Karandaaz joins SME forum

ISLAMABAD: Karandaaz Pakistan has joined the global members’ network of SME Finance Forum, an international organisation that works to expand access to finance for mirco, small, and medium enterprises (MSMEs), an announcement said on Tuesday.

The members are SME financing experts from 80+ countries which share a common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.

“We are delighted to welcome Karandaaz to further grow our mission,” said Matthew Gamser, CEO of the SME Finance Forum.

Dr. Shamshad Akhtar, chairperson of Karandaaz Pakistan, said, “Since its inception, Karandaaz has been working on several initiatives to facilitate access to finance for Pakistan's MSMEs and we hope that through this membership, we can learn about the latest initiatives and tools helping to improve access to finance for SMEs.”

The company was promoting financing for sustainable and climate-friendly projects including, but not limited to, renewable energy, energy efficiency, green buildings, clean transportation, and waste management, he added.

He was of the opinion the latest development would further augment their multifaceted interventions aimed at easing financial intermediation in the country by bridging gaps in financial sector architecture and product offerings and assisting with and advocating for regulatory enhancements.

Karandaaz Pakistan is the implementation partner of the Enterprise and Asset Growth Programme (EAGR) of the UK's Foreign, Commonwealth & Development Office (FCDO). It promotes access to finance for MSMEs through a double bottom line investment platform and financial inclusion for individuals by employing technology-enabled solutions.