President and CEO of BankIslami, Rizwan Ata, highlighted the importance of a strong relationship between the banking and industrial sectors for Pakistan’s economic growth, emphasising the need for enhanced financial support for small and medium enterprises (SMEs). He shared these insights during a visit to the Korangi Association of Trade and Industry (KATI), attended by senior representatives from both organisations.

Ata stated that sustainable economic progress relies on a robust industrial base supported by a stable financial system. He affirmed BankIslami’s commitment to offering Shariah-compliant, efficient financial solutions tailored to the industrial sector, particularly SMEs. He noted that Islamic banking not only provides interest-free financing but also fosters real economic activity.

He encouraged stakeholders to leverage Pakistan’s positive investment outlook, mentioning that policymakers are addressing economic challenges, which could facilitate faster growth. KATI President Muhammad Ikram Rajput pointed out ongoing challenges in the industrial sector, specifically limited access to financing, and emphasised the need for affordable and timely financial support from banks like BankIslami.

Deputy Patron-in-Chief Zubair Chhaya stressed that collaboration between banks and industry is essential for economic development, urging BankIslami to introduce dedicated schemes for the Korangi industrial zone. KATI’s standing committee Chairman, Rashid Siddiqui, called for flexible banking policies that address industrial needs. During the session, industrialists proposed improved financing procedures, competitive profit rates, and specialised packages for exporters. BankIslami officials assured that participant feedback would be prioritised, reaffirming their commitment to foster cooperation between the banking and industrial sectors for Pakistan’s economic development.