President and CEO of Meezan Bank, Dr. Syed Amir Ali, has announced that the bank will initially allocate a seed fund of PKR 10 million to provide venture-capital-style financing for startups recommended by the Korangi Association of Trade and Industry (KATI). Addressing industrialists at KATI, he said the financing facility is extended at the KIBOR rate, with no additional markup, offering much-needed early-stage capital to emerging businesses.
The event was attended by KATI President Muhammad Ikram Rajput, Acting Patron-in-Chief Zubair Chhaya, Senior Vice President Zahid Hameed, Vice President Muhammad Talha Ali, Standing Committee Chairman Rashid Siddiqui, Former Presidents and Chairmen Farhan-ur-Rehman, Farrukh Mazhar, Junaid Naqi, and senior representatives of Meezan Bank, including Salman Ahmed, Umar Warsi, Mashkoor Khan, and Uzair Akbar Soomro, along with a large number of industrialists and members.
Dr. Syed Amir Ali highlighted that Meezan Bank, which commenced operations in 2002, is now counted among Pakistan’s top five banks. He noted that the bank offers a range of products for industrialists, with supply chain financing being a flagship facility. Under this model, long-standing vendors, distributors, and suppliers working with industrial clients can access shipment-based financing on easy terms without collateral. He added that due to the bank’s digital integration with ERP and management systems, financing approvals can be processed within minutes. During the pilot phase, PKR 1.5 billion in financing has already been disbursed, with expectations that it will exceed PKR 3 billion. He encouraged KATI members to fully utilise these facilities and expressed Meezan Bank’s interest in jointly working with KATI on vocational training initiatives, particularly projects aimed at women’s empowerment.
Speaking on the occasion, KATI President Muhammad Ikram Rajput said that the Korangi Industrial Area serves as the backbone of Pakistan’s exports, employment, and industrial output. In this context, he emphasised the critical role of institutions such as Meezan Bank in actively supporting SMEs and large industrial units through Shariah-compliant working capital, trade finance, export facilitation, and value addition. He appreciated Meezan Bank’s vision of prioritising economic stability, business community confidence, and financial inclusion alongside profitability, noting that such an approach strengthens long-term ties between industry and the banking sector.
Rajput further stated that Shariah-compliant financing, specialised facilities for SMEs and the export sector, and industry-oriented banking solutions are vital for sustainable growth. He added that KATI members can leverage Meezan Bank’s expertise in Islamic banking to expand their businesses on a sound, sustainable foundation.
Acting Patron-in-Chief Zubair Chhaya described Meezan Bank as Pakistan’s largest Islamic bank and the preferred choice for customers in the banking sector. He pointed out that the local industry is facing severe challenges due to high interest rates, additional taxation, and escalating energy costs, making bank borrowing increasingly unviable for businesses. He stressed that SMEs, which form the backbone of large industries, face the greatest difficulty in accessing bank financing. He expressed confidence that if Meezan Bank extends greater facilitation to SMEs, it could significantly contribute to national economic growth. Chhaya also announced that KATI is ready to act as a brand ambassador for Meezan Bank and serve as a bridge between banks and industry to address banking issues and facilitate access to financing across the Korangi Industrial Zone and other industrial areas.
Standing Committee Chairman Rashid Siddiqui, in his address, suggested that banks could utilise their CSR initiatives to support vocational training and startup facilitation in industrial zones. Senior Vice President Zahid Hameed and Vice President Muhammad Talha Ali also shared their perspectives and experiences related to the banking sector.
