1403Pakistan Current AffairsMedium
Who among the following Pakistani recently received the Ramon Magsaysay Award dubbed as Asia’s highest award equivalent to Nobel Prize? (As reported on 4 September 2021)
AShoukat Tareen
BMuhammad Amjad Saqib
CReza Baqir
DNone of these
Correct answer
B. Muhammad Amjad Saqib
Explanation
Microfinance pioneer from Pakistan — who developed an interest-free microfinance programme — was among Tuesday’s winners of Asia’s equivalent to the Nobel Prize. Muhammad Amjad Saqib, 64, won the Ramon Magsaysay Award for his “first-of-its-kind” interest- and collateral-free microfinance programme that catalysed scores of poor households. Nearly two decades after its launch, Akhuwat — founded by Dr Saqib — has grown into the nation’s largest microfinance institution, distributing the equivalent of $900 million and boasting an almost 100 per cent loan repayment rate, the award foundation said.