Faisel Rahman

Ashoka Fellow
United Kingdom,
Fellow Since 2007

Citation

This profile was prepared when Faisel Rahman was elected to the Ashoka Fellowship in 2007.
The New Idea
Faisel is challenging retail financial systems in the U.K. that discriminate against and exclude the most marginalized people and that allow predatory lenders to exploit these vulnerable populations. To reform such practices, he is increasing transparency and accountability by providing critical information to key decision makers—banks, regulatory agencies, and borrowers—to better reflect the credit-worthiness of disadvantaged people. Faisel also is seeking to reduce the scope of predatory lending by encouraging and influencing the government’s regulatory activities and by educating borrowers, both by providing counseling about money and debt management, and by providing financial products that compete with the “doorstep lenders.” Most importantly, Faisel is delivering new client-centered financial products and services to the most marginalized people in a way that demonstrates to banks that this population is creditworthy and that his approach is financially viable for mainstream institutions.
The Problem
The Strategy
The Person

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