Service Provider Hub for TVET Graduates
Transitioning from student life can be challenging, whether you embark on an entrepreneurial journey or navigate the job market. This comprehensive directory empowers you with the resources needed to succeed.
Aspiring entrepreneurs will find information on financial institutions offering loans, grants, and other resources specifically designed for new ventures. Explore funding options, eligibility criteria, and contact details to turn your business idea into reality.
For those seeking employment, the directory connects you with valuable business service providers. Find recruitment agencies, training programs, and professional development opportunities tailored for TVET graduates. Explore job postings, skill-building programs, and connect with industry professionals to launch a successful career.
This directory is a product of the BMZ-funded TREE TVET Training Project, “Transformative Resilience through Economic Empowerment,” implemented by WHH and IDEA in Pakistan.
Directory Financial Service Providers
Directory of Business Service Providers
| # | Name of Financial Institution | Category | Services Offered | Elegibility Criteria | Coverage | Details |
|---|---|---|---|---|---|---|
| 161 | Sindh Rural Support Program | Civil Society, Non-Governmental Organizations | Provides small interest-free loans for income-generating activities related to agriculture, livestock and small enterprises. | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Sindh | |
| 160 | Al-Mehran Rural Development Organization | Civil Society, Non-Governmental Organizations | MICRO CREDIT FACILITY Micro Credit is one of the core programs of AMRDO. AMRDO has been supporting the rural marginalized communities for socio economic uplift and bringing about a positive change in the quality of their lives through this program. AMRDO is also organizing capacity building programs for the marginalized communities of its area of intervention; it has also established a training centre at its Head Office in New Saeedabad, which offers capacity building programs to small entrepreneurs with managerial, accounting and business development skills. EMERGENCY LOAN FACILITY The situation of poverty in the rural areas has alarmingly increased in general. People are devoid of the basic amenities of life such as basic health, educational, water supply and sanitation facilities and shelter to have protected life. AMRDO has launched the emergency credit lending in collaboration with Pakistan Poverty Alleviation Fund (PPAF) in the Matiari & Shaheed Benazirabad districts to facilitate the backward communities in meeting their emergency needs in the context of health & education. AMRDO has witnessed immense success of the program and found brilliant results of the project. The magnitude of the success could be witnessed from the fact that outpouring number of clients is approaching AMRDO for availing the funding facilities. PRIVATE SECTOR LINKAGE WINDOW (PSLW) AMRDO has started PSLW program in collaboration with Pakistan Poverty Alleviation Fund PPAF-IFAD from April 2010 to September 2011. PSLW is a unique program which adheres to develop participatory sense and approach in developing the private small and medium range enterprises being operated. This program is also aimed to enhance the capabilities and business positions of its beneficiaries. As availability of financial resources, market avenues have remained out of reach of poor village communities due to various reasons, The AMRDO has so far been desirably successful in enabling the rural base small and medium enterprises to stabilize their business positions, find access to urban market, and better utilize marketing mechanism to stabilize their business positions. AMRDO during the implementation of the PSLW program has comprehensively oriented the existing small scale business enterprises regarding the viability of the program and itÂ’s implementing methodologies, and the ways and means of how to make this program more result oriented. These outlets include Handicraft shops, general stores, grocery provision stores, beauty parlors & many other outlets which are in need of economic support for a sustainable business. | Sindh | ||
| 159 | Rural Community Development Programs (RCDP) | Civil Society, Non-Governmental Organizations | provides loans to communities for establishment of small scale business entrepreneurs, agri finnacing, loan for business and intrest free loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Punjab | |
| 158 | Punjab Rural Support Program (PRSP) | Civil Society, Non-Governmental Organizations | Provides small interest-free loans for income-generating activities related to agriculture, livestock and small enterprises. | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Punjab | |
| 157 | Participatory integrated development society (PIDS) | Civil Society, Non-Governmental Organizations | Intrest Free Loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Baluchistan | |
| 156 | Organization for poverty reduction and community training program (OPRCT) | Civil Society, Non-Governmental Organizations | Provide enterprose loan, agriculture loan, livestock loan and interest free loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Sindh, Punjab | |
| 155 | National Rural Support Program (NRSP) | Civil Society, Non-Governmental Organizations | Provide Micro credits for contributing to family enterprises, provide Intrest Free Loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Sindh, Punjab | |
| 154 | LASOONA:Society for Human & Natural Resource Development | Civil Society, Non-Governmental Organizations | Interst Free Loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | KPK | |
| 153 | Khwendo Kor | Civil Society, Non-Governmental Organizations | Intrest Free Loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | KPK | |
| 152 | Initiative for Development and Empowerment Axix (IDEA) | Civil Society, Non-Governmental Organizations | Provide intrest free loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | KPK | |
| 151 | Health & Nutrition Development Society (Hands) | Civil Society, Non-Governmental Organizations | Intrest Free Loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Sindh | |
| 150 | Environmental Protection Society | Civil Society, Non-Governmental Organizations | Intrest Free Loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | KPK | |
| 149 | Center of Excellence for Rural development | Civil Society, Non-Governmental Organizations | Intrest Free Loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | KPK | |
| 148 | Agahi Pakistan | Civil Society, Non-Governmental Organizations | Imtrest Free Loan & Micro enterprize loan,Agriculture loan, livestock loan,General business loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Punjab | |
| 147 | Awami Development Organization | Civil Society, Non-Governmental Organizations | Intrest Free Loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Punjab | |
| 146 | Thardeep Rural Development Program (TRDP) | Civil Society, Non-Governmental Organizations | SME Financing,Intrest free Loan | Provide loans to everyone in Housing Loans, Education Loans, Marriage Loans, Enterprise Loans and Salary Loans Age between 18 to 65 year Valid CNIC of borrower Valid CNIC of Guarantor Must be a permanent resident of same place from last 2 years Social/Tangible Guarantee as per policy | Sindh | |
| 145 | Goth Seengar Foundation (GSF) | Civil Society, Non-Governmental Organizations | strengthening small and medium-sized enterprises (SMEs) in horticulture and livestock sectors | The credit schemes are divided into three sectors i.e. agriculture, livestock and regular loans. For the services organization should be approached for SME financing | Sindh | |
| 144 | Research & Development Foundation (RDF) | Civil Society, Non-Governmental Organizations | RDF implemniting Growth for Rural Advancement and Sustainable Progress (GRASP) project collaboration with PPAF which facilitate access to credit for medium, small, and micro rural enterprises through linkages with financial institutions | Provided funbding to Individuals who submit proposals for agriculture and livestock business, Funding Amout 500,000 to 3 crore | Sindh | |
