Microfinance

Under Vision 2016 Programme the economical development of under privileged and weaker people especially the Ummah got top priority. In February 2009, a meeting of high power committee of Vision 2016 was organized in Aligarh and task force was constituted under the leadership of Mr. Arshad Ajmal, Patna to develop interest free Micro Finance system, products and interest free micro finance models. The task force succeeded in developing the desired model both Sharia compliance as well as within the terms and condition as laid by the co-operative societies acts of India.

Workshops on Microfinance
 

In order to explain and educate the practicing micro finance activists a four day national Orientation training progamme was conducted from august 1 to 4 2009 at Hyderabad. 80 Selected practitioners and NGOs from 14 States have attended the camp. The camp dealt with theory of micro finance, Islamic guidance for making its interest free, working models in India, apart from field visit in different villages of R. R. Dist in A.P where self help groups are functioning.

During the four days training camp the following topics were addressed in details:

  • Interest Free Micro Finance for marginalized people and the role of Islamic Movements
  • View of Indian Economy with special preference to poverty and economically marginalised groups
  • Co-operative acts of different State
  • Different Models of Interest Free Micro Finance
  • Self Help Group Systems
  • Road map for Interest Free Micro Finance etc

Similar workshops have been organized in Vaniyambadi, Chennai, Patna, Kolkata, Bangalore and Delhi. It has been planned to conduct such workshops in all major cities and in all states. Apart from the training exercise, 500 Microfinance institution will be established in the country under the Vision 2016 programme. Some of them are already in operation. They are in Karnataka, Kerala, Andhra Pradesh, Bihar, Maharashtra, Tamil Nadu and Delhi.

A national level dedicated NGO for Microfinance is also planned and is in establishment phase. Once established all works related to this field will be organised under its banner.

Rickshaw Distribution
 

50 Cycle Rickshaws have been distributed to the poor and needy people of Assam, Bihar, Delhi, Haryana, Rajasthan, Gujarat, Madhya Pradesh, Chattisgarh, Jharkhand and other stats of India. The project is running under the Self Employment Scheme of VISION-2016.

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