HYDERABAD  -  A session titled ‘Pakistan’s Micro-finance Landscape: Emerging Opportunities and Growing Challenges’ organised at SAFCO Head Office on Monday.

Syed Mohsin Ahmed, Chief Executive Officer (CEO) of Pakistan Micro-finance Network (PMN), and Ali Basharat, Head of Operations, deliberated their insights on the current situation and future challenges of Pakistan’s financial sector. CEO PMN Syed Mohsin Ahmed, while expressing his views, said that the visit to SAFCO Head Office provided an opportunity to have fruitful discussions on the challenges and new trends facing the financial services sector in the country.

Appreciating the services of SAFCO and the reputational status it has achieved in the financial sector, he said that despite various the obstacles and difficulties including the disasters of COVID and flash floods, economic crises, inflation and price hikes, SAFCO with its dedication to serve had taken necessary important steps to deal with challenges like Islamic Finance, Women Exclusive Branches, Climate Resilient Products and Services and many more.

He said that SAFCO started as an NGO in 1986 and then established an important company ‘SMCL’ playing a role in the country’s economy, which is a great achievement of Suleman G Abro, one of the founders of Pakistan Micro-finance Network. He said that after a difficult journey from an NGO to a financial company, SAFCO has set a testament in the country and has not only maintained itself in all kinds of situations but also proven itself. At present, SAFCO is being appreciated by the State Bank, Securities and Exchange Commission of Pakistan, financial institutions and commercial banks across the country, even SAFCO is partnered with international institutions and SAFCO is among the institutions in the world that are providing financial services at a large scale.

He said that SAFCO is working in every sector where a good financial institution should be, including women’s development, Islamic financial services, climate resilience and activities contributing positively to the environment and SDGs, therefore today every investor and financial network is looking to SAFCO’s journey to move forward. Speaking on the future importance of the micro-finance sector, Syed Mohsin Ahmed said that the focus of commercial banks, investors and governments is shifting towards providing financial services to small businesses. He said that the micro-finance sector provides financial facilities to people for small and medium-sized businesses in such a way that they can stand on their own feet and bring prosperity in their lives.

Syed Mohsin said that the problems of this sector have started to be resolved, and this sector is growing more than before. The World Bank is also taking steps to promote Pakistan’s micro-finance sector, including allocating funds to help people in disaster-affected areas get back on their feet. He said that as an institution, ‘PMN’, our effort is to bring such policies and make such decisions that not only benefit this sector but also benefit those who receive financial services in a real sense, and serve humanity through financial institutions. Earlier, Managing Director SMCL Syed Sajjad Ali Shah welcomed the guests while Bashir Ahmed Abro, Head of SAFCO Business Operations, thanked the PMN leadership.