| 143 | Baluchistan Rural Support Program | Civil Society, Non-Governmental Organizations | strengthening small and medium-sized enterprises (SMEs) in horticulture and livestock sectors, in six districts of Balochistan; Zhob, Pishin, Killa Abdullah, Kharan, Khuzdar and Jhal Magsi with the financial assistance of PPAF BRSP also provide small loans to the poor HHs to set up micro-enterprises that can help them earn a livelihood and become financially independent | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Baluchistan | |
| 142 | Karandaaz | Civil Society, Non-Governmental Organizations | Karandaaz promotes access to finance for micro, small and medium-sized businesses through a double bottom line investment platform and financial inclusion for individuals by employing technology enabled solutions | Karandaaz works to improve access to finance for Small and Medium Enterprises (SMEs) by supporting initiatives that enhance the financial ecosystem for these businesses. | All Provinces | |
| 141 | Damen Support Program | Civil Society, Non-Governmental Organizations | Damen Support Programme (DSP) is providing micro loans to low-income individuals the General loans, Business invesment loans,Enterproze loans and intrest free loans | The Damen Support Programme (DSP) facilitates microcredit by offering various loan products tailored to the needs of low-income individuals. The program provides six types of loans: General Loans ranging from PKR 45,000 to 80,000 with durations of 12 and 18 months, Business Investment Loans with the same loan range and durations, Enterprise Loans from PKR 80,000 to 350,000 with durations of 12 and 18 months, Agriculture Loans ranging from PKR 30,000 to 350,000 linked to crop maturity, Sharia-based (Islamic) Loans from PKR 20,000 to 125,000 with durations of 12 and 18 months, Gold Loans from PKR 45,000 to 350,000 with durations of 12 and 18 months, and finally, Interest-Free Loans (PMYL) ranging from PKR 30,000 to 500,000 with a repayment period of up to 3 years. | Punjab | |
| 140 | Wasil Foundation | Civil Society, Non-Governmental Organizations | economically empower poor communities and facilitate them in developing their businesses through Micro Credit and Enterprise Development Programs | To be eligible for microcredit loans from Wasil Foundation, individuals need to fulfill certain criteria. Prospective borrowers should provide proof of identity, proof of residence, and details about their economic activities or business plans during the application process. | Punjab | |
| 139 | Thardeep Microfinance Foundation | Civil Society, Non-Governmental Organizations | Housing Loans, Education Loans, Marriage Loans, Enterprise Loans Salary Loans | Loan eligibility requires an age between 18 to 65, a valid CNIC for the borrower and guarantor, 2 years of permanent residency, and a social/tangible guarantee. The lending approach is individual/group with equal monthly installments. Loan amounts range from Rs. 10,000 to Rs. 500,000, and collateral is needed for amounts up to Rs. 100,000. Guarantors, non-family members like government employees or shopkeepers, require bank cheques and statements. Disbursement via biometrics takes 1 to 3 days, with easy repayments through ADCS and mobile accounts. Insurance covers the client's life based on the loan amount. Loan duration is between 12 to 24 months. | Sindh | |
| 138 | Soon Valley Development Program – SVDP | Civil Society, Non-Governmental Organizations | Agriculutre loan, Livestock loan,Renewable energy loan, and loan for trade business | The Trade Business & Services loan program employs an individual loaning approach with Monthly Repayment loans featuring Equal Monthly Installments (EMI). The loan duration varies from 12 to 24 months. Service charges for Monthly Loan Repayment are set at a flat rate of 21.5%. Loan amounts range from Rs. 20,000 to Rs. 200,000, subject to the SVDP loan ceiling and client graduating policy. A 4% processing/agreement fee applies, and insurance coverage for the loan amount comes with a premium of Rs. 0.4%. | Punjab | |
| 137 | Shah Sachal Sami Foundation (SSSF) | Civil Society, Non-Governmental Organizations | providing micro loans for agriculture, livestock and small enterprises. | For small enterprize loan require availability of small enterprize and business plan to be submitted, with other required documents | Sindh | |
| 136 | Safco Support Foundation | Civil Society, Non-Governmental Organizations | Micro Insurance and Prime Minister Intrest free loan | Anyone meeting the criteria of being between 18 to 60 years old, possessing a valid CNIC, having poverty score card score between 0-40,have economically viable business plan and residing in the district where the IFL program is being implemented is eligible to avail IFL. | Sindh | |
| 135 | OLP Financial Services Pakistan Limited formerly Orix Leasing Pakistan | Civil Society, Non-Governmental Organizations | Provide Micro Leasing and Micro Credit | 1: Micro Leasing Financing is provided to micro entrepreneurs on a profit-making basis all over the country 2: Micro Credit OLP Micro credit loans are based on group lending methodology through which peer groups of five women are self-selected and incorporated into a credit council of 20 borrowers. | All Provinces | |
| 134 | OPD SUPPORT PROGRAM A Compnay setup under Section 42 of companies Act,2017 | Civil Society, Non-Governmental Organizations | The OPDSP offers Humqadam Madadgar Apna Qarobar Khudqafeel Committee Loan | Humqadam Madadgar Apna Qarobar Khudqafeel Committee Loan options follow the OPDSP Policy and have varying criteria. The loan periods range from 12 to 15 months, with amounts from Rs. 20,000 to Rs. 90,000. Repayment methods differ, from monthly to daily instalments, and the number of instalments ranges from 12 to 75. Each loan has a specific purpose, such as supporting small legal businesses, improving education entities and family health centers, strengthening small and medium enterprises, and fast food points, as well as aiding micro and small enterprises. | Punjab | |
| 133 | Orangi Pilot Project (OPP) | Civil Society, Non-Governmental Organizations | Microenterprize credit | The program supports small businesses set up by the people, mostly in their homes, settlements and villages. Credit for livestock and agriculture related work in villages is also provided. | Sindh | |
| 132 | Naymet Trust | Civil Society, Non-Governmental Organizations | Provide Qarze Hasana Loan, Skill development training | Qarz-E-Hasna loans are offered by NAYMET for the establishment of a new business or the expansion of an existing one and every one is elegible who have viable business plan | Punjab | |
| 131 | Mojaz Support Program/Mojaz Foundation | Civil Society, Non-Governmental Organizations | Provide enterprize loan, livestock loan, agriculture loan and intrest free loan | Provide Small scale enterprises loan for Small trades, services and manufacturing activities, and for intrest free loan a. The loan provided shall be used for productive economic activities/ small enterprises b. All beneficiaries must be from 0 to 40 on Poverty Score Card (PSC) AND having valid National Identity Card and should be resident of the target area. c. All beneficiaries should be between the age of 18 to 60 years. d. Having viable business plan. e. At least 10% of loans will be disbursed to women. however, efforts will be made to entertain more women than the committed 10%. f. Not involved in illegal and criminal activities. g. The beneficiary should not be defaulter of any other organization. | Punjab | |
| 130 | Micro Options | Civil Society, Non-Governmental Organizations | provide Financial & development services to low income households in its target areas. | Loan is provided to every one who need it | Punjab | |
| 129 | Kashf Foundation | Civil Society, Non-Governmental Organizations | Kashaf Karobar Loan, Personal loan, and Kashaf Mahweshi Loan | Kashaf Karobar loan is offered to women from low-income households seeking capital for their existing or new businesses. The loan tenure options are 12 and 18 months. For the first loan cycle, the loan amount ranges from PKR 45,000 to PKR 60,000 for the 12-months tenure and PKR 45,000 to PKR 70,000 for the 18-months tenure. For repeat loans, the amount can go up to PKR 200,000 for the 12-months tenure and PKR 300,000 for the 18-month tenure. | All | |
