PESHAWAR: State Bank of Pakistan (SBP) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Khyber Pakhtunkhwa Region have agreed to work with mutual understanding and cooperation on various socio-economic projects including small and medium enterprises (SMEs).

In this connection, a meeting was held between Provincial Coordinator of (FPCCI), Sartaj Ahmed Khan and Chief Manager SBP Ishtiaq Ahmed in this regard, said a press release issued here. Deputy Chief Manager Sulaiman Khan and Loan Officer Saleemullah Khan also attended the meeting.

In the meeting, various aspects were discussed and suggestions were made keeping in view the economic development in the province. Both parties agreed for strengthening of Pak-Afghan trade relations and the promotion and support of SMEs and utilization of all available resources for the purpose.

Speaking on the occasion, the Coordinator FPCCI, Sartaj Ahmed Khan said that the promotion of trade between Khyber Pakhtunkhwa and its adjacent neighboring countries, especially Afghanistan, has become the need of the hour. Apart from this, the creation of awareness was also considered necessary to ensure support in all aspects of discouraging the usury system and the importance of Islamic banking and other aspects related to economic development, in which small and medium enterprises are also at the forefront.

Both parties also agreed to the proposal of conducting research based informative training sessions. In order to achieve the above objectives, State Bank Chief Manager Ishtiaq Ahmed assured the FPCCI of all possible cooperation and mutual understanding. Appreciating the proposal to move forward, he assured the FPCCI for support to implement the promotion of Islamic banking to eradicate usury from the business activities.

Copyright Business Recorder, 2023