Small and Medium Enterprises (SMEs) are vital to economic and social progress. According to the State Bank, SMEs contribute 30 percent to Pakistan's GDP, driving economic growth and job creation. Karandaaz is committed to enhancing access to finance for SMEs and this agreement with ORIX will contribute to achieving this target. This loan facility from Karandaaz will benefit over 160 small businesses, creating approximately 850 new jobs, and increasing revenue for the partner businesses by Rs 4.4 billion.
Ali Sarfraz, CEO Karandaaz Pakistan said "We believe that this loan facility from Karandaaz will enable ORIX to enhance its focus on small enterprises, in line with its credit model and business strategy. This is one of many such initiatives that Karandaaz Pakistan has undertaken to promote inclusive economic growth, job creation, and improved incomes through greater financial inclusion of Pakistanis."