Sindh Bank Limited and Sindh Enterprise Development Fund Sign Institutional Collaboration Agreement

KARACHI: Sindh Bank Limited and Sindh Enterprise Development Fund (SEDF) have entered into a pivotal Institutional Collaboration Agreement, in a significant moveto enhance economic growth and promote strategic alliances.

The event was attended by Mr. M. Anwaar Sheikh, President & CEO (A) – Sindh Bank; Mr. Khizar Pervaiz, CEO – SEDF, Syed Assad Ali, Senior Executive Vice President and Regional General Manager for Sindh and Balochistan – Sindh Bank; Mr. Faisal Mujeeb, CEO – Special Economic Zone Authority; and Mr. Kabool Muhammad Khatian, member – SEDF Board of Directors.

This strategic alliance is designed to harness the combined strength and expertise of Sindh Bank and SEDF. Sindh Bank has strong presence with 200 of its 330 Branches located strategically in all districts of the Sindh particularly in the agriculture based areas.

On the occasion, Mr. Anwaar Sheikh President & CEO (A) Sindh Bank, stated, “We are pleased to collaborate with SEDF for making bank financing affordable and viable for setting up small and medium businesses in Sindh including Agriculture and IT related SMEs which have been marked as priority sectors at Regulatory level. SEDF initiative of reducing cost of financing substantially by subsidizing Kibor is a landmark step by Government of Sindh for development of SMEs in Sindh.

Mr. Khizar Pervaiz, CEO – SEDF, was also enthusiastic about the partnership, emphasizing that this agreement underscored their dedication to foster economic development in Sindh, by creating new opportunities and enhance sustainable growth of SMEs. He noted that SEDF was committed to offering markup subsidies to SMEs to bolster and encourage their expansion. Sindh Bank & SEDF place highest level of commitment to foster an environment conducive to the growth of SME, stimulate investment, boost employment and promote economic prosperity of Sindh Province.