Nobel’s dying, the tenth of December, a time-honoured custom since 1901.