LC -Sight (Import Program) – SME | Askari Bank Limited Pakistan

LC -Sight (Import Program) – SME

Overview

Seamless Imports, Timely Growth!

Askari Bank’s LC-Sight (Import Program – SME) is designed to facilitate the import needs of SMEs by enabling swift and reliable execution of trade transactions. With a focus on smaller ticket imports, the program helps businesses capitalise on growth opportunities by ensuring timely payments to overseas suppliers. This not only streamlines trade activity but also empowers SMEs to strengthen their supply chains and enhance competitiveness in both local and global markets.

Apply today to accelerate your trade with Askari LC-Sight (Import Program).

Product Features

Description	Features
Nature of Finance	Letter of Credit – Sight (Import)
Type of Limit	Regular & OTT (Over the Top)
Financing Limit	Up to Rs. 30 Million
Per Party Exposure Limit	Maximum exposure against LC(s) with 15% cash margin should not exceed Rs. 30 Million.
Pricing	As per Schedule of Charges (SOC)
Principal Repayment Frequency	Upon retirement of LC
Mark-up / Commission Frequency	Upfront PAD (As per SOC)
Tenor	One year / Sight
Processing Charges	Flat fee: Rs. 3,000/- Legal / Documentation charges: At actual cost
Security / Collateral	15% cash margin (or SBP requirement, whichever is higher) Lien over import documents Personal Guarantees (PGs) of sponsors/directors with supporting net worth statement Any other document required by the bank
Enhanced Limit	Exposure up to Rs. 200 Million allowed (above Rs. 30 Million) under PPM (subject to 105% cash collateral via lien over AKBL accounts/TDRs/Islamic Certificates) for NTBs only.

Eligibility Criteria

Criteria	Requirement
Applicant’s legal structure	Sole Proprietor/AOP/Partnership/Pvt. Ltd. Companies
Business age	Above One Year In case of Start- up or age below one-year CH- SME approval required (excluding 105% cash collateral).
eCIB /Overdue confirmation from other banks	eCIB required as per SBP PRs. eCIB/overdue confirmations from other banks to be obtained at the time of initiation and /or renewal of credit facility. Clean eCIB history during the last 12 months with no overdue instances above 30 days. Obligor with write off / litigation is not eligible; however, writeoffs pertaining to wrongly debited charges with respect to Credit Cards etc. up to Rs. 15,000/- will be acceptable.
Market check	Clear news-VIS report
FCY eligible currencies	USD, Euro, GBP, CNY currencies only.
Targeted Cities	Initially following major cities are targeted for this product: Rawalpindi Islamabad Peshawar Lahore Multan Sialkot Faisalabad Gujranwala Karachi Note: Other cities can be added at later stage upon approval by CCO
Green Banking Guidelines	To be followed as per AKBL Policy/SBP Guidelines

Required Documents

Loan Application Form for SE/ME.
Photocopy of the Computerized National Identity Card of Borrowers / Partners / Directors
Latest financials (preferably last 03 years)
Bank Statement
Copy of NTN Certificate
Copy of Partnership Deed / Register Partnership Deed.
Certificate of Incorporation
Memorandum and Articles of Association/ Form 29/Form A
Latest Financial Statements / In house Financials (Last 3 Years)
Any other document as per bank requirement

How to Apply

To view the flyer of LC - Sight Import Program – SME, please click here
To view the instruction guide for Applying SME Financing, please click here
To view Frequently Asked Questions related to LC -Sight (Import Program), please click here

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No documents available.