JS Bank partners with Adaptive Technologies

JS Bank partners with Adaptive Technologies for Solar Financing

BUSINESS

KARACHI – JS Bank has joined hands with Adaptive Technologies under the State Bank of Pakistan’s (SBP) scheme of renewable energy for financing solutions targeted towards JS Smart Roshni, for Small & Medium Enterprises, JS GharApna Solar Panel Financing for residential sector and JS Zarkhez Solar Tubewell for farmers.

The collaboration between JS Bank and Adaptive Technologies will form a system of mutual values and growth which will assist both the residential, agricultural and commercial sectors to reduce their dependence on the national energy grid and save on their electricity bills through usage of renewable energy. These loans will be provided on rebated basis at a flat 6% mark-up rate.

Commenting on the occasion, Babbar Wajid, Business Head Consumer Banking & Product Management JS Bank said, “Our partnership with Adaptive Technologies reflects our increased focus on alternate and renewable energy such as solar power which is a key element of improving air quality and the sustainability of the mix of the country’s energy sources. I’m very confident that our products will help customers to reduce their dependence on the grid for their energy requirements and utilize sustainable sources of energy.”

Shaaf Abdul Aziz Mehboob Director Adaptive Technologies is optimistic about prospects and commented “the future of energy in Pakistan will surely be driven mainly by renewables due to the rising cost of conventional fuels and declining cost of alternatives. At present, one of the main obstacle has been access to financing, which is now a thing of the past with JS Bank’s solar financing scheme.”

By undertaking such innovative and business building partnerships, JS Bank remains committed towards its role as a catalyst in the entrepreneurial ecosystem of Pakistan.