Meeting held to review progress on Micro Finance Banking for youth

PESHAWAR - A high level meeting presided over by Minister for Finance and Economic Affairs Ishaq Dar and Jumaat e Islami Ameer Sirajul Haq was held on Monday, regarding the launch of loan scheme for skillful male and female for purchase of small instruments and equipments to start small business ventures worth one billion rupees under Islamic Micro Finance Banking system in Khyber Pakthunkhwa.

The meeting deliberated on establishment of Micro Finance Division at Bank of Khyber (BoK) and various proposals for provision of vocational skills to unemployed youth came under discussion. Managing Director BoK Imran Samad, Sharia Advisor Abdus Samad, Additional Secretary Finance Kamran Khan and other senior officials were also present.

The meeting was briefed at length regarding establishment of Micro Finance Division, encouraging youths to launch their own business initially with support of BoK branches at Peshawar and Mardan divisions.

The finance minister was told that initially 5,50,000 unemployed youth of KP would benefit from this goal oriented scheme while different machines would be purchased for more than 0.8 million youth under Islamic Micro Finance Division that will enable them to get dignified jobs.

The BoK would get a nominal share from the profit while maximum profit would be given to businessmen. Senator Dar said that the government wanted to empower youth by providing best possible facilities at their doorsteps.

He directed the management of the bank to promote Islamic Micro Finance Banking in KP and make efforts for the betterment of low-income group and unemployed skillful youth.



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