Published On: Thu, May 17th, 2018
Published in Category: Peshawar

NBP takes initiative to alleviate poverty in tribal areas

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Peshawar: Governor Khyber Pakhtunkhwa Iqbal Zafar Jhagra has said that National Bank of Pakistan is assisting the government in alleviation of poverty in the country.

He was addressing a Rickshaw distribution ceremony that was held at Governor House on Wednesday.

Governor said that the President NBP & his team for the kind gesture and love with the people of KP. He appreciated the efforts made by NBP in promoting Islamic Banking which according to him was the preferred choice of the people of the province in general and tribesmen of tribal agencies in particular. He urged the President NBP to open Islamic banking branches almost at every agency headquarter to cater to the financial needs of the tribesmen in compliance with their religious faith. He said that NBP’s initiative is a gesture which is meant to help, serve and provide work for alleviation of poverty in the community as a whole. He hoped that this journey of love and affinity between NBP and tribal people will continue and will go together for a long time.

President NBP thanked the participant and said that NBP is “Nation’s Bank”. Our objective in opening branches in far flung areas mainly under Aitemaad Islamic Banking banners is to address the preference of the local communities and also to increase financial inclusion. He stated whenever he visits branches at length and breadth of the country, he sees the underserved and less privileged segment of the population, he feels that NBP should play its role in alleviating poverty and providing conducive environment to make lives better.

On behalf of the delegates and tribal people, the Masheran (elder) thanked President of NBP and Governor KP for this kind gesture and also opening of Islamic banking branches in the unbanked tribal areas. The President informed that NBP is already working with Akhuwat in implementing their loan schemes. He explained salient features of the bank’s PM Youth Business Loan Scheme and its importance and effectiveness, if followed and availed in true spirit. He also pointed out that NBP is keen to promote SME Sector for which SBP refinancing scheme is available to banks and which has a mark up rate of 6% for borrowers for a tenure of up to 10 years. There are special schemes for female borrowers.

KP Saima Rahim, the Regional Head of Aitemaad Islamic Banking of NBP said that she is addressing a popular demand in financing solar panel which are badly needed in tribal areas to address the power shortage. She said that NBP is working on introduction of special schemes for this purpose at reasonable profit rate.

At the concluding remarks, the President also mentioned about his initiative for the people of KP for which an MOU was signed with Provincial Housing Authority (PHA) for financing for low income housing scheme of KP Government (KHPAL KOR) both by conventional banking as well as using Sharia compliant Islamic mode of financing.

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