KARACHI: Meezan Bank, a leading Islamic bank in Pakistan, has entered into strategic partnerships with the United Nations Industrial Development Organization - Investment and Technology Promotion Office, Bahrain (UNIDO-ITPO Bahrain), and the International Center for Entrepreneurship and Innovation (ICEI) to foster the growth of startups, women and youth-led businesses, and micro, small, and medium enterprises (MSMEs).
According to Meezan Bank Limited, the collaboration involves the establishment of a dedicated Focus Group within the bank, which will integrate Islamic finance with the Enterprise Development and Investment Promotion (EDIP) methodology. This initiative aims to provide structured advisory and non-financial services tailored to enhance the sustainability, competitiveness, and investment-readiness of Pakistani entrepreneurs and MSMEs.
The agreements were formalized through the signing of two exchanges of letters by Dr. Syed Amir Ali, President & CEO of Meezan Bank, Dr. Hashim Hussein, Head of UNIDO ITPO Bahrain, and H.E. Sheikh Ebrahim Bin Khalifa Al Khalifa, Chairman of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and ICEI.
The Focus Group's services will encompass enterprise development, business advisory, capacity-building, investment-readiness support, mentoring, technology linkages, market access, and business incubation. Meezan Bank will also offer referrals to appropriate financial products and services.
UNIDO ITPO Bahrain's role will involve advising on the establishment and operational framework of the Focus Group, transferring EDIP tools and methodologies, training bank staff, and connecting the group with national and international partners.
Dr. Syed Amir Ali emphasized the importance of combining financial and non-financial support to help businesses grow, while Dr. Hashim Hussein highlighted the potential of Meezan Bank's initiative to serve as a regional model for entrepreneurship support. Sheikh Ebrahim Bin Khalifa Al Khalifa expressed hopes for the initiative to transform promising ideas into sustainable businesses, thereby creating jobs and economic opportunities.