To improve women’s access to financial products and services and to help them transform their lives by providing equal access to affordable Islamic financial services, Meezan Bank is offering an exclusively designed holistic products suit under the umbrella “Meezan Women First”.
In addition to liability services, the Bank is also providing asset financing specifically tailored for women which includes SME, Commercial and Agriculture financing. As a Bank, we are committed to supporting women entrepreneurs in their business ventures.
In line with the Government of Pakistan’s and State Bank of Pakistan’s (SBP) measures for improving access to finance for female entrepreneurs, a Refinance & Credit Guarantee Scheme has been introduced for female entrepreneurs. Under the scheme, Meezan Bank is providing financing facilities to women for their business ventures.
Financing shall be available to women entrepreneurs across the country.
Financing shall be available to female business owners/entrepreneurs operating business/ about to start new business throughout the country.
Financing under the scheme should be provided to women obligors preferably under the personal guarantee of the obligor for setting up of new business enterprises or for expansion of existing ones.
Maximum financing limit under the scheme will be Rupees Five million (PKR 5,000,000/-).
Up to 5 years including a grace period of up to 6 months.
End user rate will be up to 5% per annum (p.a.)
Payment of financing shall be made in equal quarterly instalments after grace period (if any).
Women entrepreneurs (Individual, Partnership, SMEs) can avail financing for expansion and start-ups. Some of these businesses may include:
To provide self-employment opportunities for women, the Government of Pakistan has introduced financing scheme under the banner of Prime Minister Youth Business & Agri Financing Scheme (PMYB & AFS) offering subsidized financings to meet long-term and short-term financing needs.
All female citizens of Pakistan holding CNIC, aged between 21 and 45 years with entrepreneurial potential.
For IT/E-Commerce related businesses, the lower age limit will be 18 years with at least matriculation or equivalent education.
Age limit relaxation is applicable on individuals and sole proprietors. In case of all other forms of business including partnerships and companies, only one of the owners, partners or directors must be in the age bracket prescribed above.
Small and Medium Enterprises (start-ups and existing businesses) owned by youth as per above mentioned age brackets are also eligible.
In case of agriculture, farmers’ classification as per SBP’s “Indicative Credit Limits & Eligible Items for Agriculture Financing 2020” will be applicable.
Financing under the scheme should be provided to women obligors preferably to meet their working capital requirements, capital expenditure or procurement of vehicle.
Maximum financing limit under the scheme will be:
Tier 2 (T2): Above PKR 0.5 million and up to PKR 1.5 million
Tier 3 (T3): Above PKR 1.5 million and up to PKR 7.5 million
For long term: Up to 8 years including grace period of up to 1 year.
For short term: Up to 5 years including grace period of up to 2 years.
End user rate will be:
T2: 5%
T3: 7%
Payment of financing shall be made in equal monthly instalments after grace period (if any).
As per Bank’s policy
For New Businesses:
T1 & T2 - 90:10
T3 - 80:20
The obligor’s contribution of equity would be in the form of cash or immovable property and will be required after approval of financing.
For Existing Businesses:
Nil for all tiers
Women entrepreneurs (Individual, Partnership, SMEs) can avail financing for expansion and start-ups. Some of these businesses may include:
Women First Account
Women First Consumer Finance