A convenient and flexible form of short-term financing to meet your working capital needs and the routine operating expenses and overheads of your company. The overdraft is a part of the current account, which can be overdrawn to your sanctioned limit.
We offer following working capital finance facilities:
Running Finance
Running Finance is a credit facility established for a specific period of time at fluctuating rates of Markup whereby the customer is allowed to overdraw his current account upto an agreed amount.
Cash Finance
This facility is almost identical to the running finance with the exception that the limit is secured against pledged goods which are essentially in possession of the Bank and/ or its Agents/ Muccaddams.
Term Finance
It is required that all Credit Facilities approved for periods over one year with a fixed repayment schedule are defined as Term Credit Facilities. This facility is similar to that of a Demand Finance except that the loan is repayable in installments in accordance with the agreed repayment schedule.
Trade Finance Related Facilities:
Finance Against Packing Credit
Packing Credits are pre-shipment advances granted to exporters for the specific purpose of covering the cost of raw materials, manufacturing, packing and shipment of relative goods.
In an endeavor to encourage exports, both pre-shipment and post-shipment export finance in respect of certain eligible commodities are excluded from the restrictions of clean per party/group limits and bank may provide facilities against pre/post-shipment exports at agreed rate of return as guided by State Bank of Pakistan .
Finance Against Foreign Bills
This is a post shipment advance granted to exporting customers upon presentation of shipping documents against acceptance of the usance draft by the drawee/ purchaser.
Import Letter of Credit
A service wherby customrs are facilitated to import the goods against bank's undertaking.
Inland Letter of Credit
These LCs exclusively cater to finance domestic trade within the country and may be opened either at Sight(DP basis) or at Usance(DA basis).
Finance Against Imported Merchandise
FIM facility will be granted only against pledge of goods imported through letters of credit established through us, on mark-up basis for short term only . The facility may be repaid within the validity period either in part of in lump sum.
Finance Against Trust Receipt This facility is related to import transactions and should be granted only as a sub-limit of sight LC line.
