The Governor State Bank of Pakistan, Mr. Yaseen Anwar has advised banks to devise strategies for promotions of SMEs, keeping in view the unemployed youth force of the country. He was addressing a meeting of presidents & CEOs of banks and microfinance banks.
He advised that banks should design their strategies targeting unemployed youths for availing funding on merit basis for starting up or expanding their existing business.
Referring to Prime minister’s youth loan scheme, he urged all commercial banks to participate in scheme on active basis for exploring and tapping youth entrepreneurs’ market. He also said that banks should report these loans in their annual reports under Corporate Social Responsibility (CSR), keeping in view State Bank’s instructions given on the subject.
Mr. Yaseen Anwar, also highlighted different achievements made in banking sector during the year 2013 despite to difficult economic conditions in the country. Due to improvement in financial stability as a result of steps taken by SBP, Moody’s have changed Pakistan’s negative rating into positive one. Branchless banking and financial inclusion are some of other achievements shared with bankers.
While addressing to the members of Pakistan Banks association, the governor also advised them to provide their feedback on Section 15 of financial institution ordinance 2001 and also to provide suggestions for smooth recovery of finances. Newly appointed Deputy Governor Mr. Saeed Ahmad was also introduced with bankers present at the occasion.