Akhuwat Islamic Microfinance is a variety of products that provide free loans that are designed to meet the specific needs of the borrower. Akhuwat Agriculture Loan is for small farmers to fill full their Agriculture needs.
Note: Loans are offered under different products according to the availability of financial resources/funds.
Purpose of the Islamic Microfinance
Akhuwat is a non-profit organization based on the Islamic principle of moon or solidarity 2001. The concept of Makhatah is before 622 CE when the Prophet (peace and blessings of Allaah be upon him) urged the residents of Medina (Ansar) to share half of his goods with the refugees (refugees) who were forced to flee from persecution and Mecca. From Medina to Medina. Inspired by Ansar’s generosity, brotherhood believes that if a rich family embraces a lesser fortune today, inequality will be eliminated from the world.
Agriculture Loan
The loans are provided to small farmers, including landless farmers/tenants, based on an eligibility criteria for the purchase of agricultural inputs and for meeting ancillary expenses.
Features of Agriculture Loan
Amount of Loan:
Rs. 10,000 to Rs.50,000
Duration:
4 – 8months
Profit Rate:
0%
Interest Rate:
None
Initial Application fee:
None
Post Approval Application fee:
None
Mutual Support Fund Contribution:
Optional 1% of loan amount