Key Features

Description	Specific Product Details
Underlying Mode	Shirkat-ul-Milk cum Ijarah-Sale and Lease Back
Target Customers	Salaried Personnel (permanent and contractual employees) Armed Forces including retired personnel Government Employees Self Employed Person/ Businessman AKBL staff Pensioners/Tax returns/ individuals with rental/ agricultural income/ foreign remittance / any other individual with verifiable source of income.
Purpose	Financing against acceptable Asset(s) to cater any immediate halal cash need such as education, marriage, medical expenses, holiday planning, or meeting any other emergency need.
Financing Limit	Minimum PKR 100,000 Maximum PKR 5.0M and can be extended up to 7.0M on case to case basis /or as per SBP’s regulations amended from time to time. (Aggregate Secured and Unsecured Financing (personal finance + credit cards) of the customer (from AKBL + industry) shall not exceed the maximum financing limit.)
Equity Participation in Musharak Asset	Minimum share % of the Customer: 15% of FSV of Asset(s) Maximum investment of the Bank: 85% of FSV of Asset(s)
Currency	Pak Rupees Only
Pricing	Sr. No. Type of Customers Variable Fixed for whole tenure 01. Branch Customers 12 Months KIBOR + 5% 12 Months KIBOR + 10% 02. Non-Branch Customers 12 Months KIBOR + 6% 12 Months KIBOR + 12%
Tenor	Minimum 1 Year Maximum 4 years (as amended by the SBP from time to time)
Age of Customers	Salaried Individuals Minimum 21 Years Maximum 62 Years Business / Self Employed Persons Minimum 21 Years Maximum 65 Years

Documents Required

General Documents

1. Duly filled & Signed Application form
2. Two recent passport size photograph
3. Copy of valid CNIC/POC/NICOP or passport of applicant
4. Last six months Bank’s Statement (Salary Account for Salaried Individuals)
5. Six Months Bank’s statement in personal name or on a joint account or on Company Name (for SEB/SEP)
6. Specimen Signature Card
7. Proof of Income/Salary slip/pension book (original & attested)
8. Proof of income from Rented Property, titled document and rental deeds, 6-months Bank statement. Income will be taken through verified rental deed/Ban statement.
9. Copy of the latest contract signed with the employer (for Contractual Employees)
10. One year business existence proof (for SEB & SEP)

Business Proof Documents (for SEB & SEP) 

Any of following documents may be obtained as a business proof.

1. Sole proprietorship bank letter
2. Partnership – Bank letter (or) partnership deed
3. In case of director of Private/Public limited companies, latest Form – 29 attested by SECP
4. NTN Certificate
5. Paid utility bill in the name of business/customer related to business place
6. Franchise Letter from relevant company
7. Ownership documents for business premises in the name of business/ customer
8. Business Premises Rent/ Lease Agreement in the name of business/ customer
9. Business Property tax documents
10. Business Transaction data will be acceptable for companies having audited financials of last 3 years (e.g., Sale & Purchase receipt, copies of ledgers/ accounts being maintained by business)