Wasil Foundation

What Wasil Foundation does

Wasil Foundation, formerly the Centre for Women Co-operative Development (CWCD), is a Pakistani not-for-profit company registered under Section 42 of the Companies Ordinance 1984 and headquartered at 127 Block C-II, Model Town, Lahore. Founded in 1992, the organization pioneered Islamic Microfinance in Pakistan by transitioning from conventional microcredit to a fully Shariah-compliant operating model between 2008 and 2010, and reincorporated as Wasil Foundation in 2012 with a Shariah Supervisory Board comprising Dr. Imran Ashraf Usmani, Mufti Iftikhar Baig, and Sheikh Hussain Hamid Hassan.

The organization's core offering is a portfolio of five Shariah-compliant financing products — Murabaha (cost-plus sale), Salam (forward-sale contract), Istisna (manufacturing contract), Ijara (leasing), and Diminishing Musharaka (partnership financing) — delivered through 23 branches across 10 districts in Punjab Province. These core products are supplemented by MESSAC, a business development and advocacy service for micro-entrepreneurs, and two charitable cause programs, Education For All and Water For All. Underwriting, disbursement, and collection are conducted in person through branch and field operations rather than via digital or AI-enabled channels.

Revenue is generated through three streams: financial returns on the Islamic microfinance portfolio, institutional grants (notably from PPAF, the State Bank of Pakistan, and the Swiss Agency for Development and Cooperation), and public donations processed through the website and PayPal. The organization primarily targets the 'potential poor' — economically disadvantaged individuals with entrepreneurial capability — rather than the 'poorest of the poor,' and reports 41 employees. Major institutional partners include PPAF, SBP, Bank Alfalah Islamic, UBL, ABL, HBL, Akhuwat, TEVTA, LUMS, and the Islamic Microfinance Network.

Name

Wasil Foundation

Legal name

Wasil Foundation

Website

https://wasil.org.pk

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Wasil Foundation is a Pakistan-based non-profit (Section 42) and pioneer of Islamic Microfinance, operating 23 branches across 10 Punjab districts. It delivers five Shariah-compliant financing products — Murabaha, Salam, Istisna, Ijara, and Diminishing Musharaka — to 'potential poor' entrepreneurs, funded by grants, donations, and portfolio returns.

Ownership category

akta.pro rank

Product category

Islamic Microfinance

NAICS

Grantmaking Foundations (813211), Grantmaking and Giving Services (81321), Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM), Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Islamic microfinance
• Shariah-compliant financing
• Poverty alleviation services
• Microenterprise development
• Charitable donation programs

Headquarters

HQ city

Lahore

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Islamic Microfinance Services: Wasil Foundation provides Shariah-compliant microfinance products (Murabaha, Salam, Istisna, Ijara, Diminishing Musharaka) to entrepreneurs. As a not-for-profit company under Section 42 of Companies Ordinance 1984, revenue generation is through financial returns on microfinance operations and charitable donations.
2. Donations and Charitable Contributions: Public donations received for specific causes including Education For All (goal $320,000) and Water For All (goal $100,000) campaigns. Donations are processed via PayPal and offline methods.
3. Funding and Grants: Institutional funding received from organizations like Pakistan Poverty Alleviation Fund (PPAF), State Bank of Pakistan, and international development agencies for microfinance operations and enterprise development programs.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Wasil Foundation delivers Shariah-compliant Islamic microfinance products (Murabaha, Salam, Istisna, Ijara, and Diminishing Musharaka) to economically disadvantaged entrepreneurs across Punjab, Pakistan, alongside enterprise development support (MESSAC) and charitable cause programs (Education For All, Water For All). Operations are conducted through 23 branches in 10 districts, providing interest-free financing and business development services to the "potential poor."

Product overview

Wasil Foundation operates a unified Islamic Microfinance platform offering five Shariah-compliant financial products—Murabaha, Salam, Istisna, Ijara, and Diminishing Musharaka—designed to provide interest-free financing to economically disadvantaged communities. These core products are complemented by the MESSAC business development service and two charitable cause programs (Education For All and Water For All). The organization transitioned from conventional microfinance to Islamic Microfinance in 2009-2010, becoming Pakistan's pioneering Islamic Microfinance organization.

Differentiator

Problem solved

Functional benefit

Products and services

• Murabaha Shariah-compliant cost-plus financing product where Wasil Foundation purchases goods and sells them to the client at an agreed markup price, with gradual repayment and no interest (riba). Targeted at economically disadvantaged entrepreneurs seeking interest-free financing.
• Salam Forward-sale Islamic finance product where payment is made in advance for goods to be delivered at a future date. Wasil's Salam product gained national recognition and media coverage for its unique model.
• Istisna Manufacturing contract Islamic finance product that finances the manufacture or construction of specific items per agreed specifications and price.
• Ijara Lease-based Islamic finance product where the organization provides assets to clients on a rental basis, with ownership transferring to the client upon completion of payments.
• Diminishing Musharaka Partnership-based Islamic finance product where the organization and client jointly own an asset, with the client's share gradually increasing through periodic payments until full ownership is achieved.
• Education For All Educational initiative aiming to bridge the gap between out-of-school children and education that could transform lives, with a fundraising goal of $320,000. Targeted at underprivileged children from economically disadvantaged families.
• Water For All Water access initiative providing clean water as a basic human right and form of everlasting charity, with a fundraising goal of $100,000. Targeted at water-insecure communities.
• MESSAC (Micro Enterprise Support Services and Advocacy Cell) Business development program that empowers micro-entrepreneurs to grow sustainably by offering comprehensive business development services, helping micro-enterprises market and sell their products directly to customers.

