Success Stories
Our Success Stories
  • Home
  • Success Stories
Mairaj Bibi: Achieving heights
16 November-2012
As a divorcee and a single parent of a young boy, Mairaj Bibi residing in Sahiwal aged 53, lived through limited resources and barely any support from her relatives. However, her drive, determination and the will to change her financial status led her to fulfill one of her many dreams of opening a small Karyana store. With no working capital, she mortgaged her jewelry to a local money lender and managed to get some money to start her business. She initiated with ten profitable product lines, as a result Mairaj Bibi was able to get quick return on her initial investment. Moreover, her polite way of speaking, regular timings, dealing in high quality items and concentrating on limited product lines resulted in high sales for the entrepreneur. A month into business, she was quite confident and financially sound to add further product lines in her small shack store. Having met some vendors, she added twenty product lines which also included a fifteen day credit system. Within three months she was able to get good returns from the business, yet a major portion of her profit was being consumed in paying interest. At that time, she was taking loans on two hundred and fifty percent interest from various sources, including family members, and a local money lender. This posed a great danger to her business. Thus, she continued searching for some reasonable source of financing for her business and her quest finally ended when she heard about Khushhalibank’s micro loans on much feasible interest rate, which she availed in no time. Now after five years in the business, she has transformed her shack store in to a well furnished one, with more than a hundred quality product lines. She has increased her daily sale from Rs. 400 to Rs. 3,000. Presently, she is running a sound and well managed Karyana store which she dreamt of a couple of years ago. She is very pleased with life and her son goes to a good school in the city. She is in high spirits and says, “A woman is not made for defeat, women can be destroyed but not defeated”. In her journey to success, she has not only won a livelihood for herself but has also become a source of inspiration for others. She has also employed one person, thereby creating employment opportunities for others in her village. She continues to weave more plans for her business. Very soon, she is going to open another small store in her village, hoping to reach the target market at their doorstep. Her circumstances, rather than breaking her down have made her a confident and self-reliant person who knows how to contribute to the society positively.
Ghulam Faiza: Transforming the dreary into a flourishing dairy
8 November-2012
Over the years, microfinance has grown in importance as it has helped several lower class individuals achieve monetary support for their entrepreneurial endeavors. The microfinance sector is considered a tool for poverty alleviation as well as empowerment of women. It has long been recognized by poverty alleviation experts that pursuing plans for increasing financial inclusion, such as encouraging microfinance, are absolutely essential to millions out of poverty in Pakistan, where over half the workforce consists of the underprivileged and the self employed. Facilities provided by Khushhalibank in Pakistan have proved highly successful for many individuals whose lives have been changed for the better. Ghulam Faiza is one such woman who has had a life altering experience since Khushhalibank transformed the way she used to earn her bread and butter. While a milkman might be a common sight in the streets of Pakistan, a milk-woman on the contrary is something rather unheard of. Being a woman it was difficult for Ghulam Faiza to collect milk and then further sell it in the market given the male dominant society she was operating in. However, she struggled to break the taboos especially after she was compelled by circumstances to fend for her family and provide them the means of sustenance. She not only managed to sell the milk of her cattle in the market but would also go out in the field to get the fodder for her cattle. To change the state of affairs and improve the productivity of her business, she relied on Khushhalibank’s Microfinance facility that has paid great dividends for her livestock business. Her monthly sales now average Rs 57,000 with the bank’s 4th loan cycle. Being the sole bread winner of the family it was no easy task to provide for nine dependants and Faiza is not only fulfilling the basic needs of her family but also providing her children with good education. She is also saving up for the dowry of her eldest daughter from her monthly earnings. She is confident that she would now be able to provide dowry for all her daughters. Along with her other prudent measures, she also utilizes dried dung of her cattle to use as fuel for cooking and energy purposes as well. She started her business with one buffalo which her husband had bought to fulfill the dairy needs of their family. But instead of relying on their lone buffalo, she also purchased milk from the market and sold it on profit. Khushhalibank’s loan has an immense positive impact on her life and she is grateful for all the support lent by the bank. With the bank’s Micro Credit facility she has been able to increase the number of cattle considerably and the volume of her business substantially. She is now a symbol of pride for the women of her locality who look up to her and try to follow the manner in which she supports her family. A number of people have contacted her for the supply of milk as a result of her honest approach. She therefore thinks that it is absolutely necessary for her to increase the volume of her business to cater for the large demand of milk supply. Ghulam Faiza also plans to hire the land for the cultivation of fodder on lease, through which she would be able to save around Rs. 30,000 per annum on fodder cost. Faiza feels pride in what she does and balances her life in a way that serves justice to all. Today she takes care of her family emotionally as well as financially and at the same time runs her business successfully. She is a great example for those women who are determined to fight against all odds and contribute not only to their families but also to the community.
