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Innovation and Cultural Myths

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Dr. Muhammad Amjad Saqib, Founder of Akhuwat, World's Largest Interest-Free Microfinance Organization, gave a talk on the myths surrounding social entrepreneurship at the OPEN Lahore Summit 2015.

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Innovation and Cultural Myths

  1. 1. INNOVATION AND CULTURAL MYTHS Social Enterprise DR. MUHAMMAD AMJAD SAQIB 13-JAN-2015
  2. 2. 1. Starting an enterprise with few thousands rupees is not possible.
  3. 3. 2. Interest free lending is not possible.
  4. 4. 3. Mosque cannot be brought into development mainstream.
  5. 5. 4. Poor are not honest and trustworthy
  6. 6. 5. Borrowers can never become donors.
  7. 7. 6. Principles for managing social enterprise and economic enterprise are different.
  8. 8. 7. Financial sustainability in Social Enterprise is questionable.
  9. 9. 8. Succession planning in Social Enterprise is family oriented/inefficient.
  10. 10. 9. Compensation and quality of HR in Social Enterprise is below market standard.
  11. 11. 10. There is limited scope of working with Government and growth is slow.

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