SAFCO Microfinance provides Islamic financing to 100 customers

HYDERABAD: SAFCO Microfinance Company has achieved its 1st milestone of Disbursement of 100 Customers with Shariah Compliant Financing from “YAQEEN ISLAMIC FINANCING” a Window SMCL to extend the financing services in compliance with Shariah Principles.

SMCL Yaqeen Islamic Financing is offered from its three branches in Hyderabad, Nawabshah and Shahdadpur. In recognition of this achievement, a ceremony was held at the SAFCO Head Office to award certificates of appreciation to the dedicated staff involved.

The event honoured the key staff involved in the initiative of Islamic Financing by SMCL till the achievement of its 1st milestone including the Shariah Compliance Department and team, the head of all the departments, the Operational heads and branch teams who contributed in the achievement of this. Speaking at the ceremony, SAFCO Founder and Leader, Suleman G Abro, highlighted this unique accomplishment within Pakistan’s financial institutions.

Mr. Abro stated, “SAFCO has had the honor of pioneering the provision of small, Sharia-compliant financing, setting us apart in the financial sector.

We are committed to adhering to the Sharia Court’s mandate to transition of financial sector into to Islamic principles by 2028.” SMCL has devised its strategy to expand and enhance the Shariah Compliant financing services apart from its conventional microfinance services.

He further emphasized, “Our goal is to extend Sharia-compliant financial services to those in need, ensuring they can access loans within an Islamic framework.”

Mr. Syed Sajjad Ali Shah, Managing Director of SMCL, added, “This milestone is a testament to our team’s hard work and dedication to ethical finance. We are excited to continue expanding our reach and making a positive impact on our clients’ lives through Sharia-compliant services.”

Mufti Arsalan Maqbool, Head of the Sharia Compliance Department, remarked, “Ensuring our financial products align with Islamic principles has been a rigorous process, but it is essential for the trust and integrity we aim to build with our clients. This achievement marks a significant step forward in our mission.”

Bashir Ahmed, Head of Business Operations, commented, “Reaching 100 Sharia-compliant loan clients is just the beginning. Our operations team is committed to maintaining the highest standards of service and efficiency as we continue to grow and support our clients’ financial needs.”

The ceremony saw participation from heads of all SAFCO departments, celebrating this significant milestone and reaffirming the company’s dedication to providing ethical financial solutions.

Copyright Business Recorder, 2024