| 128 | Jinnah welfare society | Civil Society, Non-Governmental Organizations | provide micro credit and SME loan | For a microcredit loan, the applicant should be a permanent resident of the locality, a computerized CNIC holder, with an age between 18 and 60. The loan amount ranges from PKR 20,000 to 50,000, and the tenure is 12 months. On the other hand, for Small & Medium Enterprise (SME) Loans, the loan amount varies from PKR 100,000 to 300,000, and the tenure is 24 months. Collateral includes a social guarantee along with a post-dated cheque against the loan amount. | Punjab | |
| 127 | FFO Support Program | Civil Society, Non-Governmental Organizations | principal loan for women, small business loan,Kissan finance, school sahara loan, maal maweshi loan, roshan Pakistan loan, Home loan,Prime Minister Intrest free loan | For PM Youth Loan For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. whereas for IFL a. The loan provided shall be used for productive economic activities/ small enterprises b. All beneficiaries must be from 0 to 40 on Poverty Score Card (PSC) AND having valid National Identity Card and should be resident of the target area. c. All beneficiaries should be between the age of 18 to 60 years. d. Having viable business plan. e. At least 10% of loans will be disbursed to women. however, efforts will be made to entertain more women than the committed 10%. f. Not involved in illegal and criminal activities. g. The beneficiary should not be defaulter of any other organization. | Punjab | |
| 126 | Community Support Concern (CSC) Empowerment and inclusion program | Civil Society, Non-Governmental Organizations | Enterprize value chain, ivestock value chain, solar loan, taleem loan, and micro finnace for micro enterprizes,Intrest Free Loan | For IFL As Above | Punjab | |
| 125 | Farmers Development Organization (FDO) | Civil Society, Non-Governmental Organizations | INTEREST FREE LOAN (IFL SCHEME) UNDER EHSAAS PROGRAMM | As Above | Punjab | |
| 124 | Ghazi Barotha Taraqiati Idara (GBTI) | Civil Society, Non-Governmental Organizations | Intrest Free Loan | a. The loan provided shall be used for productive economic activities/ small enterprises b. All beneficiaries must be from 0 to 40 on Poverty Score Card (PSC) AND having valid National Identity Card and should be resident of the target area. c. All beneficiaries should be between the age of 18 to 60 years. d. Having viable business plan. e. At least 10% of loans will be disbursed to women. however, efforts will be made to entertain more women than the committed 10%. f. Not involved in illegal and criminal activities. g. The beneficiary should not be defaulter of any other organization. | Punjab | |
| 123 | Sindh Agricultural and Forestry Workers Coordination (SAFWCO) | Civil Society, Non-Governmental Organizations | Provide Micro credit,SME Financing | Provide loan to everyone in business development, agriculture loan, school development, loan for Rickshaw and motorcycle, loan for livestock, salary loan, loan for solar system and repair of house. • Valid CNIC/SNIC • Age between 18 – 62 years • Permanent resident of the locality for 2 years • Operational Business for 2 years • Processing & Registration Fee: 0 (None) • Emergency Fund: 1% per annum • Financial Income Charges: 25% per year (Under Solar Loan, Group Loan) • 28% per year (Under SME, Personal Loan, Individual Lending) | Sindh | |
| 122 | Tez Financial Services Limited or (Zood Pay) | Digital/Online Loan Apps/Fintechs | Degital lending to individuals and SMEs | Provide degital loan to everyone using online app | All | |
| 121 | ABHI-your salary now | Digital/Online Loan Apps/Fintechs | ABHI offering sophisticated solutions encompassing earn wage access, invoice factoring, and comprehensive payroll services. | ABHI empower salaried individuals by providing them access to their earned salaries anytime, anywhere through the ABHI App, SMS, or WhatsApp. | All | |
| 120 | Brqwaqt-Loan money Cash (Seedcred Financial Services Limited) | Digital/Online Loan Apps/Fintechs | Online instant loan | Barwaqt is currently under evaluation process of SECP. Barwaqt is a user-friendly online loan application in Pakistan, catering to immediate financial needs. With a streamlined application process, it provides quick and convenient access to financial assistance. The app offers flexibility with various loan options, allowing users to choose terms that suit their requirements. | All Provinces | |
| 119 | Paisayaar (JingleCred Digital Financial Services Limited) | Digital/Online Loan Apps/Fintechs | Online instant loan | Every one is elegible to get loan. It, offers swift, flexible, and secure loan services tailored for Pakistani citizens. With Paisayaar, users can conveniently apply for personal loans of up to Rs 25,000 at any time and from anywhere using their mobile phones. The loan terms range from 60 to 90 days, providing a concise and accessible financial solution to meet the immediate needs of users. | All Provinces | |
| 118 | SmartQarza-Safe easy cash loan | Digital/Online Loan Apps/Fintechs | Provide instant loan any time and anywhere using mobile App | Every one is elegible to get loan. Qarza App, simplifies the digital loan acquisition process with its user-friendly application interface. Upon downloading the app, users are seamlessly guided through a quick and straightforward procedure by a team of professionals, eliminating the complexities associated with traditional methods. The app allows for the selection of personalized loan options, and upon approval, ensures the secure and rapid transfer of funds to the user's account. In essence, Qarza App provides a streamlined and efficient solution for obtaining digital loans, combining convenience with expert support. | All Provinces | |
| 117 | Sarmaya Micro Finance | Digital/Online Loan Apps/Fintechs | Provide instant loan any time and anywhere using mobile App | Instant loans are provided to everyone in the country, for which a mobile app is required. Additionally, applicants need to provide a valid CNIC and other necessary information at the time of application. | All Provincess | |
| 116 | Seed Out | Digital/Online Loan Apps/Fintechs | establishing micro-entrepreneurs through interest-free Micro Financing, | Seed Out operates with a unique approach, allowing donors to choose candidates and directly fund them to establish or expand their startups. The beneficiaries can approach them through their field marketing and door to door mobilization. The field officers also recognize extremely needy individuals on the field. | Punjab | |
| 115 | Muawin Cashew Financial services Limited | Digital/Online Loan Apps/Fintechs | The digital lending services licensed by SECP and Provide loan to small retailers and kisan loan | Small retailers and farmers are eligible to get a loan, for which they are required to provide valid government-issued identification documents, such as a national ID card or passport, and a mobile number for communication. | Punjab | |
| 114 | State Life Insurance Corporation of Pakistan | Insurance Companies | Individual Life Insurance, Bancassurance, Health Insurance, Takaful etc. | All | ||
| 113 | East West Life Assurance Company Limited | Insurance Companies | Insurance (Fire & Property, Marine & Cargo, Health & Travel), Motor Insurance etc. | All | ||
| 112 | EFU Life Assurance Ltd. | Insurance Companies | Individual Insurance, Bancassurance, Group Insurance, Takaful etc. | All | ||
| 111 | Jubilee Life Insurance Company Ltd. | Insurance Companies | Individual Life Unit Linked, Conventional Business, Accident and Health, Overseas Group Life and Health Business Window, Takaful Operations | All | ||
| 110 | Adamjee Life Assurance Company Limited | Insurance Companies | Individual Life, Bancassurance, Corporate. | All | ||
| 109 | IGI Life Insurance Limited | Insurance Companies | Life insurance, accident and health insurance, retirement planning, family takaful and wealth management solutions. | All | ||
