PBA signs an MoU with SMEDA to boost SME Growth in Pakistan by increasing access to SME financing in the presence of the Federal Minister of Industries and Production, Rana Tanveer Hussain, at SMEDA Head Office in Lahore.
SMEDA-PBA MoU aims to empower SMEs by enhancing their bankability through joint initiatives, including capacity building, information sharing, and research on SME clusters and sectors. The collaboration also focuses on raising awareness about government-subsidized financing schemes, improving financial literacy, and advocating for policies that support SME growth. Additionally, efforts will include enhancing financial inclusion by improving women entrepreneurs’ access to finance through financial literacy programs.
Chairman PBA, Zafar Masud expressed a firm commitment to execute the objectives set in the SMEDA-PBA MoU. He stated, “PBA is confident that the collaboration with SMEDA will facilitate easier and enhanced access to capital to the SME sector, a priority area of financing for the banking industry and a critical driver for Pakistan’s economic development.”
SMEs: SMEDA, PBA to enhance access to finance
LAHORE: The Small and Medium Enterprises Development Auth ority (SMEDA) and Pakistan Banks’ Association (PBA) inked a Memorandum of Understanding (MoU) to enhance access to finance for the growth and sustainability of the SMEs today in the presence of the Federal Minister Industries and Production Rana Tanveer Hussain at SMEDA Head Office.
The event was attended by Saif Anjum, Federal Secretary MoIP, Socrat Aman Rana, CEO SMEDA, and Zafar Masud, Chairman PBA, along with business heads from HBL, BOP and JS Bank. Financial Services team from B&SDS Division SMEDA and other senior officials from both organisations were also present on the occasion.
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SMEDA-PBA MoU Press Release
The Small and Medium Enterprises Development Authority (SM EDA) and Pakistan Banks’ Association (PBA) inked a Memorandum of Understanding (MoU) to enhance access to finance for the growth and sustainability of the SMEs today in the presence of the Federal Minister lndustries and Production Rana
Tanveer Hussain at SMEDA Head Office. The event was attended by Mr. Saif Anjum, Federal Secretary
MOIR Mr. Socrat Aman CEO SMEDA, and Mr. Zafar Masud, Chairman PBA, along with business heads from HBL, BOP and JS Bank. Financial Services team from B&SDS Division SMEDA and other senior officials from both organisations were also present on the occasion.
The partnership aims to empower SMEs by enhancing their bankability through joint initiatives, including capacity building, information sharing, and research on SME clusters and sectors. The collaboration also focuses on raising awareness about government-subsidized financing schemes, improving financial literacy, and advocating for policies that support SME growth. Additionally, efforts will also include enhancing financial inclusion by improving women entrepreneurs’ access to finance through financial
literacy programs.
Commenting on the partnership, Federal Minister Rana Tanveer Hussain said
“The partnership of SMEDA with financial institutions aims to address the existing challenges through shared resources, knowledge, and expertise. This strategic alliance between PBA and SMEDA demonstrates our dedication to empowering SMEs by fostering financing opportunities, enhancing capacity building, and establishing a strong ecosystem to bridge financial gaps and integrate SMEs into the formal financial system.”
Federal Secretary of Industries and Production, Mr. Saif Anjum, in his address, appreciated the collaboration adopted by SMEDA and PBA for promoting SME financing. He termed the MoU a major step forward in strengthening Pakistan’s SME ecosystem and hoped that both organizations would focus on improving SMEs’ access to finance through mutual commitment and shared responsibility. He assured to extend the fullest support from the Ministry of Industries and Production to bring positive outcomes of SMEDA and PBA’s partnership for enhancing SME financing.
Earlier, CEO SMEDA – Mr. Socrat Aman Rana welcomed the guests and highlighted objectives of the SME-
DA-PBA MoU He informed that SMEs contribute 40% of the GDP of Pakistan and 25% of overall exports,
besides providing 78% of non-agriculture sector employment. However, access to formal finance has been a major barrier to SME growth, particularly in underserved and marginalized areas, he added and said that the MoU with PBA is a positive start to meet this challenge that would be maintained with regular reviews and close collaboration of the two organizations for enhancing SME support.
Chairman PBA, Mr Zafar Masud expressed a firm commitment to execute the objectives set in the SMEDA-PBA MoU He stated,
“PBA is confident that the collaboration with SMEDA will facilitate easier and
enhanced access to capital to the SME sector, a priority area of financing for the banking industry and a critical driver for Pakistan’s economic development.”
SMEDA-PBA MoU
The Small and Medium Enterprises Development Authority (SMEDA) and Pakistan Banks’ Association (PBA) inked a Memorandum of Understanding (MoU) to enhance access to finance for the growth and sustainability of the SMEs today in the presence of the Federal Minister Industries and Production Rana Tanveer Hussain at SMEDA Head Office.
The event was attended by Mr. Saif Anjum, Federal Secretary MoIP, Mr. Socrat Aman Rana, CEO SMEDA, and Mr. Zafar Masud, Chairman PBA, along with business heads from HBL, BOP and JS Bank. Financial Services team from B&SDS Division SMEDA and other senior officials from both organisations were also present on the occasion
Source: SMEDA LinkedIn Post
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