HYDERABAD: Renowned religious leader and Founder Chairman of Qaim Trust Allama Syed Shehanshah Hussain Naqvi visited SAFCO Head Office Hyderabad and had dialogue on ‘Promotion of Islamic Values in Business: Economic Ethics’ and signed a memorandum of cooperation with the SAFCO management on behalf of his Al-Qaim Trust to promote mutual cooperation for professional skill development and economic growth of low income households.
The founder and CEO of SAFCO Group Suleman G. Abro and Managing Director of SAFCO Microfinance Company Syed Sajjad Ali Shah welcomed the distinguished guest and briefed about the objectives of SAFWCO Group and its multifaceted services.
In his speech, Suleman G. Abro said that in 1986, when we established SAFWCO and worked for health, education and economic improvement and access to resources, women and children’s rights for the underprivileged, narrow-minded people started putting obstacles and many problems arose, but we continued to carry out our responsibilities in accordance with the Islamic spirit, keeping in mind human values, with collective thinking, patience and tolerance. Today, our three institutions are doing social services through which millions of people have benefited.
On this occasion, Syed Sajjad Ali Shah, Managing Director of SAFCO Microfinance Company, gave detailed information about SAFWCO Group. He said that the Sindh Agricultural and Forestry Workers Coordinating Organization-SAFWCO established in 1986 has so far provided services to more than 536,600 families in various sectors including health, education and agriculture.
Established in 2009, SAFCO Support Foundation has been working to eradicate poverty by promoting women’s handicrafts, small businesses and helping farmers, providing interest-free loans of Rs12 crore to 40,000 people from the poor and is assisting the Sindh government in the construction of 257,000 houses for the flood victims in District Shaheed Benazirabad and Nowshehro Feroze.
Similarly, SAFCO Microfinance Company has provided easy loans worth Rs33 billion to more than 9 lakh families in 17 districts with a network of 67 branches, including more than 9 thousand widows, 5 lakh women and more than 40 thousand small farmers have benefited. Similarly, in 2023, the foundation of ‘Safco Yaqeen Islamic Finance’ has been established through which financial services are being provided under Islamic principles.
Copyright Business Recorder, 2024