ALKHAIR MICROFINANCE CO-OPRATIVE

HISTORY:

Initially few aware citizen among the muslim community at patna had started AL-KHAIR as a social organization since early 1997.some time later a more compact setup of a charitable Trust and was registered on 22/08/1998 at patna Sadar Registry Office.

AL-KHAIR has a two fold programme objective:

Motivation Campaigns

Mobilization of Resource and Means

livelihood oppurtunities for the lot of poor or some economic measures that could generate employment or Self employment? from the very beginning this was the principal concern of AL-KHAIR.even in developing its first programme package following interventions were identified:

Direct financial help
Providing interest free loan
Providing capital to landless labourers for acquisition of cultivable land so that they could do their own farming
Providing cattle or paultry birds to rear.

However the magnitude of needed help particularly in field of small credit turned out to be so enormous that AL-KHAIR on its own began to think of initiating an exclusive programme of small credit availability in its service area.this was seriously discussed before looking for proper structural form of small credit lending.

Then the suggestion of interest free CO-OPERATIVE SOCIETY was put forward by the core group of AL-KHAIR.it was decided to gold 2 day workshop to discuss in detail all its structural nuanaces. In this work shop organized on 21-22 August, 1999 and participated by several experts from business finance and academics the decision was arrived at to initiate the process.

By setting up a promoters group who would shoulder exclusive responsibility of AL-KHAIR?s credit project.

By working out a status report on availability and of small credit, if possible through undertaking a survey in the service area that AL-KHAIR eventually decided to focus on availability of ?interest free loan?- a more tangible support in form of loan ?micro finance?.

The select group of experts having gone in details deliberating various options and then converging on to ?khatkhat moel of co-operative credit society? like structure .it was decided to organize a core group of promoters who would be the apex body. With responsibility of expanding in to a general body as well as be shouldering exclusive responsibility of working out the co-operative society?s institunal set up.

First promoters meeting was held on 26^th September, 1999 which was assumed official responsibilities of setting up this co-operative credit society. In promoters meeting this was also emphasized that for market viability of this co-operative credit society the service area approach of AL-KHAIR identifying the backward and poor settlements has to be suitably broadened. It should also cover a wider area including areas of intense business activities. Eventually it was decided to take up a part of the down city with its business areas in the centre and then taking up all contiguous settlements towards AL-KHAIR. Hinterland.

For this co-operative credit organization it was also felt that its operation and wok should not be confined only to Bihar. It should strive to have a lateral integration with the poor class here ever they be in sizeable number. There should also be special effort to rope in towns or cities where business interest?s is substantial. It was decided therefore that in its structural form this proposed outfit should be a multi state co-operative society and be able to operate in the states of Bihar, Uttar Pradesh and Delhi. Accordingly the preparations have to made to get it registered as a multi state co-operative credit society.

To begin with AL-KHAIR proposes to work in Patna .the capital of Bihar, though for it beginning activities its focus area is south Patna with old settlement of Phulwarisharif as the hub centre of all its activities.

After registered under MSCS Act AL-KHAIR had starts its office at Haroon Nagar sector-2 on 18/08/2002.