The Pakistan Banks' Association (PBA) unveiled strategic initiatives aimed at fostering financial inclusion and sustainability during a high-level meeting chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. According to a press statement released on Thursday, the session, attended by State Bank of Pakistan (SBP) Governor Jameel Ahmad and senior officials, showcased efforts to address critical challenges in agriculture, small and medium enterprises (SMEs), and digital innovation.
PBA Chairman Zafar Masud outlined several proposals developed in collaboration with the SBP to tackle pressing challenges in key sectors such as agriculture, small and medium enterprises (SMEs), and digital innovation. These proposals include Electronic Warehouse Receipt Financing to boost liquidity in the agricultural sector, Corporate Farming Financing to modernise farming practices, and the creation of an SME Index to track and support the growth of small and medium enterprises across Pakistan.
In the digital domain, Masud emphasised launching a venture capital fund to boost fintech innovation, reviving agricultural cooperatives for rural inclusion, and developing a data exchange for data-driven solutions.
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