The National Bank of Pakistan (NBP) is joining hands with local and international companies to benefit thousands of young entrepreneurs having so far borrowed over Rs 2.8 billion under the prime minister’s youth business loans (PMYBL).
Friday saw the NBP signing an MoU with a leading Chinese automobile firm, Al-Haj FAW Motors (Pvt) Ltd (FAW) at the bank’s head office.
The memorandum was inked by Mudassir H Khan, SEVP and Group Chief of Commercial and Retail Banking Group at NBP, and MD FAW Bilal Khan Afridi.
The others who witnessed the ceremony included SH Irtiza Kazmi, EVP and Coordinator – PMYBL, Commercial and Retail Banking Group, CEO FAW Hilal Khan Afridi, FAW’s director marketing Farhan Hafiz and deputy general manager marketing Imran Anwar.
NBP’s Kazmi told reporters that to date over 4,900 successful applicants had been provided loans collectively in excess of Rs 2.8 billion.
He said the growth of small businesses through access to formal financing channels was imperative for sustainable economic development.
The NBP being the largest public sector bank had over the years developed a variety of products to cater to specific market segments and enhanced financial inclusion, he added.
The bank, Kazmi said, shared the commitment of the federal government towards uplifting the youth and providing them opportunities of financial independence through self-employment. Since the announcement of PMYBL programme, the NBP had made significant progress in successfully implementing the scheme.
The Consumers Eye Pakistan appreciates that The National Bank of Pakistan (NBP) is joining hands with local and international companies to benefit thousands of young entrepreneurs
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