Banks should facilitate the growth of private sector through easy credit facility: Zafar Bakhtawari

Islamabad, September 11, 2013 (PPI-OT): In line with its strategy of expanding its network, JS Bank has opened its corporate branch in Islamabad Stock Exchange Tower, Jinnah Avenue, Blue Area, Islamabad. Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry was the chief guest of the occasion.

Addressing the inaugural ceremony, he said that banks should become partner with private sector to promote business activities and steer the economy out of current challenges.

He said that private sector is the engine of economic growth and banks can play a significant role in its expansion by providing easy credit facility to businessmen. He said the credit expansion to the private sector remained subdued during 2012 and banks should now change their strategy to focus on private sector, which will not only improve their profitability, it will also help in improving the overall economy.

He said growth of investment in private sector is linked to the thriving banking sector and capital markets and government should facilitate these financial intermediaries so that they could extend better support to private sector in expanding business ventures.

He congratulated the JS Bank for opening its branch in Islamabad Stock Exchange Tower and hoped that it would provide quality and innovative services to its customers by maintaining high ethical and regulatory standards.

Speaking at the occasion, Abid Wasim Malik, Branch Manager, Corporate and Commercial Banking Group (North) JS Bank said that JS Bank is part of JS Group and since its inception, JS Bank has developed a network of over 185 branches across 100 cities. He said the bank enjoys a rating of A and A+ by the Pakistan Credit Rating Agency (PCRA).

He said JS Bank offers a full range of conventional banking solutions including retail, consumer, commercial and corporate banking, serving a growing customer base across Pakistan. He ensured that JS Bank Branch in ISE Tower would provide best possible services to its customers by maintaining higher standards of banking.

For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk