The alliance envisions to create synergies for development of SME centric programs, improve SME access to finance and extend advisory and training support to established SMEs and entrepreneurial incubation centers in universities across Pakistan. It enhances the scope of collaboration already carried out by the two organizations vis-a-vis regional helpdesks for SMEs to avail formal sources of financing through the bank.
This is the first hybrid collaboration between a private commercial bank and a government enterprise. The aim is to help in developing capacity building and provide networking facilitation for business entities to excel. The collaboration was greatly appreciated by the State Bank of Pakistan, which regularly promotes a SME centric mandate to banking institutions.
The MOU was signed by Mr. Atif Bajwa, CEO Bank Alfalah and Mr. Sher Ayud Khan, CEO SMEDA. The ceremony was attended by officials from the State Bank of Pakistan, representatives from Lahore Chamber of Commerce and Industry and the academia.
