The Islamic Welfare Societyin coastal town Bhatkal, on the shores of Arabian Sea, has anchored the livesof lakhs of people in and around in 40 years of its establishment. Registered under the Karnataka Societies Act, IWS provides interest-free loan to people irrespective of religion, cast and creed.Around 15% of the beneficiaries are non-Muslims.
Around thirteen crore rupees worth loans were disbursed to more than 4800 marginalised persons last year for business, agriculture, education, house repair, medical treatment, marriage, etc. In the initial two years of the current financial year around 2200 people were provided with loans to the tune of 3 crore 42 lakhs.
During the tsunami of demonetization, the IWS rescued around33 thousand people by offering loans amounting to 35 crores (2017-2019). Another disastrous wave was that of Covid-19 and the Lockdown, a heavy blow to weaker sections. The IWS helped around 18 thousand badly hit people, providing loans amounting to 31 crores (2019-2021).
The Bhatkal Society acts as a custodian too. Various Masjids and NGOs keep their deposits for safety purpose.
The society educates petty businessmen and small time artisans to manage their funds. Pigmy deposit is an effective mode to promote saving habit. The Society’s pigmy collectors procure around 1 lakhs rupees daily reaching to their door steps. With a pre and free consent of the depositors the same fundsare channelized as Interest Free Loans to needy persons. This brings spiritual solace to the depositors.
Systematic distribution of Zakat
The Society has got arrangements for collection and distribution of Zakat fund in an organized manner. Around 550 families of Bhatkal are benefitted through this Scheme. Deserving people in and around Bhatkal are provided monthly pension of rupees 500, 300 and 200 per month out of the total sanctioned amount for the whole year. It is deposited in their name by opening accounts.
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