Lahore: The Lahore Chamber of Commerce and Industry organized the SME Finance and Banking Expo on Thursday to facilitate small and medium enterprises (SMEs) in accessing banking facilities, financing schemes, and financial products. The event aimed at bridging the gap between SMEs and financial institutions, offering them direct access to resources that are crucial for business growth.
The expo drew participation from nearly all major commercial banks, Islamic banks, and financial institutions across the country. Various banks established stalls, attracting numerous LCCI members who explored SME-focused financing products, refinance schemes, credit facilities, Islamic finance models, and digital banking solutions.
LCCI President Faheem Ur Rehman Saigol, along with State Bank of Pakistan Executive Director Syed Basit Aly, SBP Chief Manager Tariq Riaz, and other LCCI officials, inaugurated the event. The presence of key financial figures underscored the significance of enhancing SME financing in Pakistan’s economic landscape.
Syed Basit Aly highlighted the priority placed on the SME sector by both the government and the State Bank of Pakistan. He emphasized the central bank’s efforts to collaborate with banks to eliminate barriers in SME financing and introduced new, principle-based prudential regulations to assist banks in this endeavor.
Aly explained that the country’s banking system has traditionally relied on collateral-based lending with limited risk-taking. However, the SBP is working to transition toward cash-flow and business-model-based financing. He also mentioned the SBP’s collaboration with international financial institutions to develop viable financial products, aiming to better serve the SME sector.
The expo provided a valuable platform for SMEs to engage with financial institutions and explore opportunities that could enhance their business operations and contribute to economic growth.