Alhumdulillah,with the initiative and efforts of Human Welfare Foundation – TS & AP Chapter, under its Livelihood Program Seva Mutually Aided Cooperative Credit Society Ltd., Mahbubnagar was registered by Department of Cooperation, Mahbubnagar Dist., Telangana under TSMACS Act of 1995 on 27-12-2016.
Among the livelihood programs, HWF-TS&AP Chapter aims to establish interest-free credit societies in districts of Telangana & Andhra Pradesh. HWF-TS&AP Chapter, since its initiative of the said program has successfully registered such mutually aided interest-free thrift and credit societies in the districts of Medak, Hyderabad, Rangareddi, Nizamabad, Guntur, Adilabad, Warangal and Karimnagar. The purpose of establishing these credit societies is financial inclusion which is compliant with the Islamic Financial and Monetary Laws which prohibits payment and receipt of Interest .