Karandaaz-JS Bank Risk Participation Agreement
The UK-funded Karandaaz has signed an agreement with JS Bank to jointly make PKR 1 billion available for small and medium enterprises (SMEs) financing. Increased access to SME financing will create jobs, improve household incomes and increase economic growth at a macro-economic level in Pakistan. Karandaaz Pakistan and JS Bank, one of Pakistan’s fastest growing banking institutions, signed the risk participation agreement to jointly facilitate SME financing. The facility has been designed on a 50-50 risk participation basis between the two organisations to improve overall commercial lending for the SME sector in Pakistan. Hear from CEO Karandaaz and JS Bank’s President and CEO, Mr. Basir Shamsie on why investing in SMEs is important for the over all economic growth of the country.