ACCA (the Association of Chartered Certified Accountants) and Akhuwat have signed a Memorandum of Understanding (MoU) which will help micro-entrepreneurs in the country to get access to professional support and develop financial literacy.
Both the organisations have agreed to work closely on improving the financial literacy among micro-entrepreneurs who take interest-free loans from Akhuwat to help them with their business success and sustainability. ACCA will allow micro enterprises across the country to benefit from the world-class knowledge and rich experience of their highly sought-after qualified professional accountants free of cost to help small businesses to grow faster and generate greater opportunities for the economy.
Speaking at the MoU signing ceremony in Lahore, head of ACCA Pakistan, Sajjeed Aslam said,
“In Pakistan, ACCA and its members are working to drive financial literacy at the bottom of the pyramid. We feel it’s important to empower micro enterprises with basic tools that will make them embrace it, so that they don’t wake up one day and say “my money is missing”. The accountancy profession is doing great things in the corporate sector but we also need to do more for people who don’t have the resources but have big dreams.”
“This initiative will have a huge impact on our economy. Both ACCA and Akhuwat are committed to end poverty in the country and put our economy on a road to prosperity.”
Akhuwat’s Founder, Dr Amjad Saqib also spoke at the event. He said,
“Our mission is twofold. Akhuwat is world’s largest interest free microfinance organisation that does not only encompass around empowering the unprivileged by giving them interest free loans but we also are striving to gauge the other needs of our community members and serve them accordingly. We’re very excited to join forces with world’s leading body for professional accountants and our partnership will help us do more for the country and its people.”
It was also agreed that ACCA will help the students studying at the educational institutes run by Akhuwat to build a rewarding career in accounting and finance and support them in their educational and career journeys.
Previously, Akhuwat was also awarded the ACCA Approved Employer status in recognition of the support it provides to ACCA trainees working towards the ACCA Qualification.
With more than 219,000 fully qualified members and 527,000 students worldwide, ACCA is the leading global body for professional accountants which uses its unrivalled connections across the world to connect people with fulfilling careers, organisations with the best finance talent, and economies with the ingredients for growth.
Akhuwat is a non-governmental organisation, compassionately working on improving the lives of the underprivileged; those who are financially abused, abandoned and disregarded by the society. Akhuwat is supporting over 4 million households through interest free small loans currently touching Rs100 billion and is also active in the education sector.