PM's Kamyab Jawan Scheme: Meezan Bank, Retailo sign MoU

KARACHI: Meezan Bank, the leading Islamic bank of Pakistan has recently inked a partnership with Retailo, the fastest growing B2B startup in the MENAP region.

The partnership is aimed at providing deserving retailers Kamyab Jawan financing in Shariah-compliant manner to expand and support their small businesses.

The MoU was signed by Group Head Consumer Finance Meezan Bank, Arshad Majeed and Wahaj Ahmed, Retailo's co-founder along with their teams.

This financing is sourced from Prime Minister Imran Khan's 'Kamyab Jawan - Youth Entrepreneurship Scheme (YES)' which is targeting young entrepreneurs and existing businesses. It will provide subsidized financing through 21 Commercial, Islamic and SME banks under the guidance and supervision of the State Bank of Pakistan.

Through this scheme, the Government of Pakistan aims to increase the contribution of aspiring entrepreneurs to the economy and remove obstacles from their path of progress by providing financial backing. This partnership between Meezan and Retailo will provide much-needed Shariah-compliant financial support to empower small business enterprises and unlock their full earning potential.-PR

Copyright Business Recorder, 2021