KARACHI – Daraz and HBL have signed a strategic partnership agreement to enable the growth of Small and Medium Enterprises (SMEs) by inviting SMEs to set up online shops on Daraz, and avail HBL’s extensive banking solutions to meet their financial needs.

HBL is Pakistan’s largest bank and a leader in the SME segment while Daraz is the country’s leading e-commerce platform.

As part of the partnership, HBL is encouraging its SME clients to set up their online ventures on Daraz thereby availing the business and financial support the platform is offering under the recently launched Daraz Humqadam program. The Humqadam program includes commission fees waiver for May and June, free-of-cost educational support and training on Daraz University, express sign-ups, and free marketing to promote SME businesses and setting up their online shops within days.

Daraz with its online retail footprint in more than 500 cities, towns, and districts and over 5 million monthly active users nationwide is in a unique position to empower SMEs and facilitate their transition towards online retail.

Combined with HBL’s national presence, largest distribution network, extensive financing solutions, and investment in technology, the partnership presents an excellent opportunity for SMEs to reach millions of customers nationwide, increase demand for their products and invest in their business growth. The partnership aims to boost the national economy in the long term.

Ehsan Saya, Managing Director-Daraz Pakistan said, “HBL and Daraz have a rich history together and have enabled thousands of Pakistanis to participate in Digital Payments. As a continuation of our partnership with HBL, we aim to offer the same level of service to our rapidly growing seller base. At Daraz, we take full ownership of fueling Pakistan’s economy during this difficult economic period and there is no sector that fuels growth like the SME sector. We are very proud to have joined hands with HBL to work towards this goal.”

Commenting on the partnership with Daraz, Aamir Kureshi, Head Consumer, Rural, and SME Banking – HBL, said, “SME is a key pillar of growth for the economy as well as for providing gainful employment opportunities to the wider population of the country. Our expanded partnership with Daraz to support SMEs is in line with our commitment to this key economic sector. HBL continues to focus on technology-based solutions for financial inclusion. We look forward to working with Daraz on a sustained basis to play our part in the economic development of Pakistan.”