Islamic Refinance Facility for Modernization of SMEs (IRFMS)
Bank Alfalah Islamic offers the Islamic Refinance Facility for Modernization of SMEs (IRFMS), a State Bank of Pakistan initiative designed to support SME customers with Shariah-compliant financing at concessionary rates. This facility enables SMEs to purchase new imported or locally manufactured plant & machinery for Balancing, Modernization & Replacement (BMR) of existing units, as well as to set up new units. Financing is also available for the import or local purchase of new generators.
Eligibility Criteria:
- SME customers as defined in SBP’s Prudential Regulations.
- Financing available for import/local purchase of plant & machinery for BMR and new unit setup.
- Financing for new generators up to 500 kVA capacity.
- For imported machinery, financing is available against Letters of Credit (LCs).
- Financing covers C&F value of imported machinery or ex-factory/showroom price of locally manufactured machinery.
Features:
- Type of Financing: Long-term financing for establishment and modernization of SME units.
- Pricing / Return: Maximum end-user rate 6% for all eligible sectors.
- Maximum Financing Limit: As per SBP definition of SMEs.
- Tenure: Up to 10 years with 6 months grace period.
Why Choose IRFMS with Bank Alfalah Islamic?
- Shariah-compliant financing for SME growth and modernization.
- Competitive concessionary rates to support sustainable business expansion.
- Flexible long-term financing with grace period for smoother cash flow management.
- Dedicated guidance for seamless financing and project execution.
For more details, visit your nearest Bank Alfalah Islamic branch or call 021 111225111.