Pakistani philanthropist and originator of the country’s biggest interest-free microfinance programme Akhuwat Dr. Amjad Saqib has been nominated for the Nobel Peace Prize for his humanitarian efforts towards poverty alleviation.
For the Nobel Peace Prize for this year, 343 candidates from around the world have been nominated. This includes 251 individuals and 92 organizations.
Speaking regarding the development, Dr. Saqib said: “My services are beyond such awards and they are purely for the sake of Allah.” He added that no individual can nominate himself for the Nobel Prize and no lobbying is involved in the entire process.
He went on to say that a foreign official might have recommended him for the award as his services are well known across the globe. Dr. Saqib added that he was not aware of such a development.
He was one of five recipients of the Ramon Magsaysay Award for his groundbreaking interest- and collateral-free microfinance program.
Nearly twenty years since its launch, Akhuwat has evolved into the country’s largest microfinance institution. It has distributed the equivalent of nearly $900 million and boasts an almost 100% loan repayment rate.
He has served in various high-level government positions including the Punjab Rural Support Program (PRSP). The program is aimed at social mobilization, community organization and provision of financial access to the poor.