SBP to work with LCCI for SMEs development, financial inclusion

LAHORE: Chief Manager of the State Bank of Pakistan, Ansar Iftikhar Butt, has said that the SBP will work closely with the Lahore Chamber of Commerce and Industry (LCCI) to promote SME development, enhance women’s financial inclusion, create awareness about Islamic banking and address forex-related issues.

Speaking at the LCCI, he said the central bank is working to increase SME financing and improve financial inclusion through seminars, training programmes and SME Baithaks at the grassroots level. Welcoming the SBP chief manager, LCCI President Faheem-ur-Rehman Saigol said the State Bank and the LCCI have jointly undertaken several important initiatives over the years. He termed the introduction of the Raast and QR code-based system for payment of LCCI membership fees as a major milestone.

Faheem appreciated the support extended by the State Bank Lahore team in resolving banking and financial issues faced by the business community. He said both the institutions would continue to work together for the development of SMEs, promotion of digital payments, provision of business-friendly banking services and strengthening the documentation of the economy.

Chief Manager SBP Ansar Iftikhar Butt said maintaining direct contact with the business community and understanding their issues remained one of the State Bank’s priorities. He appreciated the LCCI’s initiative of taking on board its members on the Raast platform and described the modern fee payment mechanism as a commendable step.

He said the SBP and commercial banks would continue to support the promotion of industry and trade. The SBP is paying special attention to women entrepreneurs and has introduced various schemes to enhance their financial inclusion. He added awareness sessions and other initiatives are being undertaken to promote Islamic banking, while joint seminars with the LCCI would also be organised to address foreign exchange-related issues.

He also assured the business community that the central bank would continue providing every possible support in resolving issues faced by businesses and would work closely with the LCCI for sustainable economic and commercial growth.

Copyright Business Recorder, 2026