29.5 C
New York

Stress laid on green banking

Published:



ISLAMABAD:

Green Banking Guidelines, introduced by the State Bank of Pakistan (SBP) in 2017, are not mandatory but eventually they will become a policy to be implemented by banks, said SBP Deputy Chief Manager Mohammad Tahir. Speaking at a meeting of Fair Finance Pakistan (FFP), he said that 16 banks were facilitating green business and more initiatives were in the pipeline to promote climate-friendly banking. “There are some limitations and practical realities which the central bank has to take into account for the investment flow,” he said. Speaking on the occasion, FFP official Asim Jaffry said that only 20% of Pakistanis owned a formal bank account and only 5% of them were women. He lamented that micro, small and medium enterprises (MSME) were heavily underfinanced as a huge chunk of lending went to the government and large-scale industry.

Published in The Express Tribune, October 24th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.



Denial of responsibility! - If you are a regular visitor then ignore this...
Read Full Details



**If you have any Query Related This Post then here is the Source Link**

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Recent articles