Karachi: Bank Alfalah has signed the agreement with State Bank of Pakistan for Project Document under the Department for International Development (DFID) funded Financial Inclusion Programme (FIP).
This was stated by President and CEO, Bank Alfalah Ltd (BAFL), Atif Aslam Bajwa while speaking at a luncheon meeting at Korangi Association of Trade and Industry (KATI) here on Tuesday.
He said the State Bank under the DFID-funded “Financial Inclusion Programme (FIP) will provide funding support to Bank Alfalah (BAF) in undertaking the IFC SME Advisory Project.
The main objective of the project is to create a symbolic podium which can position Bank Alfalah to cater to the financing needs of the SME sector including the S and M segments through a holistic banking and advisory services solution.
Bajwa said that SMEs contribution to the national economy should be 60 per cent instead of 30 per cent prevailing at present, he said. Banks’ lending to the SMEs (small and medium) sector should be improved as SMEs are the major contributor to the country’s economy.
He stressed that the banks should have top most priority to SME banking with a view to ensuring uninterrupted flow of financial access to SME sector in the country.
He said that though economy and political situation is grim at present however there is silver-lining and situation would get better very soon. The business community is shy of making further investment due to the situation particularly the energy crisis, Bajwa.
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