Ghazanfar Azzam, President & CEO Mobilink Bank is an industry expert, well-known for his knowledge and experience in commercial, consumer, retail, SME, and micro-banking. Under his leadership, Mobilink Bank has emerged as one of Pakistan’s premier banks specializing in MSME services. He is a recipient of the prestigious Hubert Humphrey Fellowship by the United States Government for the year 2000-01 under the Fulbright program. The program included studies at State College, Penn State, PA in HRD & Leadership and on-the-job experience at ABN Amro Bank, North America in Chicago.
BR Research had a detailed discussion with Ghazanfar Azzam which has been reproduced for the readers:
BR Research: What is the role of Micro, Small, and Medium Enterprises (MSMEs) in Pakistan’s economy, particularly in terms of employment generation, poverty alleviation, and prospects?
Ghazanfar Azzam: There is no denying that MSMEs play a substantial and multifaceted role in Pakistan’s economy. According to Small & Medium Enterprise Development Authority (SMEDA) estimates, over 5 million SMEs operate nationwide and account for 40 percent of our national GDP. The sector is crucial when it comes to talent absorption and job creation. It alone facilitates nearly 78 percent of non-agricultural sector employment. The Global Entrepreneurship Monitor (GEM) Report 2020 says Pakistani MSMEs operating in textiles, handicrafts, and services have been essential in providing economic opportunities to individuals from lower income brackets, thereby fostering inclusivity and alleviating poverty at levels where they matter the most
In addition, the State Bank of Pakistan (SBP) Annual Report for the fiscal year 2021-2022 highlights the MSMEs’ ability to withstand economic challenges, adapt to evolving market dynamics, and contribute to economic diversification, positioning them as key drivers for sustainable growth and long-term prosperity. It also acknowledges Microfinance Institutions’…
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