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Methodology final

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Farhat1

The document outlines the methodology of First Islamic Microfinance in Pakistan, which aims to alleviate poverty through innovative Islamic microfinance products and community partnerships. The methodology involves a multi-step process: 1) Members take out Murabaha loans for businesses; 2) Profits are used to reinvest in businesses and meet household expenses; 3) Members make installment payments into a Farz committee pool. The pool funds are then distributed to members and used to fund more business opportunities through the Foundation. Additionally, the Foundation provides health awareness programs and supports children's education.

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1First Islamic Microfinance in Pakistan
FARZ METHODOLOGY2
VisionTo bring social change through poverty alleviation by improving productivity and capacity of clients and staff3First Islamic Microfinance in Pakistan
MissionEmpowering the poor through innovative products and diverse business opportunities, by integrating social performance focused microfinance with collaborative community health and education partnerships.4
FARZ METHODOLOGYGraphically ConceptFirst Islamic Microfinance in Pakistan5
6Step-1Intend to doOur Target HouseholdOffer for Membership through MurabahaRequest for Membership through MurabahaBusinessHouseholdMembership done via FemaleStep-2 Murabaha Step-1 Takaful
7Step-2Meet Business ExpansesBusinessHouseholdReinvestment in BusinessProfit generated from BusinessBusinessMember Meet Household ExpansesInstallment of Farz CommitteeBusiness EducationStep-3
8Step-3BusinessHouseholdProfit generated from BusinessBusinessMember Installment of Farz CommitteeMember gives installment to FFFarz Committee Pool FF Provides facility to client (See Farz Committee)
9Step-3-aProcess of Farz CommitteeFrom every 3rd to 11th,member gets the total collection2,200 through a monthly lucky Draw . (1st and 2nd collection go to FF & group organizer)Share PKR:200In Committee PoolFarz Foundation as 1 MemberCommittee Pool and total Collection= PKR: 2,200Committee Group Member10 Members of Community from One ClusterEach Member Share PKR:200 In Committee Pool
10Step-3-bProcess of Farz CommitteeCommittee Pool and Total Collection= PKR: 2,200Committee Group MemberPKR: 2,200 +220 in one yearTo meet immediate NeedsMembers get PKR: 2,440 after one Year or Monthly PKR:20Members do partnership with FF PKR: 2,200Build assetOptionReinvest in Core BusinessInvestment Poolof Farz Foundation (FF & Community are partners in MURABAHA Business)FF generates other source of Income for their Client
11Step-4Health Care AwarenessFF Provides health care awareness to clients Household
12Step-5Future Protection ProgramFF gives awarness to clients about their childrens education through Children Education Awareness Program Household
FARZ METHODOLOGYFirst Islamic Microfinance in Pakistan13
An Integrated Approach14First Islamic Microfinance in Pakistan
TARGET MARKET15First Islamic Microfinance in Pakistan
Product Packages for Each MarketLower16First Islamic Microfinance in Pakistan
MurabahaFirst Islamic Microfinance in Pakistan17
MurabahaTarget for One Social Center (Branch)First Islamic Microfinance in Pakistan18Year 1st
Clients Graduation Strategy 19
Identification of Area for OperationTo 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
Staff Hiring Add for staff hiring in local News paper.
Collection of CVs as per given date.
Short listing of CVs and finalize prospectiveCandidates for interview.Sending calling letters to all selected interviewees.
Conduct 1st interview21First Islamic Microfinance in Pakistan
Capacity Building of StaffTo 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
Monitoring22
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 Center (Branch) OpeningSocial Center Opening Ceremony
Mobilization24First Islamic Microfinance in Pakistan
Kicking of OperationsBranch StructureOffice Boy25First Islamic Microfinance in Pakistan
Cluster structure26First Islamic Microfinance in PakistanCluster Committee
Delivery Process27First Islamic Microfinance in Pakistan
MOBILIZATIONIdentification of potential clients within above mention target market.
Identification of the potential businesses. 28First Islamic Microfinance in Pakistan
29First Islamic Microfinance in Pakistan
COMMUNITY MEETING 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.

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Methodology final