Senior banker Talib Rizvi joins AMBL in a new role

KARACHI: Senior banker Talib Rizvi has joined Apna Microfinance Bank Limited (AMBL) as Special Adviser to the chairman of the institution, says a Press release.
Rizvi has twenty-four years of experience and he has served in a number of leading commercial banks of the country. He holds two master degrees and has completed various executive programs from noted international institutions.
Speaking at the occasion, Mian Shahid Chairman of the AMBL said that we are very pleased to have a valuable and experienced banker like Talib Rizvi in our team to reinforce organizational and management structure.
He said that there is no doubt that the economic environment of Pakistan is facing new challenges and great opportunities; that’s why we need the best talent.
With Rizvi’s many years of experience, we will be well positioned to improve the working of the bank, introduce new products and continue providing the best services for our clients, he added.
Mian Shahid said that the government should encourage financing for small and medium enterprises (SMEs), enhance the sector’s share in private-sector credit from the current below 6 percent level to 20 percent and increase the number of borrowers from a little above one hundred and fifty thousand to half a million.
Pakistan’s economy will only develop when commercial banks start lending cash to small entrepreneurs that lack liquid assets or credit history.
The majority of small businesses are and banks consider SME finance a risky business despite many policy interventions by the central bank to boost SME finance.
Lack of access to banking credit remains a major factor hampering the sector’s growth which employs almost eighty percent of the country’s labour force, account for 30 percent of GDP and 25 percent of the total manufactured goods exports.
Microfinance banks should be given incentives and allowed to expand their role so that they can help the small business grow, he demanded.
Talib Rizvi said that he is pleased to join this institution and he will try his best to serve it to the best of his abilities and come up to the expectations of superiors.