State Bank of Pakistan Refinance Scheme for Payment of Wages & Salaries to support Workers and Employees of Business Concern

To minimize the economic disruptions caused by COVID-19 and to help business in payment of wages and salaries to their workers and employees; the state bank of pakistan (SBP) has introduced a Refinance Scheme that will support continued employment during these challenging times. The scheme is expected to ease cash flow constraints of the employers and thereby avoid layoffs. salient features of the scheme are as followed; 

Scope & Eligibility Criteria: 

• The Scheme shall finance payment of wages and salaries of permanent, contractual and daily wagers employees of existing as well as new customers of the Bank for the months ranging from April to september 2020. 
• Customers that have relationship with multiple banks may apply to a bank that manages their payroll. 
• Government Entities, Public Sector Enterprises, Autonomous Bodies and Financial Institutions are not eligible under this Scheme. 
• Subject to fulfillment of terms and conditions.  

To view conventional mode refinance scheme details CLICK HERE

To view Islamic mode refinance scheme details CLICK HERE