Dr Amjad Saqib: Serving humanity
Founder of Akhuwat has been nominated for the Nobel Peace Prize 2022
Amidst the doom and gloom of Pakistan’s current political dynamics came the news of the nomination of Dr Amjad Saqib for the Nobel Peace Prize 2022. Dr Saqib is the founder and Executive Director of Akhuwat, the world’s largest Islamic microfinance organisation.
Pakistan, despite its new divisions of ideology and power paradigms, celebrated in unison the latest honour bestowed on Dr Saqib, a glowing manifestation of how selfless work for the betterment of humanity is its own reward, celebrated by the people with gratitude, on an individual and national level.
Dr Saqib’s microfinancing organisation is titled Akhuwat, which as he explains is derived from “Mawakhat-eMedina.” When I asked him last year what Akhuwat means for him, his answer was stunning in its simplicity, its expansiveness: “When Prophet Mohammad (PBUH) migrated to Medina from Mecca, he was accompanied by some of his relatives and friends. Most of those people belonged to affluent families, but the journey of hijra (migration) resulted in financial hardships. When they reached Medina, they required some resources to restart their lives, but they did not want to ask anyone for charity. Medina didn’t have any financial institution that they could approach for help, but there were Jewish moneylenders who gave loans charging a huge interest. Paying or taking usury was against the religious teachings of the migrants from Mecca.”
Prophet Mohammad (PBUH) presented a truly beautiful concept. He declared that one citizen of Medina, who would be called Ansar, and one Muhajir (migrant) from Mecca would form a bond.
On the basis of that bond, they would be brothers and help one another. That relationship was called ‘mawakhat’. It means bhaichara (brotherhood).
After being connected in that relationship every Ansar assisted his Muhajir brother to start a business. Because of that the Muhajirs were able to stand on their own very soon.
For Gulf News, I asked Dr Amjad Saqib a few questions:
■ Mehr Tarar: Congratulations on your nomination for the Nobel Peace Prize 2022! What was your initial response on receiving the news that you had been nominated for the most prestigious award in the world for your humanitarian work for poverty alleviation in Pakistan?
Dr Amjad Saqib: I would like to start by congratulating every citizen of Pakistan. This nomination is not just for me but the whole of Pakistan and every single person, all over the world, who believes that poverty can be eliminated. It has also given the international community an opportunity to see Pakistan in a positive light. I am grateful and humbled that we were able to do something for the underprivileged of Pakistan and bring Pakistan this honour.
However, while I am highly grateful, I would also like to add that whatever Akhuwat has done so far was never done for any worldly reward. Our sole purpose is to please our Creator, to have something to offer when we are presented before Him. I believe a kind deed is never done for any reward; it is done because of its inherent good. Thus, whatever we do is our moral duty. This is what primarily differentiates a man from a human being.
■ Why do you think your model of micro financing for those with little or no resources has proven to be and continues to be so successful?
There are two models of microfinancing. In the first model you charge the borrower with the financial and operational costs. The second model is unique and is a revolution in the world of microfinance. This model is not an extension of the capitalistic system and market economy; it is based on the principles of brotherhood and solidarity. For example, when someone lends their brother PKR 10,000, he will ask for the same amount in return. So, we believe that we should think of our underprivileged fellow Pakistanis as our brothers and sisters. Although this model is based on the principles of Islam, it is not just limited to Islam. All the religions in the world preach the same principle: to think for others the way you would think for yourself.
Akhuwat’s success testifies to this model. We started with $100, and now we have expanded to $100 million, with a recovery rate of 99.9 per cent. Many people have had their apprehensions regarding the sustainability of our model. We believe that the principles and values of Akhuwat — brotherhood, solidarity, compassion, empathy, and sacrifice — will always exist. For as long as humanity exists, there will always be that one human being who wants to help another human being.
Akhuwat’s model is based on the philosophy of Mawakhat, interest-free lending, volunteerism, no discrimination, use of religious places as points of mediation, and transforming borrowers into donors. The first principle of Akhuwat is providing interest-free microloans, based on the belief that poverty cannot be eradicated by charging the marginalised segments of society with interest as it adds to their burden and continues the cycle of debt.
Secondly, the use of religious places is an integral part of Akhuwat’s ethos.
Akhuwat uses religious places — mosques, churches, and temples — as places for loan disbursement, thus ensuring that there is participation, transparency, and accountability. It also generates goodwill in a community and society in general.
Thirdly, Akhuwat believes in a society that is beyond the lines of caste, colour, gender, creed, politics, and faith. So essentially Akhuwat is a nonpolitical and a pro-poor organisation that provides loans to all without any discrimination of any kind.
Another policy that we have is transforming our borrowers into donors. This is important because Akhuwat strives to empower its borrowers by eventually converting the borrowers to become contributing members of society. We call it the “Reciprocity of Economy”.
Lastly, the spirit of volunteerism is a core practice in Akhuwat. Our volunteers hail from all walks of life, bringing their diversified perspectives to Akhuwat and serving as agents of change. These are the visionaries who work tirelessly to spread the message of Mawakhat.