On 14 April 2023 in Lahore, in order to advance financial literacy among small and medium-sized businesses, the Lahore Chamber of Commerce & Industry (LCCI) and ACCA (the Association of Chartered Certified Accountants) signed a Memorandum of Understanding (MoU) (SMEs).
The LCCI President Kashif Anwar and the ACCA’s Chief of Pakistan, Assad Hameed Khan, both signed the Agreement. Senior management from both organizations as well as ACCA President Joseph Owolabi attended the signing event.
The agreement aims to increase capacity, promote knowledge sharing, and increase awareness among SME experts and business owners. Both organizations will fund programs that increase financial literacy and encourage the development of a strong tax culture.
At the signing ceremony, LCCI President, Kashif Anwar, said: “I would like to congratulate not only LCCI and ACCA, but also all stakeholders, the business community, and member organizations on the signing of this agreement. It will strengthen the existing collaboration between LCCI and ACCA and support the LCCI member organizations with their capacity building needs, particularly around taxation and financial acumen.”
ACCA president, Joseph Owolabi, commented: “We’re delighted to formalize our partnership with LCCI and support capacity building in Pakistan’s SME sector. We’re committed to providing SMEs with the necessary tools and skills to navigate the complex financial landscape and make informed decisions underpinned by effective governance and driving sustainable growth. I’m certain the cooperation between ACCA and LCCI will bring positive change.”
Assad Hameed Khan, Head of ACCA Pakistan, added: “This partnership has the potential to serve as a platform for SMEs to upskill and bolster their vital contribution to Pakistan’s economy. We believe this collaboration will extend more opportunities for SMEs, benefiting businesses, individuals, and the entire economy.”
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