Skip to main content

Standard Chartered enters into an agreement with Kashf Foundation

                                        

Standard Chartered Bank has entered into a distribution agreement with Kashf Foundation. Through this arrangement, Standard Chartered will be offering Kashf Gender Bonds to the Bank’s non-individual business banking clients.

This distribution arrangement of the Kashf Gender Bond is a significant step towards the Government’s agenda of economic empowerment and financial inclusion of women in Pakistan. The proceeds from the Bond will be utilised for micro-infrastructure finance loans directed towards the welfare of women through entrepreneurship, business support, flood rehabilitation, education, and home rehabilitation projects to name a few. The Bond also offers a great value proposition for the Bank’s client base, attributable to its long-term rating of AAA and market competitive returns along with a guarantee by InfraZamin.  InfraZamin is guaranteeing 100 per cent principal amount along with two quarterly interest payments.

 

This agreement was signed in presence of Saadya Riaz, Head CPBB, Standard Chartered Bank; Roshaneh Zafar, Founder and Managing Director, Kashf Foundation and Maheen Rahman, CEO InfraZamin, at a ceremony in Lahore.

 

Saadya Riaz, Head CPBB, Standard Chartered said, “At Standard Chartered we are strongly focused toward lifting participation of women and we feel privileged to have partnered with Kashf Foundation for this impactful venture.

 

Our commitment to our clients is absolute and we strive to offer solutions well suited to their needs. Through our Wealth Management Platform we bring forth the best-in-class investment and protection solutions for our clients. This arrangement gives us an opportunity to deliver real value to our clients due to bond’s quality credit rating, market competitive return and guarantee by InfraZamin and we foresee a strong appetite for it.”

 

Roshaneh Zafar, Founder and Managing Director, Kashf Foundation said, Kashf has always been at the cutting edge of investing in innovative financial services for women. The gender bond will make finance accessible for women from underprivileged backgrounds by linking them with capital markets, a segment that is often ignored. We are thankful to InfraZamin for playing a significant role as a guarantor that will boost the confidence of investors. The distribution agreement between Kashf Foundation and Standard Chartered Bank is a significant stride in the financial sector. Which, in turn, will contribute significantly to sustainable economic growth in the country and establish a compelling business case for investing in women.

 

Maheen Rahman, CEO, Infrazamin said: We are excited to the part of the first Gender Bond transaction in Pakistan and grateful to Kashf Foundation for their pioneering vision towards their long history of enabling women empowerment. As a country which sits near the bottom of the Gender Equity Index this transaction marks a significant leap forward in raising commercial capital directed to female empowerment and financial inclusion and represents an important milestone in the development and growth of the capital market. This transaction also demonstrates the power of using guarantees and credit enhancement facilities to enable a crowding in of private institutional investment into private sector-led projects.


Comments

Post a Comment

Popular posts from this blog

Peshawar Zalmi Releases "Zalmi Raalal" Official Anthem Powered by TCL

             TCL, Pakistan's No.1 LED TV Brand, in collaboration with Peshawar Zalmi, has released their most awaited anthem for PSL 8, " Zalmi Raalal ". Directed by the maestro Hassan Dawar himself, "Zalmi Raalal" is a star-studded, power-packed amalgamation of music, fashion, and sports, the three foremost passion points of Peshawar Zalmi. Produced by Naughty Boy, who has worked in the global music industry with the likes of Beyoncé, Wiz Khalifa, and Sam Smith, the music video features cricket's biggest superstars Darren Sammy and Babar Azam, as well as Pakistan's biggest celebrities Mahira Khan and Hamza Ali Abbasi. Peshawar Zalmi's official anthem for 2023, "Zalmi Raalal", is an ode to passion, a story entailing the beauty and power of the KP region and its people. The anthem has crossed one million views on all online platforms since its release, and the number is increasing fast.   The star-studded and narrative-centric anthem feature...
Post a Comment
Read more

Alibaba.com Hosts First Lahore Seller Summit

            Alibaba.com, a leading platform for global business-to-business (B2B) trade, today hosted its first seller summit in Lahore to highlight export opportunities available to local businesses in the e-commerce space. Titled “Go Export with Alibaba.com”, the event brought together existing and potential exporters in Lahore to offer tips and advice on how to start and grow an online export business. It is the first event of its type held by Alibaba.com in Lahore, signifying the platform’s enhanced efforts to support suppliers in the region and increase the city’s visibility as an online supplier base. Various experts in the export and e-commerce fields took part as speakers in the event, including   Mr Sheharyar Tahir , Head of External Relations of SMEDA, and  Mr Mian Rehman Aziz , Senior Vice President of Lahore Chamber of Commerce & Industries, who shed light on government support and infrastructure available to assist exporters ...
Post a Comment
Read more

A Look Back on the Spectacular Lineup of realme’s 828 Fan Fest Activities

             realme, as the most prominent brand of Gen Z, had a remarkable month of August, in which it held a plethora of activities for its fans and in return received an overwhelmingly good response for the brand. The purpose behind such activities was to inform the core values of realme and to provide the fans with a better insight into the defining spirit of realme which is to Dare to Leap, be adventurous, and break ground where others have not tread before. Moreover, through these events, it has ensured how it is different from its competitors. Fans are the backbone of any good brand as they are the ones who provide consistent support to the brand’s new endeavors. It is for this reason that it is very important for brands to cultivate a strong fan community much like realme does. The end goal for realme with all of its 828 Fan Fest celebrations was to bring something unique and exciting for the fans and through such activities develop a deeper s...
Post a Comment
Read more