1. It may be recalled that ‘Policy for Promotion of SME Finance’ was launched by honorable Prime Minister of Pakistan on December 22, 2017 at SBP Karachi. In terms of one important pillar of the policy i.e. ‘Capacity Building and Awareness Creation’, NIBAF and SBP BSC were envisaged to undertake 100 training programs per year and 150 awareness creation sessions per year, respectively.

2. While NIBAF & SBP BSC are conducting above-mentioned programs, it has been observed that there is still a complete lack of awareness among bankers as well as SMEs about SBP’s SME policy and related refinance schemes. Therefore, in order to improve the awareness on ‘policy for promotion of SME finance’ and other refinance schemes, banks are advised to undertake following measures:

i. Direct awareness creation by banks: Besides SBP’s efforts to create awareness in different cities, banks are advised to prepare an action plan for next 3 months (July-Sept, 2018) in order to achieve concrete results. In terms of this plan, each bank will be required to target around 1000 account holders per city where SBP BSC has presence. Those account holders should be targeted who have their business in the form of sole proprietorship/ partnership/ private limited company but may or may not be availing any financing facility from the respective bank. The targeted number of SMEs may vary according to population and size of the city. Banks may also advise their customers/ SMEs about their specific products. In this regard, area managers of each bank will keep a record of contact details (name, occupation, address, mobile number) of the targeted SMEs. These contact details will be provided to respective SBP BSC on monthly basis (as per attached format).

ii. Effective utilization of media for awareness creation: While SBP will also use print, electronic and social media for awareness creation, banks are advised to undertake the following:

• Each bank is required to publish one advertisement per quarter highlighting salient features of SME finance policy, SBP refinance schemes and details of their specific SME products. Banks will submit their schedule with above mentioned action plan to IH&SMEFD, SBP within 20 working days of issuance of this circular letter. Accordingly, a calendar for all banks will be developed by SBP.
  
• Banks will disseminate features of SME policy and SBP refinance schemes by effectively utilizing radio and cable TV.
  
• Banks will also use social media for this purpose.
  
• Banks are required to make sure that details of SME finance policy and SBP refinance schemes have been prominently placed on their websites.
  
• Banks will also display information about SME finance policy and SBP refinance schemes through posters, screens and standees at their branches and ATMs.
  
• Pamphlets/ leaflets/ brochure will also be used by banks to disseminate above information.
  
• Further, banks will also dispatch brochure(s) containing information of SBP refinance schemes with annual statements of accounts of their account holders.

3. Above instructions will be implemented with immediate effect. Non-compliance of the same will attract penal action under BCO, 1962.

4. In light of above, banks are advised to submit their action plan within 20 working days of issuance of this circular letter at [email protected].

Attachments:
1. Format to maintain contact details of SMEs