Tuesday, June 4, 2024
ISLAMABAD (Urdu Point Newspaper Latest - APP. 04 June 2024) HBL and EXIM (Export Import Bank of Pakistan) have signed a Memorandum of Understanding to cooperate in the structuring and implementation of EXIM's trade credit insurance facilities for growth in exports. Signed. This is an important agreement regarding the provision of facilities to small and medium enterprises and emerging corporate, commercial level exporters in the country.
Cooperation between HBL, a credit provider worth more than Rs.100 billion, and EXIM, as Pakistan's official export credit agency, is an important MoU regarding the provision of cash-flow based credit. Agreements EXIM as Pakistan's Export Credit Agency and HBL with its expertise in trade finance to enhance overall risk-taking capacity and support in developing and implementing new products to create a safe environment for exporters. will do
Mohammad Nasir Saleem, CEO of HBL said on the occasion that this is an important step towards the growth of Pakistan's exports, especially in providing facilities to SMEs and emerging exporters. and playing a key role in providing financial support to mid-sized businesses, we are committed to leveraging EXIM's risk management capabilities as well as our expertise to provide innovative solutions in terms of export credit insurance. , this will not only increase protection for exporters but also open up new opportunities for finance.
Exim CEO and President Irfan Bukhari said that our collaboration with HBL is an important milestone in supporting Pakistani exporters. By reducing the credit risks associated with export receivables, we are protecting the financial stability of both exporters and banks. The partnership is specifically focused on increasing SMEs' access to finance, empowering them to increase their exports and contribute to Pakistan's economic growth.
