BankIslami has partnered with the Sindh Enterprise Development Fund (SEDF) to promote and expand financing opportunities for small and medium enterprises (SMEs) across Sindh. Under this collaboration, both institutions aim to enhance financial access for SMEs. SEDF will offer financial incentives, including KIBOR-based profit subsidies, while BankIslami will provide tailored business financing to support the growth and sustainability of these enterprises.
The Memorandum of Understanding (MoU) was signed at BankIslami headquarters in Karachi, in presence of senior members from both organizations, including Khizar Pervaiz, CEO of SEDF; Syed Qassim Naveed Qamar, Special Assistant to the Chief Minister of Sindh; Raja Khurram Shahzad Umar, Secretary Investment; Rizwan Ata, President & CEO of BankIslami; and Imran H. Shaikh, Dy. Chief Executive Officer of BankIslami.
Syed Qassim Naveed Qamar, Special Assistant to the Chief Minister of Sindh, added: “The Sindh government is committed to fostering an ecosystem that supports the growth of SMEs, which are the backbone of our economy. This partnership with BankIslami is a key step in providing the necessary resources for entrepreneurs, especially in sectors that have significant potential for job creation and sustainable development.”
Rizwan Ata, President & CEO of BankIslami, commented: “We are pleased to join hands with SEDF and play our role in driving sustainable economic growth in Sindh. At BankIslami, we are committed to creating an accessible and impactful financial system that makes Islamic financing easy and accessible for SMEs and small businesses. Through this initiative, we aim to foster innovation and economic progress, particularly in sectors with potential to drive economic growth”.
This partnership highlights a successful public-private collaboration, driven by a shared ambition to catalyze sustainable growth in high-potential sectors. By equipping SMEs with the resources, tools, and financial support they need, both organizations are committed to enabling long-term success and economic resilience.
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About BankIslami
BankIslami Pakistan Limited, a subsidiary of JS Bank, operates one of the largest Islamic commercial banking networks in Pakistan, with over 540 branches across 210+ cities. As the first Islamic commercial bank to receive a banking license under the Islamic Banking Policy of 2003, BankIslami is a pioneer in Shariah-compliant retail, investment, and trade finance solutions. As part of the JS Group, BankIslami continues to lead innovation and inclusivity in Islamic banking. For more information, visit: https://bankislami.com.pk.
About SEDF
The Sindh Enterprise Development Fund (SEDF), established by the Government of Sindh, promotes investment in SMEs to drive economic growth and innovation. It fosters a supportive environment for entrepreneurs, enabling them to launch and grow businesses. By providing financial and technical assistance, sharing market insights, and promoting best practices, SEDF creates jobs, empowers women, and supports inclusive development across Sindh.
