State Bank of Pakistan has introduced a refinance scheme* for women titled “Refinance & Credit Guarantee Scheme for Women Entrepreneurs (IRCGS-WE)”. This scheme is an initiative by Government of Pakistan to provide financing facilities to Pakistani Women Entrepreneurs at the discounted rates.
* SBP vide Letter No IH&SMEFD/SMEFD/WE/2021-3168 dated March 17, 2021.
Eligibility Criteria:
Financing shall be available to women entrepreneurs across the country for setting up of new businesses or expansion of existing ones.
- Only women owned small /medium businesses are eligible under the scheme
- Bank will approve the financing limits of eligible customers (women owned SMEs) keeping in view their financing requirements, cash flows, repayment capacity and risk profile.
- Financing under the scheme will be provided to women entrepreneurs preferably under the personal guarantee of the customer itself.
| S. No | Features | Information |
|---|---|---|
| 1 | Underlying Islamic Modes offered | Diminishing Musharakah, Musawamah, Istisna & Tijarah |
| 2 | Maximum financing limit | Rs. 5 million |
| 3 | Tenors | Up to 5 years with maximum grace period up to 6 Months |
| 4 | Type of Product | SME |
| 5 | Basis Pricing / Return | Rate of profit for end user under the facility will be up to 5% per annum (p.a.). |
| 6 | Target Customers | Only women owned SMEs are eligible under the scheme. |
For more details, visit your nearest Bank Alfalah Islamic branch or call us at 021 111225111.
