Islamic SME Asaan Finance (I-SAAF)
Islamic SME Asaan Finance (I-SAAF) Scheme (Infrastructure, Housing & SME Finance Department):
In line with the vision of the Government of Pakistan, the State Bank of Pakistan launched a financing scheme by the name of Islamic SME Asaan Finance (I-SAAF), specifically targeted for the growth of small businesses. This financing scheme will provide SMEs with financing of up to PKR 10 million at an end user pricing of up to 9% per annum. The financing may only be availed by SME Companies/ Sole Proprietors/ Partnership firms who are not our existing customers i.e. NTB’s of Bank Alfalah Islamic. Further, customers can avail short-term working capital or long term financing facilities for purchase of raw material, plant, equipment, machinery, commercial vehicles and property.
SBP Scheme Website Link
https://www.sbp.org.pk/smefd/circulars/2021/I-SAAF%20Scheme.pdf
I-SAAF Salient Features:
https://www.sbp.org.pk/Incen-others/pdf/DFA-FAQs-SAAF.pdf
| Eligibility | All SMEs (new business as well as operative businesses) not having existing financing relationship with Bank Alfalah Islamic will be eligible. Facility can be availed from one participating Bank only. |
| Financing Limit | Maximum financing limit for single SME or a group of SMEs owned by same owner/(s) (i.e. group/associated/sister concerns) is capped at Rs 10 million. |
| Pricing | End-user pricing rate for eligible SME customers is 9% p.a. |
| Tenor | Maximum tenor of financing extended to the customer will be as per terms & conditions of underlying financing product facility approved by the bank. |
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*Other terms and conditions are applicable as per Bank’s and SBP’s circulars issued from time to time. |
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