SMUTA introduces loan scheme for lower grade employees

SMUTA introduces loan scheme for lower grade employees

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Sindh Madressatul Islam University Teachers’ Association has introduced an interest-free loan facility for the employees of 2 to 5th-grade employees of SMIU.

“We feel that we have the responsibility of these employees on us, and SMUTA shall strive hard to bring ease in their lives,” said SMUTA president Asif Hussain Samo.

“The community development wing of SMUTA brings interest-free loan scheme for the employees of grade 2 to grade 5 to facilitate them to meet their emergency needs,” Samo added.

He said that interest-Free Loan fund has been established in which teachers of SMIU shall voluntarily contribute so that the fund can be utilized for the loans. At the initial level, a maximum loan of Rs. 25000 can be given to the applicant and that can be returned back on easy installment without any interest.

The loan was approved in the general body of SMUTA, and community development wing of SMUTA shall manage the fund and applications. There shall be a yearly independent audit of the fund.

Samo said that most of these employees cannot meet their emergency needs and there aren’t any options available, we believe they are a very important part of the SMIU family and therefore, teachers of SMIU feel the responsibility towards them. The community development Wing of SMUTA shall bring more such initiatives in the future.

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