| 108 | TPL Life Insurance Limited | Insurance Companies | Insurance inclding Instant life, premier life, Sehat Zindagi, Epidemic Shield etc., Takaful | All | ||
| 107 | Pak Oman Asset Management Company Limited | Asset Management Companies | Investment Banking, Corporate Bank, Capital Markets, SME Financing etc. | All | ||
| 106 | ABL Asset Management Company Limited | Asset Management Companies | Equity Funds, Mutual Funds, Money Market Funds (Conventional as well as Sharia compliant) | All | ||
| 105 | Faysal Asset Management Limited | Asset Management Companies | Faisal Money market Fund, Faisal Cash Fund, Faisal Government Securities Fund, Faisal Income & Grwth Fund Faisal Islamic Cash Fund, Faisal Islamic Income Plan, Faisal Islamic Stock fund etc. | All | ||
| 104 | Atlas Asset Management Limited | Asset Management Companies | Mutual funds, Sharia Certificates, etc. | All | ||
| 103 | BMA Asset Management Company | Asset Management Companies | Equities, Asset Management, Investment Banking, InterBank, Financial Services | All | ||
| 102 | Al Meezan Investment Management Limited | Asset Management Companies | Moneymarket/Income fund, Equity funds,nIndex tracker fund , Meezan Paaidaar Munafa plan, Exchange traded fund etc. | All | ||
| 101 | MCB-Arif Habib Savings and Investments Limited | Asset Management Companies | Moneymarket/Income fund, Equity funds, Sharia Compliant fund, Voluntary pension schemes, Fixed return funds etc. | All | ||
| 100 | HBL Asset Management Limited | Asset Management Companies | Moneymarket/Income fund, Equity funds, Sharia Compliant fund, Voluntary pension schemes, Fixed return funds etc. | All | ||
| 99 | Habib Asset Management Limited | Asset Management Companies | Cash fund, Money market fund, Asset allocation fund, Pension fund, Islamic cash fund, Islamic munafa fund, Islamic saving fund, Islamic stock fund, Islamic pension fund etc. | All | ||
| 98 | Trust Modaraba | Modaraba Companies | Ijarah, Musharaka, Diminishing Musharaka, Murabaha, Project-financing, Other services. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 97 | Sindh Modaraba | Modaraba Companies | Ijarah, Diminishing Musharaka, Murabaha, Salam, Car-financing. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 96 | Popular Islamic Modaraba | Modaraba Companies | Ijarah, Diminishing Musharaka, Murabaha, Musharaka, Istisna, Salam, etc. Home-financing, car-financing and Islamic-financing | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 95 | Orient Rental Modaraba | Modaraba Companies | Power generator rentals, operation & maintenance, facilities management. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 94 | Modaraba Al-Mali | Modaraba Companies | Islamic Venture Capital/Private Equity transactions | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 93 | First UDL Modaraba | Modaraba Companies | Murabaha, Musharakah, Ijarah. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 92 | First Punjab Modaraba | Modaraba Companies | Murabaha, Musharakah, Ijarah, Diminishing Musharakah. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 91 | First Prudential Modaraba | Modaraba Companies | Murabaha, Musharakah, Ijarah, Diminishing Musharakah. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 90 | First Paramount Modarba | Modaraba Companies | Murabaha, Musharakah, Ijarah, Diminishing Musharakah. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 89 | First National Bank Modaraba | Modaraba Companies | Murabaha, Musharaka, Ijarah, Certificate of Musharka. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 88 | First IBL Modaraba | Modaraba Companies | Murabahah, Musharakah, Ijarah (Leasing). | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 87 | First Tri Star Modaraba | Modaraba Companies | Ijarah (Leasing) of plant, machinery, motor vehicles (both commercial and private) and computer equipment | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 86 | First Habib Modaraba | Modaraba Companies | Murabahah, Musharakah, Ijarah (Leasing). | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 85 | First Fidelity Leasing Modaraba | Modaraba Companies | Murabahah, Musharakah, Ijarah (Leasing). | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 84 | First Equity Modaraba | Modaraba Companies | Murabahah, Musharakah, Ijarah (Leasing), etc. | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 83 | First Elite Capital Modaraba | Modaraba Companies | Murabahah, Musharakah, Ijarah (Leasing) | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 82 | B.R.R. Guardian Modaraba | Modaraba Companies | Ijarah, Musharaka, Diminishing Musharaka, | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 81 | First Al-Noor Modaraba Management (Pvt) Limited | Modaraba Companies | Islamic Financial Services like Ijara, Murabaha, Musharakah, Musawamah, equity investment and trading activities | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 80 | Awwal Modaraba Management Limited | Modaraba Companies | Modaraba | 1. Murabaha (Agreed profit margin sale with cash or deferred payment of price) i) i) Murabaha means a sale of goods by a person to another under an arrangement whereby the seller is obliged to disclose to the buyer the cost of goods sold either on cash basis or deferred payment basis and a margin of profit included in the sale price of goods agreed to be sold. ii) Goods to be traded should be real, but not necessarily tangible goods. Credit documents cannot be the subject of Murabaha. iii) Being a sale transaction, it is essential that the commodities which are the subject of sale in a Murabaha transaction, must be existing, owned by the seller and in his physical or constructive possession. Therefore, it is necessary that the seller must have assumed the risks of ownership before selling the commodities to the buyer/customer. iv) Murabaha, like any other sale, requires an offer and acceptance which will include certainty of price, place of delivery, and date on which the price, if deferred, will be paid. v) In a Murabaha transaction, the appointment of an agent, if any, the purchase of goods by or for and on behalf of the bank and the ultimate sale of such goods to the customer shall all be transactions independent of each other and shall be so separately documented. An agreement to sell, however, may embody all the aforesaid events and transactions and can be entered into at the time of inception of relationship. The agent would first purchase the commodity on behalf of his principal i.e. financier and take its possession as such. Thereafter, the client would purchase the commodity from the financier, through an offer and acceptance. According to Sharia it is sufficient in respect of the condition of ‘possession’ that the supplier from whom the bank has purchased the item, gives possession to the bank or its agent in such a manner that subject matter of the sale comes under the risk of the bank. In other words, the commodity will remain in the risk of the financer during the period of purchase of the commodity by the agent and its ultimate sale to the client (agent/buyer) and its possession by him. vi) The invoice issued by the supplier will be in the name of the financier as the commodity would be purchased by an agent on behalf of such financier. It is preferable that the payment for such commodities should be made by the financier directly to the supplier. vii) Once the sale transaction has been concluded, the selling price determined cannot be changed. viii) It can be stipulated while entering into the agreement that in case of late payment or default by the client, he shall be liable to pay penalty calculated at percent per day or per annum that will go to the charity fund constituted by the bank. The amount of penalty cannot be taken to be a source of further return to the bank (the seller of the goods) but shall be used for charitable purposes including the projects intended to ameliorate economic conditions of the sections of the society possessing little or nothing i.e. needy people/peoples without means ix) The banks can also approach competent courts for award of solatium which shall be determined by the Courts at their discretion, on the basis of direct and indirect costs incurred, other than opportunity cost. Also, security or collateral can be sold by the bank (seller) without intervention of the court. x) The buyer may be required to furnish security in the form of pledge, hypothecation, lien, mortgage or any other form of encumbrance on asset. However, the mortgagee or the charge-holder shall not derive any financial benefit from such security xi) A Murabaha contract cannot be rolled over because the goods once sold by the bank become property of the client and, hence, cannot be resold to the same (or another) financial institution for the purpose of obtaining further credit. The bank can, however, extend the repayment date provided that such extension is not conditional upon an increase in the selling price of goods, originally agreed. xii) Buy-back arrangement is prohibited. Therefore, commodities already owned by the client cannot become the subject of a Murabaha transaction between him and any financier. All Murabaha transactions must be based on the purchase of goods from third party(ies) by the bank for sale to the client. xiii) The promissory note or bill of exchange or any evidence of indebtedness cannot be assigned or transferred on a price different from its face value. | All Provinces | |
