Meezan Bank became the first and only Islamic bank to disburse Rs 1 billion under Prime Minister’s Kamyab Jawan – Youth Entrepreneurship Scheme (PMKJ-YES) for Small and Medium Enterprises (SMEs).
Special Assistant to the PM on Youth Affairs Usman Dar and MPA Haleem Adil Sheikh graced the ceremony hosted by Founding President & CEO Meezan Bank Irfan Siddiqui and Deputy CEO Ariful Islam at the Bank’s Head Office located in Karachi. The event was also attended by the PMKJ-YES teams and senior management of the Bank.
PMKJ – YES will allow access to Islamic finance to those SMEs who, despite being credit-worthy, are unable to avail financing due to various documentary and collateral related issues. Under this scheme, Meezan Bank will extend Shariah-compliant financing facilities up to Rs 25 million to eligible customers at subsidized rates.
Irfan Siddiqui reiterated that Meezan Bank, following its vision of establishing ‘Islamic banking as banking of first choice’ stands committed to the Government of Pakistan and State Bank of Pakistan in playing a key role in the success of Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme and other projects to promote financial inclusion, by providing shariah-compliant financing products and solutions.