The Governor
of the State Bank of Pakistan, Dr. Reza Baqir, announced that banks have shown
an overwhelming response to an innovative financing scheme for unsecured loans
to SMEs introduced by the State Bank and supported by the Government of
Pakistan.
The banks
have been selected through a transparent bidding process based on prescribed
criteria. While appreciating the enthusiastic response from the banks, Dr. Reza
Baqir, Governor of the State Bank, emphasized the early implementation of the
plan by the banks. He also underlined the importance of wide awareness and
commercialization of the scheme for SMEs to fully reap its benefits.
Of the 20
banks that competed to participate in this scheme, 8 banks in four categories
have been selected based on the largest amount of financing and the largest
number of SME clients to be served.
This is the
first time that the State Bank of Pakistan has introduced a comprehensive loan
scheme for SMEs without collateral in the country. These categories include
large banks, midsize banks, small banks, and banks in collaboration with
fintech. The winning banks are.
- Habib Bank Ltd
- United Bank Ltd
- Bank Alfalah Ltd
- The Bank of Punjab
- Allied Bank Ltd
- Meezan Bank Ltd
- JS Bank Ltd
- The Bank of Khyber
These banks
have been selected through a transparent bidding process based on prescribed
criteria. While appreciating the enthusiastic response from the banks, Dr. Reza
Baqir, Governor of the State Bank, emphasized the early implementation of the
plan by the banks. He also underlined the importance of wide awareness and
commercialization of the scheme for SMEs to fully reap its benefits.
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