The Bank of Khyber and Department of Industries, Commerce & Technical Education, Government of Khyber Pakhtunkhwa signed an MoU related to Raast Islamic Banking Refinancing scheme for modernization and working capital for Small and Medium Enterprises (SMEs) in Peshawar.
BoK Managing Director & CEO Mr. Muhammad Ali Gulfaraz and Mr. Zulfiqar Ali Shah secretary Industries, Commerce & Technical Education Department signed the said MoU in presence of Mr. Taimur Saleem khan Jhagra,
The salient features of shariah compliant government supported subsidized refinance schemes are unique as applicable pricing for Modernization of SMEs is “zero per cent” per annum for first year and two per cent per annum for the remaining four years (for purchase of new local & imported machinery and generator up to 500 kva) while applicable pricing in working capital is “zero per cent” per annum for first year and two per cent per annum for maximum two more years.
Speaking on the occasion Mr.Taimur Saleem Khan Jhagra emphasized that the scheme is as per vision of our Honorable Prime Minister Imran Khan and is being done for uplift of SMEs in the province under the able leadership of respected Chief Minister KP Mehmood Khan.
Informative Article