OPEN (Organization of Pakistani Entrepreneurs) Karachi chapter, a voluntary, not-for-profit organization, dedicated to the promotion of entrepreneurship and business leadership signed an MOU on 18th February 2014 with Ihsaas Trust, a non-profit trust established to financially empower individuals by helping them establish small scale business through micro financing. The event took place at Avari Hotel during an Iftar Dinner. The MOU was signed by Dr. Zakiuddin Ahmed (President, OPEN Karachi) and Mr. Azeem Pirani (Board Member, Ihsaas Trust).
The purpose & intent behind this MOU is to jointly help and support the underprivileged population which is desirous to start their small businesses and are looking for financial support and professional guidance. Under this MOU Ihsaas Trust will provide at least 2 prospective and pre-scanned small scale entrepreneurs and will carry out their required due diligence. Also the Relationship management/coordination and disbursement/collection of funds would be carried out by Ihsaas Trust.Open Karachi will be responsible for providing the revolving fund for the financial support as well as mentorship to the selected beneficiaries. The MOU will be effective from 1st August 2014.