INFAQ Foundation was incorporated on September 9, 1981, as an Association-of-Not-for-Profit, under Section 26 of the then Companies Act 1913 (VII of 1913). Subsequently, the name of the Foundation was changed to INFAQ Foundation on 25th September, 1994 under Section 42 of the Companies Ordinance 1984.
INFAQ Foundation was established and entirely funded by Bank of Credit & Commerce International (BCCI) at the behest of its founder Mr. Agha Hasan Abedi, who decided that no profit from BCCI’s operations in Pakistan shall be repatriated abroad and all of it would be donated to the Foundation for independent charitable purposes.
The main objectives of the Foundation are to promote community welfare programmes, provide medical aid, relief of distress to the poor, render financial assistance to charitable institutions and projects, support meritorious students in higher studies and help the writers, journalists and performing artistes.
Since inception in 1981, INFAQ Foundation has donated around Rs. 4,972 million till June 2012 as under:
- Rs. 4,202 million to more than 360 charitable institutions working in the field of education, health and general welfare.
- Rs. 703 million to hundreds of underprivileged individuals and to writers, poets, scholars and performing artistes and their families.
- Rs. 67 million (interest-free-loan) to highly meritorious students who cannot afford higher education as well as to needy individuals for achieving self-reliance.
BCCI/INFAQ Foundation has played key role in establishment, strengthening and sustainability of several reputable educational institutions including:
- BCCI-FAST (Foundation for Advancement of Science and Technology) Institute of Science & Technology (now National University of Computer and Emerging Sciences),
- Ghulam Ishaq Khan Institute of Engineering Sciences & Technology,
- Sir Syed University of Engineering & Technology, etc.
These institutions are producing scientists and technologists of the highest calibre equipped with latest technologies who are making significant contribution towards development of Pakistan and other countries.
Top ten beneficiary institutions of INFAQ Foundation (in terms of financial assistance) include:
- Sindh Institute of Urology & Transplantation, Karachi.
- Ghulam Ishaq Khan Institute of Engineering Sciences & Technology, Topi, Khyber Pakhtunkhaw.
- Shaukat Khanum Memorial Trust, Lahore.
- Centre for Development of Social Services, Karachi.
- Orangi Pilot Project Society, Karachi.
- National Institute of Cardiovascular Diseases, Karachi.
- Layton Rahmatullah Benevolent Trust, Karachi.
- Murshid Hospital & Health Care Centre, Karachi.
- The Kidney Centre, Karachi.
- Husaini Haematology & Oncology Trust (Hussani Blood Bank)
Messages from some of the beneficiary institutions
Dr. Adeeb -ul-Hassan Rizvi (Director SIUT, Karachi)
The INFAQ Foundation was the first organization to recognize and support kidney transplantation programme in the country. The Foundation is the finest example of sponsoring the transfer of high technology for the benefit of the people of Pakistan, particularly the underprivileged members of the society.
Prof. Azhar Masood A. Faruqi (former Executive Director NICVD, Karachi)
The National Institute of Cardiovascular Disease, Karachi, is one of the many healthcare institutions which have benefited from help given by the INFAQFoundation.
Mr. Imran Khan (Chairman SKMCH&RC, Lahore)
INFAQ Foundation has been one of the most important donors for SKMT. The hospital has received regular and substantial support every year from INFAQ. The contribution of such donations towards building and supporting national institutions is crucial.