Thursday, February 3, 2011
Economic Empowerment through Interest Free MicroFinance
Assalaamu Alaykum WaRahamatullahi WaBarakathu,
Economic Empowerment is about lifting a vulnerable community out of poverty and helping its people to achieve socio-economic empowerment within their society, their villages and their countries.
Your one time donation allows for interest free loans for the poor, the unemployed and the widows. That family uses that money to start a small business or buy a sewing machine for example that will become a source of livelihood for them. For those who are in difficult situations, these loans help them get back on their feet and become a contributing member of society. Interest-free loans have shown a repayment rate of 99.8%.
The cycle continues and it becomes a form a sadaqa–e-jariya. The best form of charity.
The natural disasters that closed out the second half of 2010 led to an increased distribution of nearly 430 active loans. This resulted in approximately $100,000 worth of loans given to more than 1300 individuals who desired a fresh start.
This past summer proved to be a rude awakening for the citizens of Pakistan as flood waters wreaked havoc and devastation throughout the nation.
Due to the Pakistan floods 1.6 million acres of crops have been destroyed. The situation in Pakistan and countless other countries is heart-wrenching however; there remains in the people a passion to change. HHRD applauds this fervor and hopes to provide the necessary means in order to ensure a stable future for these victims.
Helping Hand's future vision is to provide interest free micro financing to deserving people in order to help them set up business for their livelihood and sustainability. We have plans to extend it to at least one thousand families in the near future.
Please donate please visit www.hhrd.org/donate
Walaykum Assalaam WaRahmatullahi WaBarakatahu