The Muslim Youth Revolving Fund last Sunday received a boost when the national chairman of the Muslim Association of Malawi (MAM) donated MK 20,000.00 cash with further cash donations from notable faces like the Malawi’s former Ambassador to Egypt Jafari Mussa, MAM Blantyre District Chairman Aman Omar, among others.
The Muslim Youth Revolving Fund concept was announced by the Muslim Youth Concern on August 4, 2013 during last year’s iftaar program. The initiative is intended to alleviate the suffering of the Muslim youth who are finding it tough to make ends meet due to souring poverty levels in Malawi.
Speaking at Iqra Islamic Propagation Centre last Sunday, the chairperson of the group Khairu Dickson said that they will start giving out loans to people after harvesting their maize in Chazunda, Blantyre.
“We have cultivated a 20 hecta farm in Chazunda’s Gada farm where we have planted maize and other cash crops. We expect to harvest and sell the maize in April this year and immediately the first beneficiaries will start receiving the loans. The loans that we intend to start giving out are interests free. They are interest free because Islam prohibits interest,” said Dickson.
The initiative is expected to raise and distribute about MK500 million in five years and the organization has earmarked Muslim youth in Blantyre to be the first beneficiaries during the pilot phase of the project.
In his remarks, the MAM chairperson welcomed the revolving fund and urged Muslims in the country to trust the group and render their support in order that the project should achieve its intended objectives.
“This is a welcome development taking place in the Muslim community that has been embarked by these youth. I would like therefore to urge Muslims in the country to trust them. They have initiated an agenda that is expected to change lives of many Muslims in the country. As MAM we are giving them our support to go ahead with the initiative…,” said Sheikh Idrissa.
The Muslim Youth Conceren has since opened a bank account and is calling upon well wishers to contribute their monetary support towards the fund. The account details are as follows: national bank, Henderson street branch, account number 1001200611.