ICAP Collaboration with BankIslami Pakistan – SBP Refinance Scheme for Salaries & Wages

The Institute has collaborated with BankIslami Pakistan Limited to facilitate our Practicing Members in obtaining financing facility under ‘SBP Refinance Scheme for Salaries and Wages’.

BankIslami Pakistan will be providing priority services to the applicant Firms with dedicated help desk.

Key Terms of SBP Refinance Scheme:

  • Purpose:  Financing of Salaries & Wages (April to Sep 2020) to support Employment.
  • Pricing: End Borrower Rate: Filer @ 3% p.a and Non Filer @ 5% p.a.
  • Repayment​:  ​2.5 years, inclusive of 6 months grace period.
  • Cut-off date for application: 30-09-2020.

Please refer letter for details. Interested Firms may contact the respective focal person of BankIslami for assistance.

Please note that the financing facility would be a bilateral arrangement/agreement between BankIslami Pakistan and the Firm (Applicant).

Under any circumstances

  1. ICAP will neither be privy to such arrangement/agreement nor will it confer any right or benefit to ICAP
  2. ICAP will not become part of any dispute, recovery and legal proceedings arising out of such arrangement/agreement
  3. ICAP will not be held liable and responsible for process, screening, approval, default or breach of any term of arrangement/agreement by the Firm and BankIslami.