Bank Alfalah Islamic proudly participates in Phase 3 of the Prime Minister’s Youth Business and Agriculture Financing Scheme, an initiative by the Government of Pakistan to provide self-employment opportunities to unemployed youth across the country. Launched on 12-Dec-2022, this program builds on earlier phases, including the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES).
Eligibility:
- Citizens of Pakistan holding a valid CNIC.
- Applicants aged 21–45 years (individuals or any stakeholder in SMEs).
- For IT/E-Commerce businesses, applicants aged 18–45 years with at least matriculation education.
- Eligible businesses include startups and existing SMEs owned by youth.
Financing Structure:
The scheme offers working capital and long-term financing through Shariah-compliant modes: Musawamah, Istisna, and Diminishing Musharakah (DM). Financing may also cover machinery, equipment, and locally manufactured vehicles (one per customer; exceptions for food franchises).
|
Tier |
Limit Caps (PKR) | Pricing | Financing/Equity Participation |
| T1 | Up to 0.5M | 0% p.a | New Businesses: 90:10, Existing: Nil* |
| T2 | 0.5M – 1.5M | 5% p.a | New Businesses: 90:10, Existing: Nil |
| T3 | 1.5M – 7.5M | 7% p.a | New Businesses: 80:20, Existing: Nil |
*T1 applications processed/disbursed via Microfinance Banks/MFIs.
Financing Tenor:
- Up to 8 years with a maximum grace period of 1 year.
Security Requirements:
- T1 & T2: Personal guarantee only.
- T3: As per Bank Alfalah Islamic credit policy.
- Vehicles financed serve as collateral.
Gender Equality:
- 25% of financing allocated to women entrepreneurs.
Target Market:
- All business segments and sectors across Pakistan, including agriculture.
How to Apply:
Submit your application through the PMYB&ALS Online Portal at www.pmyp.gov.pk. Processing TAT: 45 days.
Empower your entrepreneurial journey with Bank Alfalah Islamic and leverage Shariah-compliant financing to grow your business sustainably.