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- [Infograph] 8 Tips to be a Financially Sound Muslim! - April 5, 2018
“Ihsaas Trust” – Working Towards Financial Empowerment
“Hiba” spoke to “Ihsaas Trust” – an organization that strives to financially empower the underprivileged by guiding them towards self-sufficiency.
Every human being wants to be self-sufficient, relying only on the Creator. However, to a very large population segment of Pakistan, such independence is a faraway dream. Due to extreme financial hardship, multiple debts and an ever-deteriorating economy, many people are never able to pull themselves out of the poverty quagmire. This is why “Ihsaas Trust” was formed.
The word ‘Ihsaas’ means ‘to feel or be sensitive to what others are feeling.’ This realization is precisely what brought together the founders of “Ihsaas Trust”. However, the philosophy of the trust extends beyond just compassion for the fellow underprivileged brothers and sisters; their ultimate goal is to go a step further and financially empower them, so they can become self-sufficient in providing for themselves and their families. Or, as “Ihsaas Trust” puts it: “Give a man a fish, you feed him for a day; teach a man to fish, you feed him for a lifetime.”
“Ihsaas Trust” was established in 2008. Prior to 2011, it operated under the name of “Little Deeds”, which was originally started by Tayyab Abid. Later, he was joined by four likeminded brothers, who together formed the founding trustees of “Ihsaas Trust”. Brother Tayyab is the managing trustee and carries out his work in collaboration with the management team of trustees and three full-time employees.
The trustees are brothers, who want to take active steps towards pleasing their Creator and work for the betterment of their brothers and sisters. However, what makes their mission unique is the realization that helping the creation must be done in accordance with the laws of Allah (swt), to Whom they will ultimately be answerable. Thus, all “Ihsaas Trsut” services are in line with the Shariah.
“Ihsaas Trust” provides the following Shariah compliant financial relief services:
· Murabaha (Sale at a Profit)
Through Murabaha services, “Ihsaas” purchases a piece of property or equipment on behalf of the beneficiary and then sells the same to them in instalments over an agreed upon period. The beneficiary is able to use the property for income generation, while paying off the instalments. “Ihsaas” maintains the ownership of the property, until the completion of payments, whereby the ownership gets transferred to the beneficiary’s name.
· Ijarah (Rental Services)
Through Ijarah services, “Ihsaas” acquires a piece of property/ equipment and then rents it out to the beneficiary, who can utilize it for income generation. Ijarah services may also be modified to a lease-to-purchase contract, so that by the end of the contract the beneficiary actually owns the property.
· Zakah Collection and Disbursement
“Ihsaas” collects Zakah and utilizes it for helping Muslims in debt pay off their loans.
· Musharakah (Partnership)
Through Musharakah programme, “Ihsaas” enters into a business partnership with the beneficiary and agrees to invest in a business venture, where both parties mutually share in any resulting profit or loss.
“Ihsaas Trust” is a completely non-profit initiative. Although the goal of the trust is to become self-sufficient, at present they depend on donations from concerned and active brothers and sisters. Thus, they are constantly on the lookout for donations towards their monthly expenses and the microfinance funding. In order to avoid dependency on a few larger contributors only, their goal is to target as many people as possible, who could give small but consistent contributions towards a good cause. As the Messenger of Allah (sa) said: “The most beloved deed to Allah’s (swt) is the most regular and constant, even though it were little.” (Bukhari)
Suite 1, 55-C, Main Khayaban-e-Sehar, Phase 6, DHA, Karachi
Tel: (+92) 21 3584 6059
Mob: (+92) 321 244 7198
Website: http://ihsaas.pk/ (Please, visit the website for information about donation options.)
To be placed in a box:
My name is Mohammd Akram. I am an oil trader from Korangi area. I contacted “Ihsaas Trust” to improve my business through more investment. “Ihsaas Trust” sold us goods worth Rs. 80,000, which helped me in expanding my business. My suggestion is to expand “Ihsaas Trust”, so that more people can benefit from it.
My name is Naweed Ahmed. I have a motor wiring and electric business in Manzoor Colony. “Ihsaas Trust” sold me electric goods on easy installments. If before my business was very slow because of lack of investment, then now, Alhumdulillah, I am doing good. My suggestion is for “Ihsaas Trust” to have offices in every part of the city, so that more people can benefit from it.
Since its inception, “Ihsaas Trust” has helped over 1,500 persons in different ways (Zakah, microfinance, Qard-e-Hasna and verification support).