HBL, EXIM ink MoU to collaborate in structuring & implementation of EXIM’s Trade Credit Insurance facilities

BusinessHBL, EXIM ink MoU to collaborate in structuring & implementation of EXIM’s...

ISLAMABAD, Pakistan: The Habib Bank Limited (HBL) and EXIM (Export-Import Bank of Pakistan) have signed a Memorandum of Understanding (MoU) to collaborate in the structuring and implementation of EXIM’s Trade Credit Insurance facilities to support Pakistan’s export growth.

With a special focus on Small and Medium Enterprises (SME) and Emerging Corporate/Commercial tier exporters, the Export Receivables Discounting is a first of its kind in Pakistan.

HBL, EXIM ink MoU to collaborate in structuring & implementation of EXIM’s Trade Credit Insurance facilities
Muhammad Nassir Salim, President & CEO – HBL, (standing 3rd from left), and Irfan Bukhari, CEO & President – EXIM Bank, (Standing 5th from left), exchange MoUs. at EXIM Bank’s Head Office in Islamabad, in the presence of senior officials from both organizations.

With HBL’s industry-leading SME lending portfolio, of over Rs 100 billion, and EXIM’s key role as the official Export Credit Agency (ECA) of Pakistan, this MoU represents the unification of the commitments of both in growing the ‘S’ of the SME business in a significant and sustainable way, through a focus on cash-flow-based lending.

Under the agreement, EXIM as Pakistan’s ECA and HBL with its expertise in trade finance will collaborate to develop and implement new products to enhance the overall risk-taking capacity in the country and create a secure environment for exporters.

Commenting on the collaboration, the President & CEO HBL Muhammad Nassir Salim said “This is a significant step forward in supporting Pakistan’s export growth, particularly for SMEs and emerging exporters. HBL is a leader in SME financing, and we are committed to leveraging our expertise alongside EXIM’s risk management capabilities, to provide innovative export credit insurance solutions. This will not only enhance security for exporters but also unlock new financing opportunities, ultimately contributing to a more diversified and robust export sector.”

The CEO & President EXIM Irfan Bukhari said “Our collaboration with HBL marks a pivotal moment in supporting Pakistani exporters. By mitigating credit risks associated with export receivables, we safeguard the financial stability of both exporters and banks. This partnership particularly focuses on enhancing SMEs’ access to financing, empowering them to expand their exports and contribute to Pakistan’s economic growth. We much appreciate and value HBLs initiative in developing this unique product with EXIM, where the liquidity will be provided by HBL, and the related risks will be shared between HBL and EXIM.”

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

campaign against the Pakistan Army

Another campaign against the Pakistan Army is launched but this time from the other...

Islamabad, Pakistan: A new narrative is being shared in social media and even otherwise that the budget for grant 2024-25 of the Federal government...
Retinol benefits for skin

Retinol Benefits for Skin Whitening, Wrinkles, Acne, and Ageing

One of the effective skincare products to combat most of the skin conditions is retinol. Retinol is a healthy ingredient that works effectively against...

SIFC: FDI inflows hit $2 billion in July-March, Senate told

ISLAMABAD, Pakistan: The Country recorded the Foreign Direct Investment (FDI) inflow of approximately US$ 2 billion in the first nine months of the Fiscal...

Will petrol price be further dropped in Pakistan?

The federal government is set to announce the prices of petroleum products tonight for the next fortnight from June 16-30, 2024.By June 14, media...

Interbank Dollar Rate Today in Pakistan – 14 June 2024

Interbank Exchange Rates in Pakistan The Interbank Closing Exchange Rate in Pakistan has been issued by the State Bank of Pakistan (SBP) for June 14,...