SBP EDITORIAL: A bit done, more to do

No fuss. Very little fanfare. Yet the low-key announcement last Friday by the Central Bank of new lending protocols for SMEs could prove to be quite important.

The new rules, which come into effect from the middle of next year, provide greater transparency to SME borrowers, particularly when credit has been refused. They also provide increased protection for guarantors of loans, including new engagement protocols between banks and borrowers who are in arrears.