MISSION

SAVE THE SOCIETY FROM THE DANGERS OF RIBA HERE AND HEREAFTER BY CREATE AWARENESS AND PROFESSIONAL INITIATIVES

OVERVIEW
Laariba Foundation was started as society and began its operation on 30th March 2009 with an intention to empower the society by lending short-term interest free micro loans for immediate and urgent needs. It is targeted to help the needy who are unable to access credit, or get it at unfair or unethical terms. It is a non-profit organization and all financial transactions are devoid of interest. Laariba is formed after considering the severe impact of interest among the poor that led to many social issues including suicides and upon identification of a severe gap in such a service in the region. It is also noticed that the issue of interest is taken very lightly by the community in spite of its severe religious implications.

QUICK FACTS
Registered Society with Dedicated Office and office bearers Started on 30th March 2009 2000 Beneficiaries 4 Units and growing

SERVICES
Provide Interest free micro loan to poor Help in setting up of such centers in every Mahal Awareness on consequences of interest and loan Counseling and Consulting on financial matters

CURRENT ACTIVITIES
To empower the poor by providing funds, resources, guidance and support in an Sharia compliant manner so that they may become financially strong Currently the operation of Laariba is to adopt a region and strive hard to make the selected region interest free. This is initially by offering micro loan similar to what tamilians offer. We form groups for security and lend money for the individuals without any interest. Laariba plans to expand by adopting new region in partnership with an organization and expand to their region of interest. Currently we operate successfully at Mugadhar, Nainamvalappu, Kodhi and Chakkum Kadavu.

CONTACT
Laariba Welfare Society West Kallai, Calicut 673003 India Ph : +91 9895013560 E mail : laaribaa@gmail.com

WORKING MODEL

WHY LAARIBA
Riba is one among seven major SINS Majority of customers are Muslims even after severe warnings Gold loan providers is the fastest growing business in Kerala

Strong Tamil speaking mafia of micro credit providers

Interest rates of 200 300% per annum for poor people while rich enjoys 10-20% Loan and Interest payment has become a lifestyle among common mass irrespective of class/religion/cast

Initial Meeting in Chakkum Kadav Explaining about Importance and Policies of Laariba
Widely popular and successful Grameen model is followed for group formation with five members in each group. Loans are given without surety(gold, house Agreement), we use trust, mutual co-operation and moral obligation of other group members to facilitate payback To inculcate the habit of savings, Laariba also take measure to encourage savings programs for the borrowers. Scheduled meetings are held for collection of savings and loan installments and disbursal Credit is primarily being offered to promote income-generating activities as opposed to meeting consumption needs

PAYMENT MODES DETAILS