Established in: 1992
Registration Law: Section 42 of Companies Ordinance 1984
Themes & Interventions: Education, Health
What We Do: Advocacy, Service Delivery
Head Office at Lahore
148 Block P, Model Town Extension Lahore, Pakistan
Centre for Women Co-Operative Development (CWCD) now known as "Wasil Foundation" came into existence as a Non-Governmental Organization in 1992, regulated under the Voluntary Social Welfare Agencies (Registration & Control) Ordinance 1961. Currently, CWCD is registered as a company under section 42 of the Companies Ordinance, 1984 by the name of "Wasil Foundation", and has successfully transferred its assets and liabilities to Wasil Foundation in 2012.
Since inception, Wasil Foundation is devoted towards the achievement of its objectives—poverty alleviation through enterprise development and the creation of value chains. The aim of the organization is to economically empower poor communities and facilitate them in developing their businesses through Micro Credit and Enterprise Development Programs. In 2009, Wasil Foundation (formerly CWCD) extended its operations from Conventional Micro-finance to Islamic Micro-finance and eventually discontinued conventional micro-finance in 2010, thus becoming a purely Islamic Micro-finance organization. Wasil Foundation has thus become the pioneer organization in Islamic Microfinance operations in Pakistan. Under Islamic Micro-finance, Wasil Foundation has successfully introduced five Murabaha, Sala’m, Istisna, Ijara and Diminishing Musharaka in the true spirit of Islam.
Economic Empowerment through Islamic Micro Finance
To support the poor break out of the poverty cycle by providing them with Islamic financial services, business development services, advocating their rights, safety nets and skills training.
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