Against this backdrop, a Small & Medium Enterprise (SME) Finance Department was established in State Bank of Pakistan in July 2008 to focus on providing an enabling regulatory framework for SMEs, assessing their credit needs, capacity development of Banks and DFIs and for building awareness through seminars and conferences, along with the promotion of financial services for export-led industrial growth. 13.
Regarding the regulatory approach of SBP, I would like to quote short excerpts here from my speech at the Pakistan Microfinance Country Forum: “In developing regulations for microfinance, the State Bank has pursued a bottom-up approach, along with use of strong analytical and problem solving skills and industry consultation.