Bank Alfalah and Engro Polymer form Strategic SCF partnership

BusinessBank Alfalah and Engro Polymer form Strategic SCF partnership

KARACHI, Pakistan: Bank Alfalah Limited (BAFL) and Engro Polymer & Chemicals Limited (EPCL) have signed a Memorandum of Understanding (MoU) to design and implement customized Supply Chain Finance solution, exclusively for EPCL’s buyers.

This unique initiative is a part of Bank Alfalah’s continued commitment towards financial inclusion and introducing global Supply Chain Finance (SCF) best practices in Pakistan by leveraging IFC’s international and local knowledge. The program introduces strategic value for corporate partners in strengthening supply chain networks, to EPCL buyers for meeting their working capital needs and enhancing their bottom lines besides generating consistent product ordering for EPCL.

Bank Alfalah and Engro Polymer form Strategic SCF partnership
Signing Ceremony – Mr. Bilal Asghar – Group Head Corporate, Investment Banking & International Business from BAFL & Mr. Syed Abbas Raza – CFO Engro Polymer & Chemicals Limited

The SME segment holds critical position in Pakistan’s economic landscape through contributing over 30% of GDP and employing 90% of non-agricultural workforce. Bank Alfalah strongly believes in developing structured initiatives such as SCF programs to support SME businesses and is uniquely positioned through its wide spread branch footprint across the country.

Mr. Bilal Asghar – Group Head Corporate, Investment Banking & International Business from Bank Alfalah Limited and Mr. Syed Abbas Raza – CFO from Engro Polymer & Chemicals Limited signed this strategic partnership during a ceremony held in Karachi. Mr. Shehzad Ilyas – Head, Transaction Banking, Mr. Farrukh Aslam Chughtai – Regional Corporate Head South, Mr. Abdul Qayoom Shaikh – Head of Marketing, Mr. Muhammad Bilal Ahmed – Head of Treasury and Mr. Akber Zaman Khan, IFC were also present at the event.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

AUD to INR: Australian Dollar to Indian Rupee Today – 6 December 2023

0
The Australian Dollar (AUD) was trading at 54.87 as per the Indian Rupee (INR) on Wednesday.Currently, Indians are now the second-largest migrant group in...

USD to PKR: USD Dollar Rate in Pakistan Today – 6 December 2023

0
The US Dollar (USD) was being bought and sold at Rs 283.3 and Rs 286 in the Open Market against the Pakistani Rupee (PKR)...
Gold Price in Pakistan Today – 16 September 2023

Gold Price in Pakistan Today – 6 December 2023

0
On Wednesday (December 06, 2023), the gold rate for one tola of 24-karat in Karachi, Pakistan, is Rs 216,700.000.It's important to note that gold...

31st anniversary of demolition of historic Babri Mosque by Hindu extremists overserved

0
ISLAMABAD, Pakistan: The 31st anniversary of the demolition of the historic Babri Mosque by Hindu extremists is being observed on Wednesday.“Today is a sad...

U Microfinance Bank posted Net Profit of Rs 1.7 billion for nine-months ended 30...

0
ISLAMABAD, Pakistan: U Microfinance Bank Limited, Pakistan’s fastest-growing microfinance bank, has announced financial results for the nine months ended September 30, 2023.The announcement...
Advertisement