At Akhuwat, we fight loan sharks who prey on poor families through our Liberation Loans. With them, we wipe out the debt a family owes to the moneylenders. We pay off the total balance in one lump sum, including interest to settle the debt completely. The stress that the borrowers carry worrying about how they will pay off this loan is immediately relieved. The loan shark is removed from their lives and they are freed from the burden of never-ending interest payments. To date, we have helped thousands of people by granting them loans of between PKR10,000 to PKR100,000.
The monthly repayment amount is fixed and repaid within a fixed period (maximum 3 years), so borrowers know there is an end to the debt. This makes a huge difference as borrowers can plan and budget for the repayments, knowing that the loan will be repaid within a short period. Once the loan is repaid to Akhuwat, the monies that loan recipients were paying as instalments can be used for other household expenses or to invest in anything else their families may need. This gives them the freedom to start making a better life for themselves and a better future for their children. Most importantly, they are no longer at the mercy of unscrupulous moneylenders.