| 79 | Taleem Finance Company | Investment Companies | Provide loan for construction of schools building, furniture, settingup of library or additional rooms, electric fittings, utility bills payment, teachers training course fee, learning aids and loan for canteen and uniform shops in schools | Private schools are eligible for financing, for which they will develop and submit a proposal for needs justification and loan utilization | All Provinces | |
| 78 | Pak Oman Investment Company Ltd | Investment Companies | SME financing for Sole proprietorship business - Partnership firms - Private limited companies - Public limited companies | Entities eligible to avail SME finance facilities from Pak Oman Investment Ltd include sole proprietorship businesses, partnership firms, private limited companies, and public limited companies. | Sindh,Punjab | |
| 77 | Security Leasing Corporation Ltd. | Non-Bank FinancialL Companies (NBFCs) | Autos, machinery, lease | General eleigibility criteria include: - A resident Pakistani aged between 22-55. - - -- Take home salary to be at least times of your monthly installment. Salary slip or certificate is required as proof, - If you are a self-employed person, proof of monthly income is required. - Bank Statement for last 6 months to 1 year is required - Your DATACHECK is clear that means you have not defaulted previously on any sort of loan obtained from a financial institution. | All Provinces | |
| 76 | SME Leasing Limited | Non-Bank FinancialL Companies (NBFCs) | Autos, machinery, medical equipments, etc. | General eleigibility criteria include: - A resident Pakistani aged between 22-55. - - -- Take home salary to be at least times of your monthly installment. Salary slip or certificate is required as proof, - If you are a self-employed person, proof of monthly income is required. - Bank Statement for last 6 months to 1 year is required - Your DATACHECK is clear that means you have not defaulted previously on any sort of loan obtained from a financial institution. | All Provinces | |
| 75 | Saudi Pak Leasing Company Limited | Non-Bank FinancialL Companies (NBFCs) | Auto Lease, consumer lease, generator lease, etc. | General eleigibility criteria include: - A resident Pakistani aged between 22-55. - - -- Take home salary to be at least times of your monthly installment. Salary slip or certificate is required as proof, - If you are a self-employed person, proof of monthly income is required. - Bank Statement for last 6 months to 1 year is required - Your DATACHECK is clear that means you have not defaulted previously on any sort of loan obtained from a financial institution. | All Provinces | |
| 74 | Pak Gulf Leasing Company Limited | Non-Bank FinancialL Companies (NBFCs) | Leasing/Ijarah, Vehicle Finance facility, Certificate of Investment | General eleigibility criteria include: - A resident Pakistani aged between 22-55. - - -- Take home salary to be at least times of your monthly installment. Salary slip or certificate is required as proof, - If you are a self-employed person, proof of monthly income is required. - Bank Statement for last 6 months to 1 year is required - Your DATACHECK is clear that means you have not defaulted previously on any sort of loan obtained from a financial institution. | All Provinces | |
| 73 | Primus Leasing Limited | Non-Bank FinancialL Companies (NBFCs) | Corporate lease, Commercial vehicle lease, Consumer vehicle lease/finance | General eleigibility criteria include: - A resident Pakistani aged between 22-55. - - -- Take home salary to be at least times of your monthly installment. Salary slip or certificate is required as proof, - If you are a self-employed person, proof of monthly income is required. - Bank Statement for last 6 months to 1 year is required - Your DATACHECK is clear that means you have not defaulted previously on any sort of loan obtained from a financial institution. | Punjab, Sindh | |
| 72 | OLP Financial Services Pakistan Limited (fromerly Orix Leasing Pakistan Limited) | Non-Bank FinancialL Companies (NBFCs) | Corporate lease, Consumer Auto lease, Commercial vehicle lease, Agri finance, Microfinance | General eleigibility criteria include: - A resident Pakistani aged between 22-55. - - -- Take home salary to be at least times of your monthly installment. Salary slip or certificate is required as proof, - If you are a self-employed person, proof of monthly income is required. - Bank Statement for last 6 months to 1 year is required - Your DATACHECK is clear that means you have not defaulted previously on any sort of loan obtained from a financial institution. | All Provinces | |
| 71 | Grays Leasing Limited | Non-Bank FinancialL Companies (NBFCs) | Car leasing, Corporate leasing | General eleigibility criteria include: - A resident Pakistani aged between 22-55. - - -- Take home salary to be at least times of your monthly installment. Salary slip or certificate is required as proof, - If you are a self-employed person, proof of monthly income is required. - Bank Statement for last 6 months to 1 year is required - Your DATACHECK is clear that means you have not defaulted previously on any sort of loan obtained from a financial institution. | Punjab | |
| 70 | Capital Assets Leasing Corporation Limited | Non-Bank FinancialL Companies (NBFCs) | The CompanyÂ’s principal line of business is that of a general-purpose holding company capable of making investments in a range of securities, intellectual property and other assets plied for hire. | General eleigibility criteria include: - A resident Pakistani aged between 22-55. - - -- Take home salary to be at least times of your monthly installment. Salary slip or certificate is required as proof, - If you are a self-employed person, proof of monthly income is required. - Bank Statement for last 6 months to 1 year is required - Your DATACHECK is clear that means you have not defaulted previously on any sort of loan obtained from a financial institution. | All Provinces | |
| 69 | Raqami Islamic Digital Bank Limited | Digital Retail Banks | Everyone who is eligible to get a normal personal loan is also eligible for online PL. So, salaried employees working with a private limited company, public sector undertakings, or a self-employed person with a minimum income/turnover criteria are eligible for this loan. | All | ||
| 68 | Mashreq Bank Pakistan Limited | Digital Retail Banks | Everyone who is eligible to get a normal personal loan is also eligible for online PL. So, salaried employees working with a private limited company, public sector undertakings, or a self-employed person with a minimum income/turnover criteria are eligible for this loan. | All | ||
| 67 | HugoBank Limited | Digital Retail Banks | Everyone who is eligible to get a normal personal loan is also eligible for online PL. So, salaried employees working with a private limited company, public sector undertakings, or a self-employed person with a minimum income/turnover criteria are eligible for this loan. | All | ||
