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KARACHI: Microfinance industry in Pakistan is a growing industry and it is currently serving approximately two million customers said Syed Samar Hasnain, Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan.

KARACHI: Syed Samar Hasnain, Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan said that the paid up capital requirement set by the central bank for the Microfinance banks is high. But it is necessary at the same time to ensure a sound financial system.

Poverty is one of the fundamental problems in developing countries. Poverty rate is quite high in all Muslim countries. The main causes of poverty are low household income, low means of production, high difference in income distribution, lack of skills, and inadequate access to employment opportunities.

KARACHI: The State Bank of Pakistan (SBP) has withdrawn the general provision requirements for loans extended by Microfinance Banks (MFBs) against gold or other cash collateral. In case of all other loans, SBP has reduced the general provision requirement for MFBs by 50 basis points.