Microfinance Focus, February 8, 2012: Pakistan’s Islamic Microfinance Institution Farz Foundation and the University of Veterinary and Animal Sciences (UVAS) have entered into a partnership to create and raise awareness about Shariah compliant livestock and to provide services to the farmer’s community.

UVAS Vice Chancellor (VC) Prof Dr Talat Naseer Pasha and Farz Foundation Chief Executive Farhat Abbas Shah signed a Memorandum of Understanding (MoU) on Friday. The primary purpose of the MoU is to engage both the parties in collaborative and cooperative efforts to promote Islamic micro-finance in the livestock sector that will help in overcoming poverty.

The Farz Foundation will extend its field network for conducting field survey and research in mutually agreed areas and would also involve the College of Veterinary and Animal Sciences (CVAS) Jhang in various activities. They will also collaborate and endeavour to identify the priority areas of the services needed by their members and clients, students, professionals and the community in general.

Addressing the meeting, Dr Pasha said that Islamic micro-finance could bring a revolutionary change, contributing towards overcoming poverty and uplifting agro-economy. Prof Dr Pasha explained that university was focusing on result-oriented research that would be helpful in uplifting the livestock sector.

Talking about the Farz Foundation, Farhat Abbas said that the organisation was engaged in Islamic micro-financing, poverty alleviation through livestock and agriculture, capacity building, institutional development, social welfare, zakat distribution among the poor with productive manners and handholding of micro and small enterprises with Shariah compliant finance products.

The MoU signed between UVAS and Farz Foudnation would remain valid for the next five years.