Muhammad Ijaz: Tameer Microfinance Bank
25 August-2008
Mohammad Aijaz has a Bangle shop in Aagra Taj Colony. All the goods come from Hyderabad. He has been in this business for about 7 years now and handles all the work himself. It is only during the festive season of Ramazan followed by the two Eids, that he employs a temporary work force. This consists of at least 8 persons. 4 salesmen to tackle the Eid rush and 4 errand boys to do the running around. All these young men are from the neighborhood who work at his shop after college/school hours. That his shop does very good business during these periods is evident from the Rs.5-6 thousand per month salary he pays to each salesperson and Rs.5-6 hundred to each tea/errand boy. These amounts are in addition to the monies spent on their meals and transportation cost for the errands they do for his business. Mohammad Aijaz applied for a loan from Tameer as he wants to open a second shop from where he plans to sell only costume jewelry. His loan of Rs.35,000 was sanctioned without a hitch. This was a very pleasant experience for him because the loan process took such little time. However, as the sanctioned amount is not enough to cover the investment of the second shop, Mohammad Aijaz feels Tameer should give larger loan amounts so that small businessmen like him do not have to go to other banks to cover the rest of the costs. To a question as to why he did not have a deposit account at Tameer, Mohammad Aijaz said his business is cash based. At the end of the day, all payments are received and made in cash. If there was an ATM at Tameer he would certainly consider opening an account.
Rashidan Bibi: Asasah
20 August-2008
"My family and I used to sell milk worth $165 per month but with Livestock Finance from Asasah we now sell milk worth $330 per month." I am Rashidan Bibi from a small town Raiwind, Pakistan. I have been living in this town for the past 18 years. My son and I sell milk. Before becoming a loan member at Asasah we had two cows, and then we bought another cow with Asasah’s credit. Since then every year we add a cow to our business by acquiring loans from Asasah. Currently, we own six cows. The increase in number of cows has served to an increased milk production and increased our profits. With the increase in income I have purchased a fridge, washing machine and a television for my house. Now we eat better and live well. Thankyou Asasah.
Shahnaz Baji: Kashf Foundation
4 April-2008
“Why should I take the health insurance when I and my husband have been healthy all these years. I think the idea of paying this money for something that is not going to be used is totally absurd” OR so thought Shehnaz Baji. A resident of Green Town, Shehnaz and her husband were signed up for the mandatory health insurance policy that was initiated by Kashf Foundation in November 2007. She vehemently opposed the decision and stated that she did not have enough money to meet household needs let alone pay for the health insurance premium. Since the insurance was a requirement for taking on the loan, she and her center members took it but were not convinced. Few days later, Shehnaz Baji’s husband Mr. Riaz developed breathing problems. She took her husband to a local clinic but his condition did not improve. Since he was the only earning source in the household, their economic situation began to suffer as their entire savings were used up for his treatment. While on one hand, Shehnaz Baji was concerned about her husband’s health, she was also alarmed by the state of household affairs where it was increasing becoming difficult for them to carry on. Upon informing the loan officer about her plight, the loan officer told her that she could use her health insurance to get her husband treated at the prescribed hospitals. Shehnaz frantically called on the Medical Hotline (a 24/7 medical helpline set up in collaboration with FMiA) where Dr. Nousheen instructed her to take Riaz to Ittefaq Hospital. At the hospital her husband was diagnosed with Bilateral Nasal Polyps; an overgrowth of tissue in the nose glands which required nasal surgery. He was operated and the operation went very well and for some time after the operation, the doctor stayed with Shehnaz Baji to give her moral support. “I would have never bought the insurance policy of my own accord had Kashf not forced it upon me. I now truly realize the value and proposition of the health insurance and I am thankful to Kashf to have thought about us”, declared Shehnaz. Less than 20% of the people in Pakistan are covered through some form of insurance mechanisms and the population at large remains unprotected against medical contingencies. Health care is increasingly becoming more and more difficult for a family like Shehnaz to afford. As a result they tend to delay their medical expenditures or resort to medical quacks for temporary relief often leading to chronic illnesses and even mortality. The health insurance product has been specifically designed by Kashf Foundation to give these very people a fighting chance in stabilizing their lives and help protect themselves for a better tomorrow.