A dream.........

On a mild winter afternoon, in Peshawar, Magrib Gul, the security guard at the guest house sitting beside me started a story……..

“Yesterday, on my way home I met a guy with a bunch of papers. I asked what those papers were for; he replied these are loan papers. An organization in Islamabad gives loans to needy people without any guarantee. I asked so many related questions and requested for help to get access to the loan but I don’t remember the name, I could not note the address even.

You should have noted the name and address I stressed him! But I can’t read or write Sir, Gul informed me and I feel so sorry for myself so many times a day. 

Magrib Gul, a husband and a father of six, lives in somebody’s house in a rural village of Mardan District. His wife does domestic labor at the owner’s and takes care of her own family as well. The only income this family has is Gul’s monthly salary of Rs: 8000 (equal to USD 90). Gul is happy as all his children go to school and the motivation he gives to them is his own example-the hardship and limited choices they have.

I asked Magrib, why he needs to lend money?

“Sir, I have a dream…. to own a house, Gul continues; with my earning as labor for fifteen years, I have purchased a small piece of land and my brother in law has offered me wooden pillars and……….what I need is Rs: 20,000 to bear hard stones and labor cost. If I get the loan, I can pay it off in ten equal installments from my salary”

The story is not rare, nor is my exposure to such situations! …..What left me think is that is there any way we can serve this unsecured but needy market? Can we innovate in the risk coping mechanism? Let’s think………..