| 66 | KT Bank Pakistan Limited | Digital Retail Banks | Everyone who is eligible to get a normal personal loan is also eligible for online PL. So, salaried employees working with a private limited company, public sector undertakings, or a self-employed person with a minimum income/turnover criteria are eligible for this loan. | All | ||
| 65 | Invest Capital Investment Bank Limited | Investment Banks | Car Financing , Motorbike loan, Home loan, Term loan, Personal loan, Corporate finance etc. | Eligibility criteria is case to case | Punjab/Sindh | |
| 64 | Trust Investment Bank Limited | Investment Banks | Investment Advisory Services, Securitization & Trusteeship Services, Real-Estate Advisory and Management Services, Equity Market Services, Money Market Advisory Services, Funds Management | Eligibility criteria is case to case | Punjab/Sindh | |
| 63 | Security Investment Bank Limited. | Investment Banks | Corporate Financing, Car Financing, Corporate Advisory Services | Eligibility criteria is case to case | Punjab/Sindh | |
| 62 | First Dawood Investment Bank Limited | Investment Banks | Leasing, loans, real estate, IPOs, Pre-IPOs, underwriting public issues, Trustee to corporate bonds / mutual funds, money market brokerage, banker to public issues etc. | Eligibility criteria is case to case | Punjab/Sindh | |
| 61 | First Credit & Investment Bank Limited | Investment Banks | Fund Based Operation, Financing facility against certificate of NSS, Consumer financing | Eligibility criteria is case to case | Punjab/Sindh | |
| 60 | Escorts Investment Bank Limited | Investment Banks | Microfinance, Housing finance, Corporate finance, Livestock Finance, Women Empowerment Loan | Salaried (Local / Expat): Permanent: Currently employed with total employment experience of at least 02 years. Contractual: Currently employed with total employment experience of at least 02 years. Professionals / Business Persons: Total Experience/Business tenure of at least 03 Years. Others: Continuous verified income stream of two years. Age: 23 to 55 years (for salaried), 23 to 57 years (for SEB/SEP/Others) Minimum Monthly Income: Salaried Local, Rs.120,000 (from all sources) Salaried Expat: US $ 5,000 or SAR 25,000, Self-Employed Professionals / Self-Employed Business / Others Rs. 150,000 (from all sources) | Punjab/Sindh | |
| 59 | Saudi Pak Industrial & Agricultural Investment Company Limited | Development Financial Institutions (DFIs) | Medium to long term loans, Lease financing, Term Finance Certificates (TFCs), Long Term Finance for Export Oriented Projects (LTF-EOP), SME Product & Services | Case to case | All Provinces | |
| 58 | Punjab Small Industries Corporation | Development Financial Institutions (DFIs) | Loaning facilities, advisory services, Industrial sector, Handicrafts shops, CDC centres. | Residents of Punjab can apply on prescribed format for loaning to their respective regional offices. | Punjab | |
| 57 | Pak-Libya Holding Company Limited | Development Financial Institutions (DFIs) | Investment Banking, Treasury & fund management, SME financing, Home loan mortgage | Case to case | All Provinces | |
| 56 | Pakistan Kuwait Investment Company Limited | Development Financial Institutions (DFIs) | Treasury, Capital markets, Corporate and investment banking group, Certificate of investment, Islamic finance division | Case to case | All Provinces | |
| 55 | Pak-China Investment Company Limited | Development Financial Institutions (DFIs) | Investment Banking, Corporate Banking, SME Banking, Treasury & Financial Institutions, Economic Review | Case to case | All Provinces | |
| 54 | Pak Oman Investment Company Limited | Development Financial Institutions (DFIs) | Investment Banking, Corporate Banking, Certificates of Investment, Investor Portfolio Securities (IPS), Treasury, Capital Markets, SME Financing | Case to case | All Provinces | |
| 53 | Pak Brunei Investment Company Limite | Development Financial Institutions (DFIs) | Investment Banking & Advisory Services, SME & Agro Division, Corporate banking, Treasury and Capital market division | Case to case | All Provinces | |
| 52 | PAIR Investment Company Limited | Development Financial Institutions (DFIs) | Treasury and Investments, Credit and Trade Finance, Marketing, Investment Banking | Proprietorship Concern, Partnership Concern, Private Limited Concern | All Provinces | |
| 51 | House Building Finance Company Limited | Development Financial Institutions (DFIs) | Loan for housebuilding | All Pakistanis either slalaried or self employed can apply. The requirements include slaray slip, bank statement, NIC, affidavit etc. | All Provinces | |
| 50 | Tameer Micro Finance Bank | Microfinance Banks | provide micro-finance and related financial services to the less privileged and unbanked segment of the society. | All Provinces | ||
| 49 | ASA Pakistan Ltd | Microfinance Banks | Provide small loan for business and small and medium enterproze loan | Micro Small and medium enterprise (MSME) loan is a product which is offered to both male and female entrepreneurs to support their existing enterprise.Loan for existing business expansion only and loan ceiling is PKR 100,000 - 200,000 and age limit is 25-55 years. | Sindh | |
| 48 | Khushali Micro Finance Bank | Microfinance Banks | ME Loan, SME Loan, Housing Loan, General Loan | Small business men and women owners are eligible for a loan if their business has been operating at the same location for a minimum of 2-3 years. KMBL clients or applicants from other banks without a bad credit history are considered for the loan. Individuals aged between 25 to 60 years, holding a valid CNIC/SNIC, can apply. The loan tenure ranges from 6 to 60 months. | KPK | |
| 47 | Finca Microfinance Bank | Microfinance Banks | Microfinance services | To qualify for an SME loan from Finca Microfinance Bank, businesses need to provide essential documentation, demonstrate financial viability, maintain a positive credit history, and align with the institution's policies. Clear repayment terms are established upon approval, with ongoing support provided by the bank. | Punjab | |
| 46 | Union Microfinance | Microfinance Banks | Union Microfinance is providing small loans to low-income individuals. | To qualify for a loan from Union Microfinance, applicants need to be aged 18-60, provide valid identification, demonstrate a stable income source, and reside in the operational area. A positive credit history, adherence to specific loan purposes, and compliance with microfinance policies are essential. | Sindh | |
| 45 | Sayya Micro Finance Company | Microfinance Banks | Loans ranging from Rs. 25,000 to Rs. 75000 for each individual to purchase input supplies i.e. seeds, fertilizer, pesticides, provide intrest free loan | To qualify for a loan from Saya Microfinance Company, applicants should be aged 18-60, show a stable income, and have a positive credit history. Residency in the operational region and proper identification are required. The loan purpose may have specific guidelines, and borrowers may need to provide a group or individual guarantee. Women may receive priority. Compliance with the institution's policies is essential, including attending financial literacy programs. whereas for Intrest free loan a. The loan provided shall be used for productive economic activities/ small enterprises b. All beneficiaries must be from 0 to 40 on Poverty Score Card (PSC) AND having valid National Identity Card and should be resident of the target area. c. All beneficiaries should be between the age of 18 to 60 years. d. Having viable business plan. e. At least 10% of loans will be disbursed to women. however, efforts will be made to entertain more women than the committed 10%. f. Not involved in illegal and criminal activities. g. The beneficiary should not be defaulter of any other organization. | Punjab | |
| 44 | Akhuwat Islamic Microfinance Company | Microfinance Banks | Family Enterprize loan, agriculture loan,housing loan, education loan,marriage and emergency loan,enterprize development,Intrest free loan | Applicant should have a valid CNIC, age between 18-62 years, having ability to run/initiate business activity, should not be convicted of any criminal offence, will provide two guarantors other than family members and should be resident of operational area of Akhuat branch office | All Provinces | |
