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Overview – Islamic Export Refinance Scheme

The Islamic Export Refinance Scheme (IERS), introduced by the State Bank of Pakistan, offers Shariah-compliant short-term working capital financing to support the export of value-added goods. This facility is provided through Islamic Banks and Islamic Banking Branches (IBIs), under a Musharakah-based arrangement between SBP and participating IBIs.

Under this model, profits and losses of the Musharakah Pool are shared proportionally between SBP and the IBIs, ensuring compliance with Islamic financial principles.

  • ABL Islamic Banking Group (ABL-IBG) offers Pre-Shipment Export Finance – Part I and Part II under the scheme

  • Exporters (both direct and indirect) can access financing through Murabaha, Istisna, Musawamah, or other SBP-approved Islamic modes

  • SBP provides funding to ABL-IBG under Musharakah, while ABL-IBG forms a Musharakah pool that includes:

    • Export financing extended to Blue Chip companies

    • GOP Ijarah Sukuk holdings under Islamic finance compliance



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