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Islamic Refinance & Credit Guarantee Scheme for Women Entrepreneurs (IRCGS-WE)Islamic Refinance & Credit Guarantee Scheme for Women Entrepreneurs (IRCGS-WE)

Islamic Refinance & Credit Guarantee Scheme for Women Entrepreneurs (IRCGS-WE)

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.

Click here to download Financing Facility Application Form