Farz Foundation Flood Relief Program

A BRIEF INTRODUCTION OF FARZ FOUNDATION

The Farz Foundation is a social performance based poverty alleviation organization with a unique and innovative Islamic Microfinance model and business design according to the rules of shariah. It is the organization which has been formed on an ideological foundation with the notion of “partnership with the poor and profit and loss sharing” as its prior investment methodology. The asset based Islamic Microfinance integrated approach is the basic tool of the foundation to get long term sustainability, because the Farz Foundation has a strong belief that the sustainability of the client is the sustainability of the organization. Farz foundation has also convicted to bring social change with poverty alleviation. MURABAHA (Islamic mode of sale and purchase) is the core product of Farz Foundation and FF is operational with this product under the Shariah compliance from 1 Jan,2010. As for as  marginalized poor and destitute are concerning, Farz Foundation provides them “PRODUCTIVE ZAKAH” (donation) and “QARZ-E-HASNA” (interest free loan) to start their businesses after giving them the basic business training and providing them market linkages to make them able to Zakah payer but not Zakah receiver. HEALTH AWARENESS, BUSINESS Education and FARZ COMMITEE are the nonfinancial products of the institution.

 
FARZ FOUNDATION METHODOLOGY
 
FARZ IN MOTION - FARZ VIDEOS
 
Latest News
Farz Foundation To Build SME Village For 100 Productive & Skilled Families
The Farz foundation's efforts to help the flood victims continue and its member advisory Faisal khan Jabboana is leading the relief and rescue work. Alongside the provision of foodstuff, the foundation is also providing direly needed medicine as there is a danger of disease out break in the affected areas.
Farz Foundation Awarded Shariah Certificate
Lahore, Pakistan: Mufti Iftikhar Baig, Advisor Albarka Islamic Bank and Mufti Mahmood, Head of Online Fatawa Program, Jamia Ashrafia Pakistan have awarded Shariah Compliance Certificate to the Farz Foundation. After auditing product and methodology, the above-mention Shariah scholars awarded the certificate.
Farz Foundation Introduces
a New Product
Farz Foundation has developed a market driven, need based and innovative Product, having very deep cultural roots. The product is known as Committee (Rotating savings) in Pakistan. The people usually build their assets by this rotating saving activity at a street or a market level informally and without any proper book keeping. How ever Farz Foundation not only makes it formal but uses as other source of income by providing the service of investment in Murabaha as a partner.
Farz Foundation and Akhuwat signed MOU to work jointly on Islamic microfinance

Lahore based Farz Foundation and Akhuwat, microfinance organizations provide services on the principles of Islamic microfinance have signed a MOU for the provision of Sharia compliant Islamic microfinance facilities in Lahore. Akhuwat will provide initial fund as Qarz e Hasna (Without charging any profit or markup) and Farz Foundation for its Sharia compliant microfinance product Murabaha. 

Farz Foundation & Pak-Qatar Family Takaful reach life-saving accord
Farz Foundation has reached an accord with Pak-Qatar Family Takaful (Ltd) to provide life insurance, offering cover against risk to life.
According to Farz Foundation CEO Farhat Abbas Shah, the Pak-Qatar Family Takaful has made this type of agreement at the microfinance level for the first time.
Articles
Future of microfinance
in Pakistan
By Farhat Abbas Shah
Recent floods in Pakistan have further plunged the already reeling economy. The estimation of the total damage will take some time but the need to microfinance the victims are dire as the failure in this sector can create a famine in not too distant a future.
The Methodologies and Products of Microfinance both need refinement
By Farhat Abbas Shah

If a product could not provide the solution to the purchaser against the price, how long it can stay in the market? No doubt the products of microfinance were need based, however they could not fulfill the actual objective of poverty alleviation as per the expectation. Although the cash based products fulfill the immediate need of the clients, but they cannot find the real solution to poverty.

Reinventing microfinance
in Pakistan
By Farhat Abbas Shah
Poverty certainly emerged as the single most problem that lies at the heart of modern day crisis. It quite recently has assumed alarming proportions.
Rejoinder to Ruth David’s piece on Microfinance
By Farhat Abbas Shah
Like any other sector microfinance is also going through difficult times. Ruth David in one of her articles ‘Worrying Signs in India’s Microfinance Boom’ published in Business week reveals, on 17th of June 2010.
Farz Methodology: Making it big through scarce means
By Farhat Abbas Shah
Achieving financial goals in such trying times is no mean business. Farz Foundation took up the task of fighting poverty when the microfinance world was giving in to one of the most unique and deep sustainability crisis. Much to our amazement, the initial outcome was quite encouraging.
Need of the day:    
bridging development and microfinance
By Farhat Abbas Shah
Results are always the best yardstick to measure the affectivity of any endeavor. It is not a matter of blame game or trading charges. To fight poverty all over the world requires stock taking of all the efforts made so far.
REVITALIZING MICROFINANCE
By Farhat Abbas Shah
The greatest dilemma of the twenty first century is translation of growth rates into the welfare of common man. For example India is considered to be a healthier economy even during this one of the deepest recession in history.
A word on CGAP’s Report
By Farhat Abbas Shah
We all know a success has many fathers and failure remains orphan. Crisis does come, and when they come, the best strategy always is to identify the factors contributing to it so that the past mistakes are not repeated, and the best remedies could be offered.
New partnerships in microfinance
By Farhat Abbas Shah
Despite colossal efforts, the poverty has emerged as the single most problem in the contemporary world. Microfinance has been one of the major tools to fight it, but it still needs restructuring, particularly, in the wake of the worst recessions in the history of prevalent economic structures. This situation also requires us once again to look at all the efforts done thus far and to achieve the noble goal of reducing poverty to the possible extent.
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