LAHORE: The Bank of Punjab (BOP) held the launch Ceremony of BOP e-Business Qarza for SMEs at BOP’s Head office, in Lahore. BOP e-Business Qarza is an End to End (E2E) Digital Lending Program for Existing BOP customers. Via this digital product, BOP aims to offer a Revolving Collateral Free credit facility up to Rs 3,500,000 to its customers.

This program is based on Artificial Intelligence (AI) and decision is made on the basis of a digital scorecard. This program is in line with the State Bank of Pakistan’s (SBP) vision to use relevant cash flow estimation techniques and other proxies to assess repayment capacity of SME borrowers.

Zafar Masud, President & CEO of BOP emphasized that the banking industry should come forward with products focusing on ease of finance for SMEs who usually suffer a lot on this front. He added that such initiatives would help lead towards socio economic uplift of SMEs particularly our small enterprises.

Other senior members of management were also present on the occasion and extended their heartiest congratulations to the Team on achieving this important milestone.

Copyright Business Recorder, 2022