National Bank of Pakistan and SMEDA signs MOU

Karachi, April 07, 2021 (PPI-OT): On Monday, April 5th, 2021, National Bank of Pakistan (NBP) and Small and Medium Enterprises Development Authority (SMEDA) inked a broad-based Memorandum of Understanding (MoU) to promote Financial Inclusion, Diversity and Development of Small and Medium Enterprises (SMEs) in the country.

The MoU was signed by Arif Usmani, President and CEO NBP and Hashim Raza, Chief Executive Officer SMEDA. Senior Officials of both organizations also attended the signing ceremony. Mr. Usmani emphasized NBP’s commitment to become the Nation’s leading Bank for promoting sustainable growth and inclusive development.

During the MoU signing ceremony both NBP and SMEDA representatives agreed that there is a dire need to promote small and medium businesses’ growth in Pakistan as these account for 80% percent of non- agricultural labour force while their ability to access bank financing is generally very limited. The core objective of this collaboration is to create awareness and outreach of non-financial advisory services for young entrepreneurs, small businesses, agriculture growers, women entrepreneurs and other SMEs in Pakistan.

Both the organizations would organize financial literacy awareness and entrepreneurship training programs for students of vocational and technical institutions in collaboration with community organizations NGOs, chambers of commerce and industry (CCIs) and trade associations. Furthermore, efforts would also be made to work with universities in the country to motivate and support students and fresh graduates for managing business start-ups. The MoU would also enable the NBP staff to have adequate knowledge and training to provide non-financial advisory services.

For more information, contact:
Vice President / Divisional Head (A)
National Bank of Pakistan (NBP)
Corporate Communication and Brand Management Division
Head Office, NBP Building, I.I. Chundrigar Road,
Karachi, Pakistan
Tel: +92-21-99220773
Cell: +92-300-8202184
Fax: +92-21-99212734

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