There
are 1.2 billion people who live on the margins of society, subsisting
on less than $1 a day (UN report, 2000). More than one billion
people – 90 per cent of the world’s self-employed
poor – lack access to basic financial services, depriving
them of the means to improve their incomes, secure their existence,
and cope with emergencies. Providing financial services to poor
people in developing countries can help transform their lives
permanently and lift millions out of poverty each year (UN –
International Fund for Agricultural Development – IFAD,
2004).
In
Pakistan about 24% of the total population is living below poverty
line, while 7.7% people are unemployed (Pakistan Economic Survey
2007-08). To contribute towards poverty alleviation and creation
of employment opportunities Muslim Aid Pakistan initiated Economic
Empowerment Program.