A practitioner of development, public servant, philanthropist, and Akhuwat’s founder. Initiatives aimed at reducing poverty, social development, governance, and educational reform are among his areas of expertise.
Originally hailing from the Civil Service of Pakistan, Dr. The chairman and founder of Akhuwat, the largest interest-free microfinance program in the world, is Muhammad Amjad Saqib. In Pakistan, Akhuwat has launched Pakistan’s first fee-free “Akhuwat College University” and distributed over Rs. 309 billion to approximately 3.5 million poor families through its programs. Other initiatives include education, community development, and the inclusion of marginalized communities. Dr. In addition, Saqib serves as Chairman of the Punjab Development Network (PDN), a group of more than 160 charitable and development organizations dedicated to promoting social and economic growth. He is the executive director of Fountain House, a 500-bed facility where patients with disabilities receive treatment and rehabilitation both indoors and outdoors. He is Chairman of the Pakistan Educational Endowment Fund and Vice Chairman of the Punjab Educational Endowment Fund, both of which were recently established by the Pakistani Prime Minister. Governance, poverty alleviation, microfinance, and rural development are among his specialties. His remarkable accomplishments in restoring human dignity to Pakistan’s most vulnerable communities have earned him numerous national and international honors, including the 2018 Islamic Economy Award presented by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and Thomson Reuters. The “Ramon Magsaysay Award 2021” is commonly referred to as “Asia’s Nobel Prize.” He also received the World Economic Forum (WEF) and Schwab Foundation’s Social Entrepreneur of the Year award for 2018, as well as Queen Elizabeth II’s Commonwealth’s 31st Point of Light award in 2018. In addition, Abu Dhabi Islamic Bank and Thomson Reuters presented him with the Lifetime Achievement Award in 2014 in recognition of his efforts to promote Islamic finance. He received the Sitara-e-Imtiaz (2011) and Hilal-a-Imtiaz (2023), two of Pakistan’s most coveted civil awards, from the President of Pakistan. In December 2022, Rotary International, the most prestigious humanitarian organization, presented him with a “Lifetime Achievement Award” in recognition of his significant contribution to the advancement of humanity.
He was appointed Chairperson of the Benazir Income Support Programme by Pakistan’s President, which is one of the world’s largest social safety and welfare programs. He held this position from September 2023 to May 2024. He is the author of ten books and a well-known speaker who has given speeches at the United Nations, Harvard, Oxford, Cambridge, and numerous other prestigious institutions worldwide. He is one of the few Pakistanis for whom the “Nobel Peace Award” has been proposed.
Dr. Muhammad Amjad Speaks about Microfinance in Pakistan in an interview at Cambridge University (United Kingdom).
Akhuwat Islamic Microfinance (AIM) has been the cornerstone of our efforts since its launch in 2001. To date, it has disbursed more than PKR 230 billion in interest-free loans to 4 million families across Pakistan. Beyond microfinance, Akhuwat also works in the field of education under the umbrella of Akhuwat Education Services (AES). With a network of schools and colleges, Akhuwat ensures that children from underserved communities have access to quality education. Other projects include Akhuwat Clothes Bank (ACB), Akhuwat Khwajasira Support Program (AKSP), Akhuwat Relief and Disaster Management Program (ARDM) and Akhuwat Community Development Program. All of Akhuwat’s initiatives work with the common objective of creating a poverty-free and prosperous society.
Before establishing Akhuwat, Dr. Saqib served in the Civil Services of Pakistan in the District Management Group (DMG). He also served as the General Manager of the Punjab Rural Support Program (PRSP). He had witnessed the devastating impact of poverty which encouraged him to dedicate his life to alleviating the suffering of the poor. One of Akhuwat’s initial loans was granted to a widow from Rasool Park where she was presented with Rs. 10,000 (USD 200 at the time) in the form of an interest-free loan. She bought herself two new sewing machines with this amount, earned a decent living, sent her children to school, and married her daughters in a simple wedding ceremony. She returned after 6 months to return the loan along with a request to give this money to someone else in need.
For the first eighteen months, Akhuwat didn’t have a proper office and was managed from a small cabin within the premises of PRSP. However, Mawakhat, the spirit of solidarity, and the commitment of the Akhuwat team persevered. More than two decades later, Akhuwat has disbursed more than PKR 230+ billion and opened offices in 350+ cities in Pakistan. Akhuwat has also spread its roots to other areas of life, such as education, healthcare, community development, and post-disaster rehabilitation.
