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.
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.
|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.