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KARACHI, Aug 28 Banks have been advised by the State Bank to provide application forms in Urdu for SME financing.
The SBP said it had been noted that in case of SMEs financing, the application forms and other allied legal documents, being in English language, were incomprehensible by the majority of the SME borrowers, who are relatively less educated.
In order to facilitate the SME borrowers in better understanding of the terms and conditions of the loans as well as the prescribed requirements, banks and DFIs are advised to translate and make available SME loan application forms and other related documents in Urdu as well, on priority basis.
