Seed Out receives IsDB Award for impact in Islamic Economics

Seed Out

Another great achievement for Pakistan- Seed Out, a micro-entrepreneurs non-profit crowd funding platform has been conferred with Islamic Development Bank Award for inspirational achievement for the first time in 32 years of Islamic Economics prize history. 

According to sources, Seed Out has received the reward along with a cash award of $70,000 during the ISDB annual meeting held on the 28th of August. This acknowledgment is presented to only two creative projects that are solving important development challenges in the 57 ISDB member countries across 4 continents. 

Read more: Investment by Islamic banking industry rises by 23 percent

During the meeting Dr. Bandar Hajjar, ISDB President, praised the winners on their remarkable performance admired them for their contribution to the development of Islamic Economics, and wished them more success in all their endeavors. 

“This is the first time in the 32-year history of the ISDB prize, that both winners are Islamic fin-tech start-ups.  The Islamic Development Bank (ISDB) has selected two crowdfunding platforms as winners of the ISDB Prize for Impactful Achievement in Islamic Economics for the year 2021, in recognition of their innovative and impactful roles in funding projects that advance the principles of Islamic Economics.” 

On receiving the award Mr. Zain Ashraf, Founder/President Seed Out said, “We are extremely proud of this highly prestigious impact award. I dedicate this one to Seed Out’s team, the people we have uplifted out of poverty, and to all Pakistanis who are contributing their part for a poverty-free Pakistan. We also have the vision to establish Seed Out offices all across Pakistan to raise more potential micro-entrepreneurs by providing them access to asset-based interest-free loans.” 

Seed Out, was started by Mr. Zain Ashraf Mughal in 2013. It is not for profit crowdfunding platform which is working to uproot poverty in Pakistan by founding micro-entrepreneurs through interest-free micro-financing. Seed Out helps people to start small businesses. Seed Out has helped the formation of 1400 micro-entrepreneurs (60% males/40% females, including differently-abled people & Trans persons) across 4 districts.

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