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Kashmir, The Bank of Azad Jammu and Kashmir is playing a pivotal role in stimulating the region’s economy through a range of loan schemes aimed at supporting small businesses and promoting various sectors.
According to Bank of Azad Jammu and Kashmir, under the leadership of President/CEO Khawar Saeed, the bank has implemented the Small Business and Trade Finance Scheme in collaboration with the Government of Azad Kashmir. This scheme has facilitated small businessmen by providing loans with easy installment options. Additionally, the bank offers various consumer finance schemes, including advance salary, house finance, gold loans, car finance, and motorcycle finance.
Furthermore, the bank has developed attractive commercial and Small and Medium Enterprises (SME) schemes, such as running finance, auto finance, demand finance, construction finance, healthcare finance, and tourism promotion finance. To support the agricultural sector, the Bank of Azad Jammu and Kashmir has introduced schemes like the Agriculture Production Loan and Agriculture Development Loan.
Significantly, the bank has launched seven loan schemes for the youth, enabling them to access finance easily. There is also a plan to introduce a loan scheme for solar energy under the green environment promotion initiative.
The disbursement of nearly four billion loans by the bank has notably spurred the state’s economic growth, bolstered small businesses, and created employment opportunities for young people. The bank’s initiatives have been well-received by the state’s residents and the business community, highlighting the positive impact of these financial support programs on the local economy.
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