{"id":2221,"date":"2019-01-31T13:44:06","date_gmt":"2019-01-31T13:44:06","guid":{"rendered":"https:\/\/pakistanintheworld.pk\/?p=2221"},"modified":"2019-01-31T13:44:06","modified_gmt":"2019-01-31T13:44:06","slug":"pkr-1-billion-announced-for-smes-by-uk-funded-karandaaz-and-js-bank","status":"publish","type":"post","link":"https:\/\/pakistanintheworld.pk\/live\/pkr-1-billion-announced-for-smes-by-uk-funded-karandaaz-and-js-bank\/","title":{"rendered":"PKR 1 billion announced for SMEs by UK-funded Karandaaz and JS Bank"},"content":{"rendered":"

Islamabad-\"\"UK-funded company Karandaaz has signed an agreement with JS Bank to jointly make PKR 1 billion available for small and medium enterprise (SME) financing. Increased access to SME financing will create jobs, improve household incomes and boost economic growth at a macro-economic level in Pakistan.<\/p>\n

Karandaaz Pakistan, a company funded by the UK\u2019s Department for International Development (DFID), and JS Bank, one of Pakistan\u2019s fastest growing banking institutions, signed the risk participation agreement to jointly facilitate SME financing. The facility has been designed on a 50-50 risk participation basis between the two organisations to improve overall commercial lending for the SME sector in Pakistan.<\/p>\n

Joanna Reid, Head of\u00a0DFID\u00a0Pakistan, while speaking about the partnership between Karandaaz and JS Bank said:<\/strong><\/p>\n

\u201cThis is an exciting new step in the UK\u2019s support to Pakistan\u2019s economic growth and improved business investment climate.<\/em><\/p>\n

\u201cI\u2019m proud of the agreement signed today as SME financing means more jobs for younger people, a skilled workforce and innovation I businesses. The UK is committed to support Pakistan to reduce poverty and achieve prosperity for all.\u201d<\/em><\/p>\n

Speaking at the occasion Mr. Ali Sarfraz, CEO Karandaaz Pakistan said:<\/strong><\/p>\n

\u201cIt is critical for broad-based economic and employment growth in Pakistan that the existing credit contraction is reversed and brought in line with comparable international benchmarks of at least 20-30 percent of banking assets directed towards SME financing. It is also crucial for commercial banks to develop viable credit models to lend to this vital agent of the economy.<\/em><\/p>\n

\u201cKarandaaz is glad to be partnering with JS Bank, one of Pakistan\u2019s most forward-looking banks, to introduce this financing for SMEs.\u201d<\/em><\/p>\n

JS Bank\u2019s CEO and President, Mr. Basir Shamsie stated:<\/strong><\/p>\n

\u201cLiving up to its commitment towards financial inclusion, innovation and customer-centricity, JS Bank is striving to introduce value added partnerships and offerings catering to SME financing. We currently offer a range of trade facilitation services, business loans, dedicated relationship managers and other convenience focused amenities to augment the banking experience for our SME clients. This risk participation facility with Karandaaz will aid further enhancement of our SME financing portfolio and cater to the needs of the market.\u201d<\/em><\/p>\n

 <\/p>\n

JS Bank has embarked on several initiatives to strengthen its product lineup including variants of value-added financial services and technology based solutions to expand its SME relationships. In addition to introducing specific products and services for SME financing, the bank has further enhanced its focus through its relationship lending model as well as operating through several dedicated hub branches across the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad-UK-funded company Karandaaz has signed an agreement with JS Bank to jointly make PKR 1 billion available for small and medium enterprise (SME) financing. Increased access to SME financing will create jobs, improve household incomes and boost economic growth at a macro-economic level in Pakistan. Karandaaz Pakistan, a company funded by the UK\u2019s Department for […]<\/p>\n","protected":false},"author":1,"featured_media":2222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34,24,91],"tags":[],"_links":{"self":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/2221"}],"collection":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/comments?post=2221"}],"version-history":[{"count":1,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/2221\/revisions"}],"predecessor-version":[{"id":2223,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/2221\/revisions\/2223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media\/2222"}],"wp:attachment":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media?parent=2221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/categories?post=2221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/tags?post=2221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}