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HBL and Akhuwat Islamic Microfinance Sign an Agreement to Provide Interest-Free Financing Under PMYB&ALS

BY Shahzad Saeed Jun 01, 2023. 09:36 pm UPDATED: Jun 01, 2023. 09:36 pm

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A contract between HBL and Akhuwat Islamic Microfinance provides individuals and small businesses with interest-free financing through the Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB&ALS). With the potential to significantly improve the lives of numerous people, the partnership marks an important turning point in HBL’s effort to promote social and economic progress.

Khaqan Khan, Head of Financial Institutions and Global Remittance Business – HBL expressed his appreciation for the partnership by saying, “We are pleased to work with Akhuwat Islamic Microfinance and extend interest-free financing through the PMYB&ALS scheme. This collaboration demonstrates HBL’s unwavering dedication to advancing financial inclusion and bettering the lives of people at both the individual and community levels. This agreement is yet another important step toward our goal of empowering entrepreneurs and enabling them to realize their dreams.

We are honored to partner with HBL and be a part of the PMYB&ALS scheme, said Kamran Shams, CEO of Akhuwat Islamic Microfinance, in expressing his gratitude for the partnership. The opportunity to advance financial inclusion for disadvantaged groups in society is exceptional given this agreement. We want to empower people and communities by offering interest-free financing, enabling them to establish long-term sources of income. We’re committed to working with HBL to change the world and advance the socio-economic well-being of our country.

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