Introduction

Poverty is a global challenge that the whole civilized world is addressing to alleviate it. The philosophy of globalization and its spirit demands societies coordinate economy, social change and development as one unit and not as divided in compartments to move ahead. The attitude of compartmentalizing societal issues into cubicles cannot effectively contend with the philosophy of globalization. Microfinance started with this very approach, but unfortunately methodologies, recourses, policies, systems, and procedures to grasp a widespread made it scattered. The race of achieving high targets detracted from most of the institutions working for microfinance, thus leaving behind the initial focus which is the conviction of poverty alleviation by enhancing the productivity of poor people and building their skills to earn money with honor and dignity. Microfinance also has a social performance motivation. Farz Foundation has a strong notion that the ultimate financial sustainability cannot be availed without social sustainability.

However, the dream of changing the lives of poor cannot become a reality without fulfilling the aim of social performance. No doubt, microfinance is a tool which can change not only the individual lives of the poor, but also can bring a social revolution in poor countries towards greater productivity. Social performance based microfinance is not a commercial based industry. It has a belief on socio productive profitability, which occurs as a result of prominent social change at a larger scale.

In this perspective Farz (duty) Foundation was established to accomplish the real goals and objectives of the microfinance sector, which are currently neglected to an enormous extent. It is a social performance based non-governmental organization with highly committed, self-motivated, innovative and enthusiastic grassroots experts as its founding members. They are also very experienced microfinance practitioners. Farz Foundation is registered under Societies Act 1860 by its legal status. Farz Foundation is an organization in Pakistan aiming towards achieving millennium development goals with a holistic approach. It is simultaneously addressing health, education, and the financial vulnerability of poor populations to ease their burdens while systemically alleviating poverty.

Although Farz Foundation is at its early stage, its vision, mission, and objectives are very clear and are inevitability necessary for poverty alleviation, particularly in low-income countries like Pakistan. Farz Foundation employs a multi-bottom line philosophy with an exceptionally creative approach, with each serving as the four dynamic cornerstones of the institution.