| 43 | U Microfinance Bank Limited | Microfinance Banks | Solar financing, home loan, agriculture loan, Bharta karobar loan, livestock loan, motor bike loan and women financial services | for Bharta karobar loan The loan amount ranges from PKR 50,001 to 600,000, with a loan tenure of 06 to 24 months whereas for bharta karobar plus Loan amount from PKR 600,001 to 3,000,000 and Loan tenure 12 – 84 months. Documents required are Original CNIC One passport size picture Proof of business Utility bill Guarantor required | All Provinces | |
| 42 | HBL Micro Finance Bank (formerly The First MicroFinanceBank Ltd) | Microfinance Banks | Private Institution Finance, Home loan, Nano Loan,DAP enterprize finnace,Kisan and karobar loan, student finance and women finnacial services | for Nano loans A short-term credit facility of up to PKR 10,000 for HBL MfB customers through FirstPay app., is approved and disbursed instantly through Artifical Intelligence based loan system, giving direct access to quick branch-less financing during emergencies. whereas A finance facility of up to PKR 350,000 for differently-abled persons to facilitate them in starting or expanding their business or get vocational training. for loan upto PKR 150,000 maximum annual income should be upto 1,200,000, valid CNIC, age between 18-65 years | All Provinces | |
| 41 | Telenor Micro Finance Bank | Microfinance Banks | Karobar loan,Micro enterproze loan,Karobari arza for women, Sarmaya Qarza | Microenterprises loans are provided in the fields of trading, manufacturing, services and dairy farming that lead to livelihood improvement and income generation. Borrower age limit from 18 years to maximum 65 years (at maturity) and loan tenure is 12 months | All Provinces | |
| 40 | Mobilink Microfinance Bank | Microfinance Banks | Bint-e-Hawwa Loan, Agriculture loan,Livestock loan,Khushal Kissan Loan,Karobar Loan,Khushal Kisan Value Chain loan, Micro enterprize loan | Microenterprise Loan is offered against Gold/Gold Ornaments to cater to the needs of individuals having ownership of a running business in the following economic sectors: Trade, Production, Manufacturing, Services, Agriculture, Live Stock, etc. Loan tanure is 12 months whereas Karobar Loan is an ‘Individual Loan’ with acceptable personal guarantee. The loan may be utilized to expand micro-enterprises / small businesses | All Provinces | |
| 39 | Sindh Micro Finance Bank | Microfinance Banks | Livestock Financing, Agriculture loan, fisheries loan,Sujag Aurat loan,Karobar loan Sawari loan | for business loan submission Business plan, guarantors, and legal documents | Sindh | |
| 38 | NRSP Micro Finance Bank | Microfinance Banks | Provide agriculture loans, women empowerment group loan, livestock individual loan, housing loan and micro enterprize loan | For micro enterprize loan Providing a clear and viable business plan, Collateral or Guarantees and being located in atea served by NRSP | Punjab,Sindh, KPK | |
| 37 | Khushhali Micro Finance Bank | Microfinance Banks | To Establish a sustainable platform of financial services to the poor accompanied with retail delivery mechanisms To Facilitate an environment where microfinance can prosper within Pakistan To Assist the central bank in setting up an appropriate and a responsive framework where microfinance institutions operate on sustainable grounds, thereby expanding their outreach to the poor | for SME financing Valid CNIC/SNIC holder Age: 20 years and above Individuals: Self-employed, SME owners, Salaried (with alternate business) KMBL customers having TDC/ Current/ Saving accounts National/ Defense Savings certificate holders | All Provinces | |
| 36 | Apna Micro Finance Bank | Microfinance Banks | Apna Microfinance Women finnacial services and micro finance loans | To qualify for the loan, applicants must submit a copy of their CNIC, two passport-size photos, and recent utility bills. The application requires two personal guarantees from creditworthy individuals, each with a copy of their CNIC. Business proof, two security cheques, and collateral are also mandatory. Acceptable collateral includes two personal guarantees from reputable local individuals or a lien/mortgage on residential, commercial property, or an Agri Pass Book. | All Provinces | |
| 35 | Advans Pakistan Microfinance Bank (Advans Pakistan MFB) | Microfinance Banks | Advans Pakistan Microfinance Bank was granted a license by the State Bank of Pakistan on 28 June 2012 to operate as microfinance bank in the province of Sindh. | The bank's aim is to provide microfinance banking and related services to the poor and underserved segment of the society as envisaged under the Microfinance Institutions Ordinance, 2001. | Sindh | |
| 34 | Industrial Development Bank of Pakistan | Domestic Private Banks | Provide loans for industrial development | |||
| 33 | Industrial and Commercial Bank of China | Domestic Private Banks | Provide loans for industrial development | |||
| 32 | Deutsche Bank A.G. | Domestic Private Banks | Corporate finance solutions, M&A advice, debt and equity capital market products (both conventional and ESG compliant) and structured trade finance solutions. | |||
| 31 | Citi Bank N.A. | Domestic Private Banks | Provide personal and corporate loans and eleigibility varies from case to case | |||
| 30 | Bank of China Limited Pakistan Operations | Domestic Private Banks | Provide personal and corporate loans and eleigibility varies from case to case | Case to case | ||
| 29 | United Bank Ltd | Domestic Private Banks | Provide loan to salaried persons,car loan, house loan and loan for business | For a business loan, the minimum age requirement is 21 years, and the maximum age, in the case of a Proprietor, is 65 years. Additionally, applicants should have a minimum of 3 years of relevant business experience and provide a valid CNIC, property documents, financial statements, bank statements, and a customer request letter (Loan Application Form). | All Provinces | |
| 28 | Summit Bank | Domestic Private Banks | Provide PM youth business loan, PM youth business finance and offers financial assistance to the farmer community engaged in the Production & Development of Agricultural Sectors | For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. | All Provinces | |
| 27 | Standard Chartered Bank | Domestic Private Banks | Provide personal loan, housing loanand loan for business | For personal loans, eligibility involves factors such as stable income, and age within a specified range. whereas for Business loan eligibility is considers the business type, a comprehensive business plan, creditworthiness, financial statements, and compliance with legal requirements. | All Provinces | |
| 26 | Soneri Bank Ltd. | Domestic Private Banks | Agriculture and SME Financing, Loan for startup business, Small & Rural enterprise operating in under-served areas of the country | Provide loan to Small and Medium Enterprises (SMEs) in accordance with the following eligibility criteria: Small Enterprises: Annual Sales Turnover: PKR 25 million to PKR 250 million Fixed Assets: PKR 25 million to PKR 250 million Employees: 11 to 50 full-time employees Medium Enterprises: Annual Sales Turnover: PKR 250 million to PKR 800 million Fixed Assets: PKR 250 million to PKR 800 million Employees: 51 to 250 full-time employees whereas for startup business loan and rural enterprize proper business plan development and submitting other required documentation | All Provinces | |
| 25 | Sindh Bank Limited. | Domestic Private Banks | Consumer banking, SME financing, Agricultural loans, PM youth business and agricultural loans. | For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. | All Provinces | |
| 24 | Silk Bank Ltd. | Domestic Private Banks | Provide running finances, SME loan and personal loan | Provide loan to Small and Medium Enterprises (SMEs) in accordance with the following eligibility criteria: Small Enterprises: Annual Sales Turnover: PKR 25 million to PKR 250 million Fixed Assets: PKR 25 million to PKR 250 million Employees: 11 to 50 full-time employees Medium Enterprises: Annual Sales Turnover: PKR 250 million to PKR 800 million Fixed Assets: PKR 250 million to PKR 800 million Employees: 51 to 250 full-time employees | All Provinces | |
