BISP champions Islamic financing initiative

Islamabad: Dr Muhammad Amjad Saqib, the chairperson of Benazir Income Support Programme (BISP), is at the forefront of advancing Islamic financing principles and empowering marginalised communities. In a recent address at the International Conference on "Advancing Islamic Finance," he emphasized the importance of seeking guidance from the Holy Quran to establish Islamic financial principles.

Dr. Saqib's visionary leadership extends to the exceptional work being done by BISP, which provides financial assistance to 9.3 million deserving families through programs like Benazir Kafaalat, Benazir Taleemi Wazaif, and Benazir Nashonuma. These initiatives address critical issues such as poverty, education, and maternal and child health.

Furthermore, Dr. Saqib's foundation, Akuwat, stands as a remarkable embodiment of interest-free loans, brotherhood, and respite. Akuwat has provided interest-free loans totaling Rs210 billion to over 4 million families, with an astounding loan recovery rate of 99.9%.

Dr. Saqib's call for adopting Islamic principles in economic systems is a call for a holistic transformation, one that aligns with the teachings of the Quran and Sunnah. He passionately advocates that interest is prohibited in Islam, and Islamic Financing should encompass everything except interest-based loans. This approach is not a burden on the dignity of recipients but a means to empower them.

Dr. Muhammad Amjad Saqib's commitment to ethical principles and the equitable distribution of resources makes him a leading figure in the world of Islamic finance and social empowerment. His vision resonates with the teachings of Islam and underscores the importance of working towards achieving Sustainable Development Goals in line with these principles.