Ms. Musarrat is a 26-year-old married woman. She helps her husband to run a grocery store located outside of their home. When the couple started their relation with Kashf five years ago, their store was small with very few items. They wanted to increase the range of products but the lack of funds made this almost impossible. Mussarat borrowed some funds from Kashf in anticipation of business improvement. Over time, they have added new items to the store and it has become popular in the community. They want to increase their inventory since the population of their neighborhood has increased in recent years. Currently they have applied for a loan of 30,000 (PKR) which they will use to add new racks (for increased storage capacity) and to purchase stocks of rice and sugar.
Prior to the relation with Kashf, none of Ms. Musarrat’s four children went to school. Now, the youngest daughter is the first child of the family to receive formal education. The family is living a much better life than before because they are able to meet their expenses easily and to maintain a good standard of living.
About Kashf Foundation
Kashf Foundation is one of the leading microfinance providers in Pakistan, focused on expanding financial access for poor women across the country. The organization’s economic empowerment program has grown from 913 clients in 1999 to 284,653 clients as of May 2012, with a current outstanding portfolio of US$32 million.
Kashf has trained over 227,000 clients in basic financial literacy and systemized financial education since 2010, in addition to providing training in gender justice and empowerment to over 12,500 participants since 2011. This group includes clients, their husbands and adolescent boys in their communities.
Over the past 16 years, Kashf has disbursed an estimated 2 million loans. Today, it operates in 16 districts in Punjab province and 1 district in Sindh province through a network of 157 branches. It plans to open 19 new branches to cover all four of Pakistan’s provinces.