Parwaaz Financial Services Ltd Information

Micro, small and medium enterprises (MSMEs) are estimated to employ approximately 80% of the non-agricultural labour force in Pakistan but of the 3.2 million enterprises, as reported by the 2005 Economic Census of Pakistan, barely 180,000 have access to formal finance. To fill this significant gap in access to finance for SMEs, Karandaaz has set up Parwaaz Financial Services Ltd. (PFSL), a commercially-driven and privately-managed Non-Bank Financial Company (NBFC). PFSL has been registered with SECP to offer short-term and long-term loans, running finance, and cash finance. In the future, other services such as invoice discounting, supply chain finance, and leasing may be added. Convenient service provision, through digital channels, will be at the heart of PFSL’s strategy to support outreach and enhance the customer experience. In addition, it will help in ensure speed of service, focus on un(der)served, tailored product offering, and ease of service.