The State Bank of Pakistan’s Islamic Export Refinance Scheme a Shariah compliant mode of financing available for short-term working capital for exports of value-added goods available through Islamic banks/branches (IBIs). Financing is provided on Musharaka basis between SBP and IBI and Profit and Loss of Musharka Pool is shared between IBI & SBP.
Salient Features:
- ABL-IBG will provide Pre-Shipment Part I and Part II facilities to exporters (direct as well as indirect) under the scheme on Murabaha, Istisna, Musawamah or any other product duly approved by bank’s SB while SBP will provide funds to ABL-IBG on Musharakah basis.
- ABL-IBG will create a Musharakah pool consisting of financing to Blue Chip companies on Islamic modes and GOP Ijarah Sukuk.