Lighting the Way to Sustainable Growth!
Askari Bank’s Islamic Ujala Finance is a Shariah-compliant solution designed to facilitate SMEs in installing solar energy systems as an alternative power source. This product enables businesses to adopt renewable energy, reduce operational costs, and move towards cleaner, more sustainable power solutions. Supporting the transition to solar empowers SMEs to achieve long-term efficiency and energy independence.
Switch to renewable energy with Askari Islamic Banking today.
| Features | SME (Category-II) | Suppliers / Vendors (Category-III) |
| End User / Borrower | Desirous of installing renewable energy source (i.e. solar, etc.) based projects/solutions for the generation of electricity under below categories: – A. SME financing, i.e. i. Sole proprietors ii. Partnership concern iii. Private Limited companies iv. Limited companies. |
A. AEDB certified Vendors / Suppliers B. EPC Contractors of an energy sale company, certified under AEDB for the installation of wind and solar systems on a lease basis or the selling of electricity to ultimate owners/users. |
| Energy Capacity | SE from 10 KW to 200KW, ME from 30 KW to 500KW | From 30 KW to 500KW |
| Usage / Purpose | Energy generation for own use or for supply to the distribution company / NEPRA | Onward leasing of renewable energy equipment / deferred payment sales / rental basis, or sale of electricity to ultimate users |
| Equity Participation | Minimum 20% of the total cost of the cost of solar equipment to be installed. | Not specified |
| Loan Amount | i. Small Enterprise – upto Rs. 15 M, ii. Medium Enterprise – upto Rs. 25M | From Rs. 5M to 25 Million – Single Vendor |
| Markup Rate | Competitive Markup rates | Competitive Markup rates |
| Loan Term | i. SE/ME borrowers: 05 years, inclusive of the grace period of 03 months. | 05 years inclusive of a grace period of 06 months |
| Grace Period Inclusive of Total Period | 3 Months | 6 Months |
| Repayment of the instalment frequency | SE/ME Borrowers: Monthly / Quarterly | Quarterly/Half Yearly (as per borrower’s cash flow) |
| Security / Collateral | SE/ME Financed equipment to be hypothecated. Additional Collateral in the form of a mortgage of property and/or HPA on a vehicle and/or liquid assets and/or any other eligible collateral as per the bank policy | For suppliers and Vendors, the following security is eligible: 1. Lien on equipment 2. Mortgage of property 3. Liquid Assets as per AKBL policy. |
| Solar Equipment | Only Tier 1 Inverters are eligible to be installed | Only Tier 1 Inverters are eligible to be installed |
