JS Bank, Daraz partner to offer financing facility

KARACHI: JS Bank, one of fastest-growing banks in Pakistan, has signed a strategic partnership with Daraz, country’s leading ecommerce platform, to enhance support to sellers for their business expansion on Daraz marketplace through JS Kamyab Jawan Program, a statement said on Tuesday.

Through the partnership, JS Bank aims to offer businesses loans of up to Rs25 million to empower youth under its Kamyab Jawan Program.

The facility would cater to existing base of 63,000 plus sellers on Daraz marketplace and allow them to expand their business operations and manage smooth cash flows with support of the financing scheme, the bank said.

The agreement was signed between Atif Salim Malik, group head Retail Banking- JS Bank and Syed Zeeshan Ali, director Digital Payments, Daraz and signing ceremony was graced by senior officials from both the institutions.

Speaking at the occasion, Atif Salim Malik, said “From 2012, Daraz has come a long way and we are proud to be aligned with the country’s leading e-commerce platform. We look forward to this partnership to help sellers grow their business operations.”

“Through this collaborative effort, we are hopeful to create a long-term positive impact across the e-commerce ecosystem,” he added.

Syed Zeeshan Ali commented on the partnership, “Daraz continues to strengthen its ecosystem to accelerate growth for its sellers. We are excited to partner with JS Bank to provide financing solutions to Daraz sellers. JS Bank partnership will enable Daraz sellers to get access to capital under JS Bank’s Kamyab Jawan Programme.”