AFOIC lauds PM Imran Khan’s interest-free loan initiative

“We hope many other nations support this idea by making similar assistance available to their citizens”: Rateb Jneid


ISLAMABAD: Australian Federation of Islamic Councils (AFIC) has lauded Prime Minister Imran Khan over his initiative of interest-free loans for the poor.

“With the cost-of-living increasing post the pandemic, this is a great gift to give to families and businesses and it will help to strengthen economies,” President AFIC Dr. Rateb Jneid said in a statement shared on Twitter.

Rateb Jneid said over 4.5 million families would benefit from the initiative to help set up small businesses, recently announced by PM Imran Khan.

He said the interest-free loans would also help the poor to acquire homes technical education in Pakistan.

“Looking out for the poor and helping the weak and most vulnerable pockets of society is the example set by our Prophet Muhammad (PBUH) and all Prophets that came before him (AS),” he said.

At AFIC, he said, the promotion interest-free loans were in line with the organization’s core values. “We hope many other nations support this idea by making similar assistance available to their citizens,” he said. Earlier to this, Addressing the programme’s launching ceremony at Faisal Mosque in Islamabad, the premier said 4.5 million families would benefit from interest-free loans under this initiative to set up small businesses, construct homes, start farming and acquire technical education.

He added that Rs2.5bn had been disbursed by the government among the low-income groups in various welfare schemes so far, and that banks had also given loans worth Rs55bn after the government encouraged them to facilitate the common man.

The prime minister stressed the need for transforming Pakistan into a welfare state, along the lines of the state of Madinah, saying that the country was envisioned as a socio-welfare state.

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