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Opportunities for Pakistan’s Youth

Meezan Bank has designed a set of schemes for providing Shariah-compliant financing facilities under the PYMBL program. PMYBL is a program of the Government of Pakistan aimed at socio-economic development of the country’s youth. The program will provide a broad canvas of schemes focused on enabling the country’s youth to get employment opportunities.

Financing Categories

Small Entrepreneur
Small Entrepreneur

Unemployed youth, especially educated ones who are looking for establishing or extending Shariah-compliant business in their personal capacity through establishment of enterprise.

Micro Enterprise
Micro Enterprise

Individuals who have successfully completed 3-4 cycles with Akhuwat and want to graduate from their current business size.

Agriculture (Tractor Ijarah)
Agriculture (Tractor Ijarah)

Young farmers who require Tractor financing.

Car Ijarah
Car Ijarah

Vehicles like Bolan & Ravi will be financed for the purpose of Taxi, Delivery Vans and similar activities etc.

Key Features

Key Features

  • Financing Amount : Up to Rs 2.0 M (except in Micro Enterprise where it is Rs 0.1M to Rs 0.2 M)
  • Profit Rate : 6% p.a. for customer. Government will pay the difference of the cost at K+5%
  • Customer Contribution : Min 10% (except in Tractor Finance where it is 20% minimum)
  • Security : Ownership of asset in case of Ijarah. Personal Guarantee of applicant & Third party guarantee of either one guarantor or maximum three guarantors with combined net worth of 1.5 times of finance amount. Hypothecation of business assets Post dated cheques In lieu of guarantee or as per Bank’s internal policy, Bank may seek (on case to case basis) immoveable property (residential, commercial or agricultural) either in applicant’s name or guarantor’s name with 1.5 times of value of the finance amount.
  • Tenor : Up to 8 years

Eligibility

  • Applicant may be Men or Women holding valid CNIC, aged between 21 & 45 years with entrepreneurial potential.
  • Applicant & Guarantor should not be a defaulter of any bank (clear e-CIB & Datacheck).
  • Applicant must be living in the area, from where he/she is applying for financing, for a minimum period up to three years.
  • Applicant and guarantor must not be convicted by any Court of Law.
  • In case of Tractor Ijarah, the farmer must own agriculture land of at least five acres.
  • Credit history of applicant & guarantor must be clean.
  • For financing under micro enterprise proven entrepreneurial potential of applicant and his successful completion of 3-4 cycles of Qarz-e-Hasana with Akhuwat is desired.
  • Guarantor must not be an employee of Meezan Bank.

Helpful Downloads: Application Form