Quantifiable outcome

• Rs. 90 million grant from PPAF (Rs. 40 million for enterprise development, Rs. 50 million for micro credit) - 2006
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• Lahore University of Management Sciences (LUMS)coreStrategic or Co-development PartnerKnowledge partnership with Social Enterprise Development Centre (SEDC) at LUMS to provide insights into organizational transformation and dealing with existing and upcoming challenges.
• AkhuwatmajorStrategic or Co-development PartnerPartnership under Islamic Microfinance Program for Graduates of TEVTA. MOU signed along with TEVTA for providing Islamic microfinance services.
• Technical Education and Vocational Training Authority (TEVTA)majorStrategic or Co-development PartnerTripartite MOU with Akhuwat and Wasil for Islamic Microfinance Program targeting TEVTA graduates.
• Pakistan Microfinance Network (PMN)majorStrategic or Co-development PartnerPartnership MOU under South Asian Microfinance Network (SAMN) for knowledge sharing and network development.
• Islamic Microfinance Network (IMFN)minorOthersInternational network affiliation for Islamic microfinance organizations.
• South Asian Microfinance Network (SAMN)minorOthersRegional microfinance network membership.
• Mix MarketminorOthersInternational microfinance data and analytics platform where Wasil was recognized with Social Performance Award in 2009.
• KPMG, Taseer Hadi & Co (Chartered Accountants)coreImplementation/ SI/ Consulting PartnerExternal auditors providing independent financial statement verification.
• A.F. FERGUSON & COmajorImplementation/ SI/ Consulting PartnerFinancial consultant providing advisory services.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Meezan Bank: Pakistan's leading Islamic bank, offering the full suite of Shariah-compliant products (Murabaha, Ijara, Diminishing Musharaka, etc.). Comparable to Wasil on Islamic finance product taxonomy — and Dr. Imran Ashraf Usmani of Meezan sits on Wasil's Shariah board — but operates as a full-scale commercial Islamic bank rather than a microfinance foundation.
• Bank Alfalah Islamic: Islamic banking arm of Bank Alfalah, offering Shariah-compliant retail and SME financing. Comparable to Wasil because it is an active banking partner for Islamic microfinance integration and uses the same core Shariah product set (Murabaha, Ijara, Diminishing Musharaka).
• AlBaraka Bank (Pakistan): Pakistan-licensed Islamic bank offering Shariah-compliant products with ties to global AlBaraka group. Comparable to Wasil because Mufti Iftikhar Baig of AlBaraka Islamic Bank sits on Wasil's Shariah Supervisory Board, and both operate in Pakistani Islamic finance.

Emerging players

• Islamic Relief Pakistan: Pakistan operations of an international Islamic humanitarian NGO providing Qard-ul-Hasana (interest-free) loans and community development. Comparable to Wasil on Shariah-compliant lending to disadvantaged communities and donor-funded non-profit structure, though Islamic Relief is more relief-focused.

Others

• Pakistan Poverty Alleviation Fund (PPAF): Wholesale funder and ecosystem partner that has channeled Rs. 90M+ in grants to Wasil since 2002. Comparable as an enabler/funder rather than direct competitor, but its strategic priorities materially shape Wasil's operating environment.

Direct peers

• NRSP Microfinance Bank: One of Pakistan's largest microfinance banks with national rural outreach, offering Islamic and conventional financing. Comparable to Wasil on rural microenterprise financing mission and Pakistani geographic focus, though at much greater scale.
• Kashf Foundation: Pakistan-based microfinance institution serving low-income women entrepreneurs with credit and insurance products. Comparable to Wasil on target customer (economically disadvantaged micro-entrepreneurs), product structure (murabaha/qard-based lending), and donor-funded operating model.
• Akhuwat: Pakistan's largest Islamic microfinance institution, offering Qarz-e-Hasna (interest-free) loans nationwide. Directly comparable to Wasil as both serve the same under-banked Pakistani population with Shariah-compliant microcredit, and the two even partner via a tripartite MOU with TEVTA.
• Pak Oman Microfinance Bank: Pakistan-based microfinance bank offering Shariah-compliant and conventional microfinance products nationwide. Comparable to Wasil on regulated microfinance institution status and Islamic microfinance product offering.
• FINCA Microfinance Bank: Pakistan-based microfinance bank offering credit and savings products to underserved micro-entrepreneurs. Comparable to Wasil on serving the 'potential poor' microenterprise segment in Pakistan with branch-based outreach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/wasil-foundation

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Wasil Foundation