Abu Dhabi Islamic Bank and Thomson Reuters bestow their prestigious Life Time Achievement Award on Dr. Amjad Saqib

Lahore: Dr. Amjad Saqib’s immense contribution in social sector entrepreneurship and Sharia-compliant microfinance were acknowledged by Abu Dhabi Islamic Bank and Thomson Reuters bestowing their prestigious Life Time Achievement Award upon him for the Ethical Finance Innovation Challenge Award (EFICA) held in Dubai on October 29.

Dr. Amjad Saqib, the founding chairman and executive director of Akhuwat, is the progenitor of one-of-a-kind Sharia-compliant ‘No Interest Microfinance’ that has rescued around 700,000 families across Pakistan from abject poverty, changing their lives for the better over nearly the last one decade and a half.

The Life Time Achievement Award carried $25,000 in prize money, which Dr. Amjad Saqib promptly donated to Akhuwat.

As Dr. Amjad Saqib received the award, 400 high-caliber experts in finance, microfinance and Islamic finance from all over the world broke in resounding applause in a standing ovation. Also present on the occasion was top tier management of Abu Dhabi Islamic Bank as well as Thomson Reuters.

For the audience, on display was a video presentation and documentary highlighting Akhuwat’s pioneering work in the field.

Dr. Amjad Saqib made a moving speech, outlining the role and spirit of the founding board members, the initial borrowers’ commitment and integrity towards improving their lives by the dint of sheer hard work, Akhuwat’s sincere and relentless workers and volunteers, and above all its generous donors.

“The category for which I have been nominated – Ethical Finance: Innovation Challenge and Awards – is in itself an acknowledgement and recognition of not just my work but the triumph of Akhuwat’s concept, message, method and profound impact as an instrument of societal change,” said Dr. Amjad Saqib.

Narrating the story of Akhuwat, he spoke of its phenomenal growth and near hundred percent rate of recovery.

To the topnotch audience, this aspect alone was a living proof and testimony of the integrity and credit-worthiness of the Pakistani people.

The philanthropic spirit of the well-to-do and the significant support of the provincial and federal governments once Akhuwat had earned its spurs and proven its credentials also received applause and appreciation.

Akhuwat was not only able to broaden the base of its supporters and donors, but the crowning glory of the evening was delegates from other Muslim nations paying the ultimate accolade by expressing the intent to replicate this unique model of brotherhood and self-reliance in their own respective countries.