ISLAMABAD: National Bank of Pakistan (NBP) has signed a memorandum of understanding (MoU) with Utility Stores Corporation (USC) to enhance the Prime Minister Youth Business Loan Scheme.
The applicant will become a part of the USC franchise and NBP will facilitate the financing. The franchisee has to be the resident of the same proximity intended for their businesses, and must have acquired minimum middle education and age brackets of 21-45 years. This MoU will assist applicants with no expertise but willingness to set up their own business.
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The representatives of National Bank at this MoU signing ceremony were Mudassir H Khan SEVP & Group Chief, Commercial & Retail Banking Group (C&RBG), S H Irtiza Kazmi EVP & Co-ordinator PMYBL, C&RBG, Nageen Rizvi VP & Unit Head Marketing & Promotions PMYBL, C&RBG. From USC Dr Mukhtar Ahmad Managing Director, Masood Alam Niazi Senior General Manager Franchise and other officials were present.
So far, over 5,811 successful applicants have been provided loans, collectively amounting to over Rs 4.15 billion. NBP is confident that this programme, apart from being beneficial for the bank, will also facilitate the SMEs in leading a positive multiplier effect, thereby yielding sustainable economic growth
