These Banks Will Roll Out Collateral-Free Loan Scheme for SMEs-State Bank of Pakistan

 

    

These Banks Will Roll Out Collateral-Free Loan Scheme for SMEs-State Bank of Pakistan

The Governor of the State Bank of Pakistan, Dr. Reza Baqir, announced that banks have shown an overwhelming response to an innovative financing scheme for unsecured loans to SMEs introduced by the State Bank and supported by the Government of Pakistan.

The banks have been selected through a transparent bidding process based on prescribed criteria. While appreciating the enthusiastic response from the banks, Dr. Reza Baqir, Governor of the State Bank, emphasized the early implementation of the plan by the banks. He also underlined the importance of wide awareness and commercialization of the scheme for SMEs to fully reap its benefits.

Of the 20 banks that competed to participate in this scheme, 8 banks in four categories have been selected based on the largest amount of financing and the largest number of SME clients to be served.

This is the first time that the State Bank of Pakistan has introduced a comprehensive loan scheme for SMEs without collateral in the country. These categories include large banks, midsize banks, small banks, and banks in collaboration with fintech. The winning banks are.

• Habib Bank Ltd
• United Bank Ltd
• Bank Alfalah Ltd
• The Bank of Punjab
• Allied Bank Ltd
• Meezan Bank Ltd
• JS Bank Ltd
• The Bank of Khyber

These banks have been selected through a transparent bidding process based on prescribed criteria. While appreciating the enthusiastic response from the banks, Dr. Reza Baqir, Governor of the State Bank, emphasized the early implementation of the plan by the banks. He also underlined the importance of wide awareness and commercialization of the scheme for SMEs to fully reap its benefits.