KARACHI:
The International Finance Corporation (IFC) has signed an advisory agreement
with Meezan Bank to help boost access to Islamic finance for small and medium
enterprises (SMEs) for economic and employment growth in Pakistan, a statement
said on Monday.
The
agreement will help Meezan Bank utilise IFCs global expertise to scale up its
SME banking and improve its supply chain finance programme, to meet SME
financing needs. Supply chain finance is an innovative way to finance SMEs,
while leveraging the financial strength of bigger businesses.
“The
partnership with IFC will help us strengthen our footprint in the SME market as
the leading Islamic bank in the country and expand the reach of
Shariah-compliant products to this critical segment,” said Irfan Siddiqui,
chief executive officer of Meezan Bank.
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