Meezan Bank, Pakistan’s first and largest Islamic bank and Institute of Business Management (IoBM), Karachi recently signed a Memorandum of Understanding to facilitate capacity building in the country’s Small and Medium Enterprises (SME) sector. The MoU highlights a collaborative framework for launching specialized MBA Program in ‘SME Banking & Entrepreneurship’. On hand to officiate the signing ceremony were Mr. Talib S. Karim – President, IoBM as well as Mr. Irfan Siddiqui – Founding President & CEO, Meezan Bank, who were also accompanied by Mr. Imran Ahmad – Additional Director, State Bank of Pakistan.
Meezan Bank’s recent association with the International Finance Corporation (IFC) for provision of advisory and technical services for SME business vertical has been further extended to engage the country’s academia. The specialized MBA Programs are therefore being designed to meet requirements of both young entrepreneurs and SME bankers in the country. This collaboration will allow structuring of a program that covers challenges of SME industry such as cash flow lending, program lending, trade financing, value chain financing and SME advisory.
Speaking at the occasion, Mr. Irfan Siddiqui said, “Meezan Bank’s collaboration with IoBM has the potential to assist and support SMEs in building their capacity and capabilities. We are hopeful that the finished product will not just benefit Meezan Bank but the entire Islamic banking industry by assisting the development of skilled resources in Pakistan.”