methodology final
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“To bring social change
through poverty alleviation
by improving productivity
and capacity of clients
and staff ”3First Islamic Microfinance in Pakistan
Empowering the poor through
innovative products and diverse
business opportunities, by
integrating social performance
focused microfinance with
collaborative community health and
education partnerships.4
Step-2 Murabaha
Off
er f
or
Mem
ber
ship
th
rou
gh M
ura
bah
a
6
Our Target Household
Intend to do
Membership done via Female
Req
uest fo
r Mem
bersh
ip th
rou
gh M
urab
aha
Step-1 Takaful
HouseholdBusiness
7
Member
Business Education
Household
Step-3
BusinessBusiness
Profit generated from Business
Meet Business Expanses
Meet Household Expanses
Reinvestment in Business
Installment of Farz Committee
8
Farz Committee Pool
FF Provides facility to client (See Farz Committee)
Member
Household
BusinessBusiness
Profit generated from Business
Installment of Farz Committee
Mem
ber gives
installm
en
t to FF
9
Committee Pool and
total Collection= PKR:
2,20010 Members of
Community from
One Cluster
Farz Foundation
as 1 Member
Share PKR:200
In Committee
Pool
Committee Group
Member
From every 3rd to
11th,member gets the
total collection2,200
through a monthly lucky
Draw . (1st and 2nd
collection go to FF &
group organizer)
10
Members
get PKR:
2,440
after one
Year or
Monthly
PKR:20
Investment Pool of Farz Foundation
(FF & Community are partners in MURABAHA
Business)
Members
do
partnership
with FF
PK
R: 2
,200 +
220 in
one ye
ar
Committee Pool and
Total Collection= PKR:
2,200
To meet immediate Needs
Build asset
Reinvest in Core Business
FF generates other source of Income
for their Client
Committee Group
Member
Option
PK
R: 2
,20
0
12
Household
Future Protection Program
FF gives awarness to clients about their children’s education through “Children Education Awareness Program”
TARGET MARKET
Business & Environmental
education
Health
Financial Service
14First Islamic Microfinance in Pakistan
Non-Poor
Poor
Moderately
Poor
Poorest
of the poor
• Large Murabaha + Takaful + Committee (participatory saving) +Health Care Awareness +Business & Environmental Education
• Medium Murabaha +Takaful + Committee participatory saving) +Health Care Awareness +Business & Environmental Education
• Small Murabaha + Takaful + Committee (participatory saving) +Health Care Awareness +Business & Environmental Education
• Zakah or charity in kind or in shape of income generating tools) +Health Care Awareness +Business & Environmental Education
16First Islamic Microfinance in Pakistan
Product Trade Size
Murabaha (Small) PKR: 5,000 to 30,000
Murabaha (Medium) PKR: 31,000 to 80,000
Murabaha (Large) PKR: 81,000 to 150,000
First Islamic Microfinance in Pakistan 17
Product Target
Murabaha (Small) 1,080 Clients
Murabaha (Medium) 180 Client
Murabaha (Large) 0
First Islamic Microfinance in Pakistan 18
190
200
400
600
800
1000
1200
1st year 2nd year 3rd year 4th year 5th year 6th year 7th year 8th year 9th year 10th year
1080
734
499
340
231
157
107
7349
34
180
468
553536
473
396
319
251
194
148
0
58
207
384
556
707
834
936
1017
1079
Murabaha Small
Murabaha Medium
Murabaha Large
To allocate the Area for Social Center (Branch) To allocate the Potential working areas for social center Product need assessment. Potential businesses. Cash flow of different businesses. Size of micro trade.
20First Islamic Microfinance in Pakistan
Add for staff hiring in local News paper. Collection of CVs as per given date. Short listing of CVs and finalize prospective
Candidates for interview. Sending calling letters to all selected interviewees. Conduct 1st interview
21First Islamic Microfinance in Pakistan
To deliver the orientation of FARZ FOUNDATION to final candidates for jobs.
