Meezan Bank will collaborate with the State Bank of Pakistan (SBP) in the implementation of the Financial Inclusion Programme by providing it with technical services and support, a statement said on Friday.
It has signed an agreement with the SBP and Edbiz Consulting, which will help the UK Aid-sponsored programme achieve its objective of bringing innovation in rural and agricultural finance.
Under this project, Edbiz Consulting will establish a Modaraba for rural and agricultural financing, with Akhuwat being the partner micro-finance service provider. Being the knowledge partner, Meezan Bank will provide Shariah technical services and support, including capacity building, public awareness seminars, rural and agricultural research, product development, Shariah audit and branchless banking services.
The six-month pilot project will pave way for developing Meezan Bank’s rural, agricultural and micro-financing portfolio.
Published in The Express Tribune, September 27th, 2014.
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