Karachi : The Bank of Punjab (BOP) and the Sindh Enterprise Development Fund (SEDF) officially entered into an Agreement today at BOP’s Corporate office, Sky Tower, Clifton, Karachi. The purpose of this
collaboration is to jointly provide project-based credit facilities to the Priority Business Segments
identified by SEDF in the Province of Sindh at subsidized rates. This shall not only leverage the collective
strength and expertise, but shall also create conducive environment for the growth of SMEs, attract
investments and drive economic prosperity in the Sindh Region.
During the signing ceremony, Mr. Zafar Masud, President & CEO of BOP, and Mr. Khizer Pervaiz, CEO of
SEDF, took into consideration the economic growth and acceleration opportunities that this partnership
offers to the Sindh Province. Mr. Masud commended SEDF’s initiative to grant Markup subsidies to the
eligible borrowers in Sindh, emphasizing how it would support their growth in the midst of the
challenging economic conditions.
Mr. Masud reiterated BOP’s commitment towards the Small and Medium Enterprises (SMEs),
highlighting the bank’s recent recognitions at the Pakistan Banking Awards (PBA) in 2023 as well as in
2022 as “The Best Bank for Small & Medium Business.” Additionally, BOP was recognized as “The Best
Bank for SMEs in Pakistan” by Asia Money in 2023. Mr. Masud attributed these accolades to the bank’s
overarching strategy of promoting financial inclusion through the efficient use of modern tools and
offering tailored solutions to SMEs, along with real-time digital banking solutions. He appreciated SEDF’s
initiative to provide even additional amount of markup subsidy for Women Borrowers, a neglected
segment. With this collaboration BOP shall not only capitalize on this market segment but shall also
continue to foster its gender balancing agenda, where BOP has already taken an Initiative as the joint
Lead Arranger for the launch of Pakistan’s First Gender Bond.
Mr. Khizer Pervaiz, CEO of SEDF, expressed his appreciation for BOP’s efforts in extending financial
inclusion opportunities to SMEs. He emphasized the pivotal role SMEs play as the backbone of the
country and said that the arrangement was a testament to their commitment to catalyze economic
growth in Sindh. By partnering with The Bank of Punjab, they aim to unlock new opportunities and
contribute towards sustainable development of SMEs in the region. He further highlighted that SEDF is
dedicated to providing markup subsidy to SMEs as part of its effort to support and incentivize the
growth of these vital contributors to local economy.
The senior management of both institutions congratulated their respective teams on achieving this
significant milestone during the ceremony.
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