In a significant step toward strengthening Pakistan’s entrepreneurial ecosystem, BankIslami has entered into a strategic partnership with the Sindh Enterprise Development Fund (SEDF) to expand access to financing for small and medium enterprises (SMEs) across Sindh. The collaboration aims to support the long-term growth and sustainability of SMEs by providing targeted Islamic financing backed by government incentives.
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The agreement, formalized through a Memorandum of Understanding (MoU) at BankIslami’s headquarters in Karachi, brings together public and private sector efforts to tackle financing challenges for small businesses. Under this partnership, SEDF will offer KIBOR-based profit subsidies to make credit more affordable, while BankIslami will deliver tailored Shariah-compliant financing solutions.
The MoU signing ceremony was attended by senior representatives from both institutions, including Khizar Pervaiz, CEO of SEDF; Syed Qassim Naveed Qamar, Special Assistant to the Chief Minister of Sindh; Raja Khurram Shahzad Umar, Secretary Investment; Rizwan Ata, President & CEO of BankIslami; and Imran H. Shaikh, Deputy CEO of BankIslami.
“The Sindh government is committed to fostering an ecosystem that supports the growth of SMEs, which are the backbone of our economy. This partnership with BankIslami is a key step in providing the necessary resources for entrepreneurs, especially in sectors that have significant potential for job creation and sustainable development,” said Syed Qassim Naveed Qamar.
Rizwan Ata, President & CEO of BankIslami, added, “We are pleased to join hands with SEDF and play our role in driving sustainable economic growth in Sindh. At BankIslami, we are committed to creating an accessible and impactful financial system that makes Islamic financing easy and accessible for SMEs and small businesses. Through this initiative, we aim to foster innovation and economic progress, particularly in sectors with potential to drive economic growth.”
This public-private partnership is designed to unlock new opportunities for entrepreneurs by addressing barriers to capital and supporting capacity-building in high-potential sectors such as agribusiness, manufacturing, services, and technology. It also represents a concerted effort to align economic development with Islamic finance principles, ensuring inclusion, sustainability, and long-term impact.
As both organizations move forward with implementation, the collaboration is expected to create ripple effects across Sindh’s SME landscape—fueling job creation, encouraging innovation, and reinforcing the province’s economic resilience.
