State Bank of Pakistan is working on the development of Micro finance strategy with greater inclusive financial services. This will help in meeting increasing challenges faced by Micro Finance sector. While attending a seminar arranged by a Swiss agency, the Acting Governor Mr. Yaseen Anwar said that “The new strategy will help industry in strengthening its fundamentals by developing infrastructure required for sustainable growth”. These new strategic moves will help the micro finance institutions in improving the areas of deposit mobilization, increasing advances volume and encouraging regional and provincial micro finance organizations.
He also added that State Bank is also taking important measures to counter the worse impact of floods on the economy and financial institutions. The micro finance sector has remained almost stagnant for the last one and half year.
The Swiss Agency for Development and Cooperation has formed a partnership with SBP in the areas of micro finance and leasing. The Governor also said that a Micro finance credit guarantee worth 10 million GBP has also been setup, for increasing wholesale funds for MFBs and MFIs.