While talking to Bank of Khyber Chief Executive Shamsul Qayum at CM Secretariat Sunday, Khyber Pakhtunkhwa Chief Minister Pervaiz Khattak said that provincial government has established first Islamic Microcredit Division by providing an amount of rupees one billion to facilitate small business entrepreneurs in the province.
Khattak said that the division would work under Bank of Khyber and facilitate about 100 thousands entrepreneurs by Islamic Micro Financing adding the ambit of scheme would further be increased keeping in view its success and acceptance.
Khattak said that establishment of microfinance bank proved a success in Bangladesh and if all the procedures and rules of micro financing are taken seriously it would be helpful to ameliorate socio economic condition of the people in the province.
He said that the scheme of Islamic Microcredit Financing would facilitate people by interest free loans for starting small businesses in their respective areas. He said that corruption has jeopardized the existence of our national institutions adding right from the beginning our government focused its energies to weed out this menace from the society.
