SCCI urges banks to provide soft loans and improve lending ratio in KP

PESHAWAR
Sarhad Chamber of Commerce and Industry president Fazal Moqeem Khan urged commercial banks to provide soft loans for promotion of small and medium scale businesses, improve lending ratio and facilitate business community.
The SCCI chief also called for bringing down the current interest rate to single digit.
Fazal Moqeem was addressing during an awareness seminar on Islamic Banking jointly organised by SCCI and State Bank of Pakistan here at the chamber house.
The chamber president asked government and financial institutions to adopt business-friendly policies and play a role in revival of trade and economic activities to create employment opportunities and to lead the province on sustainable prosperity and progress.
Session was attended by SCCI senior vice president Abdul Jalil Jan, vice president Shehryar Khan, SBP Chief Manager Peshawar Waqar Ali, member of the BoK Sharia Board and eminent scholar Qazi Abdul Samad, former president Fuad Ishaq, executive committee members Aftab Iqbal, Muhammad Ashfaq, Saifullah Khan, Nadeem Rauf, former SVP Imran Khan Mohmand, and Abdul Majid Khan, Feroz Shah, Syed Ejaz Ali Shah, Atif Khawaja, Mazarul Haq, Asim Shahzad, Zahid Sultan Advocate, Rashid Iqbal Siddique, Secretary General Muqtasid Ahsan, various commercial banks managers and representatives.
Qazi Abdul Samad on occasion delivered a comprehensive presentation, highlighting the significance of Islamic banking while in opening remarks, SBP chief Manager Waqar Ali appraised participants about initiatives for creating awareness of Islamic banking.
The senior SBP official said the central bank is working on four key frameworks including regulatory, Sharia Governance, Outreach of Market Development, Basic Awareness, and collaboration with academia, industries and business.
Fazal Moqeem expressed grave concern over rising commercial banks’ deposits against lending their lending ratio in Khyber Pakhtunkhwa.
He said KP was marked as ‘red-zone’ by commercial banks, which is tantamount to discrimination with the business community and people of the province.
He said the lending ratio of commercial banks is very low.
SCCI chief stressed the need for provision of loans on easy terms to flourish business and industries in K-P.
Other office bearers and business community identified obstacles in availing of loans from commercial banks and demanded to simplify the process.