| 23 | Samba Bank Ltd. | Domestic Private Banks | Samba Bank provides loans to Small and Medium Enterprises to meet their working capital requirements and business expansion plans to various sectors | Samba Bank provide loan to Small and Medium Enterprises (SMEs) in accordance with the following eligibility criteria: Small Enterprises: Annual Sales Turnover: PKR 25 million to PKR 250 million Fixed Assets: PKR 25 million to PKR 250 million Employees: 11 to 50 full-time employees Medium Enterprises: Annual Sales Turnover: PKR 250 million to PKR 800 million Fixed Assets: PKR 250 million to PKR 800 million Employees: 51 to 250 full-time employees | All Provinces | |
| 22 | Meezan Bank Ltd. | Domestic Private Banks | Provide Prime Minister youth Business loan, provide financing to small Karyana stores, | For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. | All Provinces | |
| 21 | MCB Islamic Bank Limited. | Domestic Private Banks | Provide loans to customers under Sharia compliant system | Eligibility for the credit facilities is assessed on case to case basis. | All Provinces | |
| 20 | Muslim Commercial Bank | Domestic Private Banks | Financing provided to Women Entrepreneurs operating throughout the country, for setting up of new business enterprises or for expansion of existing ones, personal loan for salaried women, financial relaxation to PWDS, home loan, student loan and micro personal loan | Eligibility for the credit facilities is assessed on case to case basis. | All Provinces | |
| 19 | JS Bank | Domestic Private Banks | Provide personal loan, housing loan, solar loan, salary loan and loan for women enterprizes and Prime Minister Youth business and agriculture loan | For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. Whereas SME financing is available for businesses operating in various sectors, including Information Technology (IT), furniture, surgical goods, gems and jewelry, dates processing, leather industry, printing & packaging, as well as fruits, vegetables, and food processing & packaging. | All Provinces | |
| 18 | Habib Metropolitan Bank Ltd. | Domestic Private Banks | SME and Agri financing | The Bank provide loan to Small and Medium Enterprises (SMEs) in accordance with the following eligibility criteria: Small Enterprises: Annual Sales Turnover: PKR 25 million to PKR 250 million Fixed Assets: PKR 25 million to PKR 250 million Employees: 11 to 50 full-time employees Medium Enterprises: Annual Sales Turnover: PKR 250 million to PKR 800 million Fixed Assets: PKR 250 million to PKR 800 million Employees: 51 to 250 full-time employees | All | |
| 17 | Habib Bank Ltd. | Domestic Private Banks | Provide personal loan, car loan, | Applicants for a personal loan from HBL are required to fall within the age range of 21 to 60 years, and the bank evaluates their income to ensure a stable and sufficient financial capacity for loan repayment. | All Provinces | |
| 16 | Faysal Bank Ltd. | Domestic Private Banks | Provide personal loan, Business financing | Faysal Bank evaluate eligibility based on various factors, including creditworthiness, income, employment status, and the purpose of the loan. | All Provinces | |
| 15 | Dubai Islami Bank Pakistan Ltd. | Domestic Private Banks | SME financing, Agri financing | The Bank provide loan to Small and Medium Enterprises (SMEs) in accordance with the following eligibility criteria: Small Enterprises: Annual Sales Turnover: PKR 25 million to PKR 250 million Fixed Assets: PKR 25 million to PKR 250 million Employees: 11 to 50 full-time employees Medium Enterprises: Annual Sales Turnover: PKR 250 million to PKR 800 million Fixed Assets: PKR 250 million to PKR 800 million Employees: 51 to 250 full-time employees | All Provinces | |
| 14 | Bank Islami Pakistan Ltd. | Domestic Private Banks | SME financing, Agri financing | The Bank provide loan to Small and Medium Enterprises (SMEs) in accordance with the following eligibility criteria: Small Enterprises: Annual Sales Turnover: PKR 25 million to PKR 250 million Fixed Assets: PKR 25 million to PKR 250 million Employees: 11 to 50 full-time employees Medium Enterprises: Annual Sales Turnover: PKR 250 million to PKR 800 million Fixed Assets: PKR 250 million to PKR 800 million Employees: 51 to 250 full-time employees | All Provinces | |
| 13 | Bank Alhabib Ltd. | Domestic Private Banks | Offer short term and long term SME finnacing. Women SME financing | The Bank provide loan to Small and Medium Enterprises (SMEs) in accordance with the following eligibility criteria: Small Enterprises: Annual Sales Turnover: PKR 25 million to PKR 250 million Fixed Assets: PKR 25 million to PKR 250 million Employees: 11 to 50 full-time employees Medium Enterprises: Annual Sales Turnover: PKR 250 million to PKR 800 million Fixed Assets: PKR 250 million to PKR 800 million Employees: 51 to 250 full-time employees | All | |
| 12 | Bank Alfalah Ltd. | Domestic Private Banks | Alfalah Karobar finance,Prime Minister Business and agriculture loan scheme,credit to vender of largecorporate,instant loan, Merchant loan | For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. | All Provinces | |
| 11 | Askari Bank Ltd. | Domestic Private Banks | Prime Minister Youth business and agriculture loan scheme, provide loan to women for small and medium enterprize, Kissan evergreen finnace,Kissan livestock development finnace,Kissan Abpashi finance | For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. | All Provinces | |
| 10 | Allied Bank Ltd. | Domestic Private Banks | Prime Minister's Home loan • Kamyab Jawan Program • Allied Business finance • Fast finance • Agriculture finance • Personal finance • Allied Solar Finance • Allied Home Finance • Allied Car Finance/ Islamic Car Ijarah | For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. | All Provinces | |
| 9 | Albaraka Bank Ltd. | Domestic Private Banks | Provide loans under Prime MinisterÂ’s Kamyab Jawan Youth Entrepreneurship Scheme and SME financing | For PM youth enterprenuership All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket. | All Provinces | |
| 8 | The Punjab Provincial Cooperative Bank Ltd. | Specialized Banks | Provide Microfinance loan, agriculture loan,business loan and personal loan | Microfinnace services are provided for small enterprizes | Punjab | |
| 7 | Zarai Taraqiati Bank Ltd. | Specialized Banks | Provide Loas upto 0.500 million (Asan Qarza scheme for youth and Khawateen rozgar scheme for women) | For Khawateen Rozgar scheme All new/old creditworthy rural women having technical know-how and capacity to repay are eligible to get financing for farming and non-farming activities. For Asan Qarza All creditworthy & reputable youth with an age limit from 18-35 years has the capacity to repay and are eligible to apply for a large number of activities under this scheme. | All Provinces | |
| 6 | SME Bank Ltd. | Specialized Banks | SME Financing | All Provinces | ||
| 5 | The Bank of Punjab | Public Sector Commercial Banks | Provide SME Loan | Eligibility for the credit facilities is assessed on case to case basis. | All Provinces | |
| 4 | The Bank of Khyber | Public Sector Commercial Banks | Agri finance, car and home loan, loan for skilled workers (Khud Kafalat Scheme), loan for youth entrepreneurship,Insaaf Rozgar scheme | Eligibility for the credit facilities is assessed on case to case basis. | KPK | |
| 3 | Sindh Bank Ltd. | Public Sector Commercial Banks | Prime minister youth business and agriculture loans, SME financing,Running finance, cash finance, working capital finance | Eligibility for the credit facilities is assessed on case to case basis. | Sindh | |
| 2 | National Bank of Pakistan | Public Sector Commercial Banks | Prime Minister youth Business loan, student loan | Eligibility for the credit facilities is assessed on case to case basis. | All Provinces | |
| 1 | First Women Bank Ltd. | Public Sector Commercial Banks | Small Medium Enterprize (SME) Finance and solar loan | Eligibility for the credit facilities is assessed on case to case basis. | All Provinces |