Governor SBP highlights the role of Microfinance institutions

Syed Salim Raza, Governor State Bank of Pakistan has said that microfinance banks/institutions have a key role to play in creating economic opportunities for the poorest sections of the society by broadening their outreach. Addressing on Economic Empowerment for the Base of the Pyramid at the Acumen Community Gathering held at a local hotel in Karachi today, Mr. Raza said that the regulatory role develops infrastructure of service delivery, cross fertilizes from researching and encouraging use of successful global practices, and guides the provision of rules and oversight that would enable Microfinance Institutions (MFIs) build sources of public funding and deposits.He said several initiatives have been taken by the State Bank to support low income financial development.