KARACHI: Soneri Bank Limited has entered into a formal arrangement with Elahi CMC Limited (ECMCL) which will create financing convenient and accessible to a broader range of customers and cost-effective.

Customers of Soneri Bank Limited will get credit facilities by placing the imported and locally produced goods, stocks and commodities in an independent warehouses network managed by ECMCL. This strategic alliance will not only increase accessibility to finance customers but also bridge the credit financing gap by creating a reliable end-to-end solution for the storage of stocks as effective security. The collaboration will facilitate all sorts of businesses inclusive of SMEs, Corporate and Commercial entities.

Elahi CMC Limited is the first CMC registered with the SECP under the new Collateral Management Regulations, 2019. Elahi group has been operating in the country since 1973 as a conglomerate with strong foothold with warehousing, logistics, inventory management and commodity trading.

Soneri Bank Limited is one of the fastest growing banks in Pakistan with its network of 300+ branches and ATMs nationwide providing a wide range of personalised, corporate, trade and Islamic financial services across the country. The bank since its inception has been working for the customers and truly envisions to create innovation and ease. SNBL believes in making banking simple for every customer so their banking experience stays Roshan Har Qadam!. The customers of Soneri Bank Limited shall greatly benefit from the arrangement for obtaining financing against the pledge of goods/stocks with ECMCL as custodian / registered collateral management company.—PR

Copyright Business Recorder, 2021