To deliver three days Step-in-Training to all Selected staff.(In house) Islamic banking & finance . Conventional microfinance Farz Methodology Basic Selection criteria of FARZ FOUNDATION Area survey Effective Mobilization skills Clients appraisal training Cluster formation steps Conduct of community meetings Customer relationship management Social performance management Delinquency management Monitoring 22
Three days on the job training to the staff. Basic Selection criteria of FARZ FOUNDATION Area survey Effective Mobilization skills Clients appraisal training Cluster formation steps Conduct of community meetings Customer relationship management Social performance management Monitoring Islamic banking & finance . Conventional microfinance Farz Methodology
Interview and selection for one month internship Selection for 11 month on a contract. After 11 month, contract extension / permanent
employee. 23
Social Manager
SO
Small Murabaha
SO
Small Murabaha
SO
Small Murabaha
SO
Medium Murabaha
Accountant
Office Boy
25First Islamic Microfinance in Pakistan
Cluster Manager
Group Leader
Member
Member
Member
Member
Group Leader
Member
Member
Member
Member
Group Leader
Member
Member
Member
Member
26First Islamic Microfinance in Pakistan
27First Islamic Microfinance in Pakistan
Step 1• MOBILIZATION
Step 2• COMMUNITY MEETING CONDUCTED BY SOCIAL OFFICER (SO)
Step 3• TO FINALIZE THE CLUSTER MANAGER AND GROUP LEADERS
Step 4• HOME SCREENING
Step 5• BUSINESS SCREENING
Step 6• FINAL FORMATION MEETING
Step 7• SALE AGREEMENT AND DELIVERY OF ASSET & STOCK
Identification of potential clients within above mention target market.
Identification of the potential businesses.
28First Islamic Microfinance in Pakistan
What is the eligibility criteria for taking our product Systems and procedures for taking our product. Your and our responsibilities for managing social
performance at cluster level. Introduction of program.
30First Islamic Microfinance in Pakistan
Verification of Client’s according to the member selection Criteria
Information Collection (Home Related)
31First Islamic Microfinance in Pakistan
Verification of Client’s Business according to the member selection Criteria
Financial Analysis Repayment Capacity Business Information Collection
36First Islamic Microfinance in Pakistan
Briefing to the Clients about Sale, purchase, price, cost, profit, sale agreement, System, Procedures and repayments Schedule
41First Islamic Microfinance in Pakistan
Selection of standardize Venders/Whole Sellers To Purchasing of Asset / Stock as per demand of
Client’s Business
44First Islamic Microfinance in Pakistan
Daily, weekly, monthly, quarterly and six monthly reports system.
Field visits of bottom to top Management. Fortnightly Meetings with 100% Clients. Social Performance Management.
50First Islamic Microfinance in Pakistan
54First Islamic Microfinance in Pakistan
Heads Features
Committee Size Min= PKR:100 and Max=unlimited
Period of Committee Cycle 11 Month
Participants of Committee in Each Group 10 Members + 1 Farz Foundation=11
Number of Committee Groups under
One Cluster
Min=1 and Max=3
Frequency of Committee Installment Fortnightly
Frequency of Committee Draw
(lucky draw)
Every Month
First Islamic Microfinance in Pakistan 56
Committee Pool and
Total Collection= PKR:
2,20010 Members of
Community from
One Cluster
Farz Foundation
as a Member
Share PKR:200
In Committee
Pool
Farz Foundation as
Committee Manager
(FF)
1st Total
Collection of
Committee Pool
goes to Farz
Foundation
1st Month of Committee
First Islamic Microfinance in Pakistan 57
Members
become
partner of
FF
PK
R: 2
,200
PK
R: 2
,200 +
220 in
one ye
ar
Committee Pool and
Total Collection= PKR:
2,200
Members
get PKR:
2,440
after one
Year or
Monthly
PKR:20
10 Members of
Community from
One Cluster
Farz Foundation
as 1 Member
Share PKR:200
In Committee
Pool
Committee Group
Organizer
2nd month Total
Collection of Committee
Pool goes to Committee
Group Organizer
Investment Pool of Farz Foundation
(FF & Community are partner in MURABAHA Business)
2nd Month of Committee
First Islamic Microfinance in Pakistan 58
Members
get PKR:
2,440
after one
Year or
Monthly
PKR:20
Investment Pool of Farz Foundation
(FF & Community are partner in MURABAHA Business)
Members
do
partnershi
p with FF
PK
R: 2
,200
PK
R: 2
,200 +
220 in
one ye
ar
Committee Pool and
Total Collection= PKR:
2,20010 Members of
Community from
One Cluster
Farz Foundation
as 1 Member
Share PKR:200
In Committee
Pool
Committee Group
Member
3rd to 11th, every month
Total Collection of
Committee Pool goes to
Committee Members
through Lucky Draw
3rd to 11th Month of Committee
660
50
100
150
200
250
300
350
1st Year 2nd Year 3rd Year 4th Year 5th Year 6th Year 7th Year 8th Year 9th Year
346
235
160
109
74
50
34
2316
58
150
177172
151
127
102
80
62
Trained for Murabaha Medium
Trained for Murabaha Larg
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