In order to support exporters, State Bank of Pakistan introduced “Islamic Export Refinance Scheme (IERS). Through IERS, Bank Alfalah provides Islamic financing facilities on concessionary rates to exporters against eligible commodities to fulfill the working capital requirement of exporters. This scheme is in alignment with government’s policy to offer various incentives to boost the country’s exports.
- Corporate, Commercial and SME customers involved in export oriented businesses are eligible to avail the facility
- Both Direct and Indirect Exporters are eligible for financing.
- IERS provides financing of eligible items under two parts:
- Part I (available to the extent of 100% of the Export Orders/ Contracts/Letter of Credit (LC)
- Part II (performance of past exports) for Direct / Indirect exporters.