28rd February 2020: Driving the vision of SME growth across Pakistan, JS Bank, one of Pakistan’s fastest growing financial institutions has signed a Memorandum of Understanding (MoU) with National Incubation Center (NIC), a social initiative that is engaged in helping entrepreneurs through offline and online education and capacity building.
Under this MoU, JS Bank will collaborate with NIC to provide tailor made financing facilities to entrepreneurs to help them establish and build their own businesses. One of the key products in this lineup is JS Khud-Mukhtar, a one-window solution that provides women with easy access to business loans of up to Rs. 1.5 million, at a subsidized markup rate of 5% per annum.
Commenting on the occasion, Syed Tauqir Haider Rizvi, Business Head CRBG North – JS Bank stated “Our alliance with NIC is another step in our drive to promote entrepreneurship through the provision of easy, simple and convenient financing options to SME’s. Such alliances are crucial for the development of the SME sector which will ultimately contribute towards our national economy.”
Parvez Abbasi, Project Director – National Incubation Center expressed his views stating, “Numerous entrepreneurs come to us with impressive business plans and looking for the right financial facility to expand or start their businesses. JS Bank’s SME financing services will be a great support to help them obtain the funds they need to set up or grow their businesses. We look forward to working with JS Bank for the betterment of the economy.”
Committed towards its role as a catalyst towards the progress and prosperity of Pakistan, the Bank hopes to continue this journey
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About JS Bank:
JS Bank is one of the fastest growing banks in Pakistan, with 360 branches in 180 cities including one international branch. The Bank is a leader in the digital banking space and distribution of insurance solutions. JS Bank has been recognized on multiple international and national forums including the prestigious AsiaMoney, Asian Banking and Finance, DIGI and Pakistan Banking Awards. The Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups. For more information, please visit http://www.jsbl.com
About National Incubation Center
The National Incubation Center is Pakistan’s largest technology incubation center; the first purpose built creative space in Pakistan buzzing with innovators, mentors, change-makers and passionate leaders. National Incubation Center main purpose is to build and influence an ecosystem by empowering individuals and institutions to generate a positive economic and social impact. It’s a living example of a successful public-private partnership between the ministry of IT & Telecom, ignite – National Technology Fund, Jazz and Team up. The National Incubation Center in Islamabad is led by two unicorn founders with around decades of combined experience in setting up organizations from scratch and bringing digital revolution in Pakistan. https://nicpakistan.pk
