Bank of Punjab takes lead in loan disbursement to youth
The Bank of Punjab (BOP) has become the first bank in
Pakistan that has started disbursing loans under the Prime Minister’s Youth
Business & Agriculture Scheme (PMYB&ALS).
The bank has so far disbursed PKR 100 million to National
Rural Support Program (NRSP) under Tier-1 of the scheme for lending to small
businesses and farmers. The bank offers both Shariah-compliant and conventional
financing solutions to benefit a large number of borrowers.
Meanwhile, BOP is already leading in terms of disbursements
and approvals under Tier-2 & Tier-3 among participating banks. The
government of Pakistan through State Bank of Pakistan had launched PMYB&ALS
to promote entrepreneurship through subsidized financing to small businesses,
agriculture, and livestock sectors.
According to Zafar Masud, President & CEO, the bank is a
proud partner of the government for promoting entrepreneurship. He said this is
an effective tool for financial inclusion to promote entrepreneurship.