LAHORE: The Lahore Chamber of Commerce and Industry organised the SME Finance and Banking Expo with the objective of providing small and medium enterprises (SMEs) direct access to banking facilities, financing schemes and financial products.
The day-long expo witnessed participation from almost all major commercial banks, Islamic banks and financial institutions of the country.
Various banks set up stalls where a large number of LCCI members visited and obtained detailed information about SME-focused financing products, refinance schemes, credit facilities, Islamic finance models and digital banking solutions.
LCCI President Faheem Ur Rehman Saigol, State Bank of Pakistan Executive Director Syed Basit Aly, SBP Chief Manager Tariq Riaz, and LCCI office bearers inaugurated the event.
Syed Basit Aly said that the SME sector is a top priority for both the government and the SBP. He stated that the SBP is working closely with banks to remove obstacles in SME financing and has introduced new, principle-based prudential regulations to facilitate banks in this area.
He explained that Pakistan’s banking system has traditionally been collateral-based with limited risk-taking, but the SBP is working to gradually shift financing toward cash-flow and business-model-based lending. He added that the SBP is also developing viable products in collaboration with international financial institutions.
