Meezan Bank lends Rs1 billion under youth scheme

Meezan Bank lends Rs1 billion under youth scheme

KARACHI: Meezan Bank Limited has disbursed Rs. 1 billion under Prime Minister’s Kamyab Jawan – Youth Entrepreneurship Scheme (PMKJ-YES) for Small and Medium Enterprises (SMEs), a statement said on Friday

Usman Dar, Special Assistant to the Prime Minister on Youth Affairs and Haleem Adil Sheikh, Member of the Provincial Assembly of Sindh graced the ceremony hosted by Irfan Siddiqui, Founding President & CEO – Meezan Bank and Ariful Islam, Deputy CEO – Meezan Bank at the Bank’s Head Office located in Karachi. The event was also attended by the PMKJ-YES teams and senior management of the Bank.

READ MORE: Meezan Bank announces 26% growth in annual profit

PMKJ – YES will allow access to Islamic finance to those SMEs who, despite being credit-worthy, are unable to avail financing due to various documentary and collateral related issues. Under this scheme, Meezan Bank will extend Shariah-compliant financing facilities of up to PKR 25 million to eligible customers at subsidized rates.

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Irfan Siddiqui reiterated that Meezan Bank, following its Vision of establishing ‘Islamic banking as banking of first choice…’ stands committed to the Government of Pakistan and State Bank of Pakistan in playing a key role in the success of Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme and other schemes to promote financial inclusion, by providing Shariah-compliant financing products and solutions.

READ MORE: Meezan Bank starts Islamic financing scheme for SMEs

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