PRIME MINISTER’S KAMYAB JAWAN
In order to uplift the youth of the country by offering opportunities to utilize their entrepreneurial potential to the fullest, Government of Pakistan & SBP, Al Baraka Bank (Pakistan) Limited offers concessional financing popularly known as "Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES).
PRIME MINISTER’S KAMYAB JAWANYouth Entrepreneurship Scheme (PMKJ-YES)
In line with initiative of Govt. of Pakistan & SBP, AlBaraka Bank (Pakistan) Ltd offers concessional financing popularly known as "Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES) to uplift youth of the country through providing opportunities to utilize their entrepreneurial potential.
|Eligible Customers||- All citizen of Pakistan holding CNIC, aged between 21 & 45 years at the time of submission of application. For IT/E-Commerce related businesses, lower age limit is be 18 years, holding atleast minimum Matric or equivalent educations. In case of partnership/companies, only one of the owners, partners or directors must be in the prescribed age bracket.|
|How to Apply||- Applications can be filed ONLINE by visiting www.kamyabjawan.gov.pk Only one application can be uploaded against one CNIC.|
|Type of Businesses||- Small & Medium Enterprises as per definitions of SBP (Startups and existing businesses).|
|Purpose of Financing||- Setting up New Business.
- Expansion of existing businesses.
|Mode of Financing||- Any Sharia compliant mode of financing applicable to particular customer. Preferred mode of financing is Diminishing Musharika (DM)|
|Maximum Financing Limit||- Tier 1 (T1) Rs.100,000 to Rs.1 million
- Tier 2 (T2) Above Rs.1 million and up to Rs.10 million
- Tier 3 (T3) Above Rs.10 million and up to Rs.25 million
|Tenor of Financing||- Up to 8 years with maximum grace period of up to one year|
|Equity||- For New Businesses (T1-10%, T2 & T3 – 20%)
- For Existing Businesses - NIL
|Sectors||- All sectors including agriculture.|
|Repayment of Finance||- Through equal monthly or quarterly installments.|
|General Terms & Conditions||- Knowledge/experience of chosen business is must.
- Applied finance should be supported by rational business plans/projections.
- Application must not be availing financing facility under PMKJ-YES or any other similar scheme from any bank/FI.
- Clean ECIB for individual/proprietor/sponsors/directors/partners.
The applicant must have scanned copies of the following documents, whichever relevant, before starting their application:
- 1. Clear visible recent picture.
- 2. CNIC- front & back.
- 3. Educational/Technical degree/certificate (upload highest degree/certificate).
- 4. Experience Certificates, preferably all.
- 5. Valid license, if applicable e.g. for commercial vehicle, medical store etc.
- 6. NTN and latest Tax return, preferable to get NTN before application submission.
- 7. Reference/Consumer Number of Electricity connection installed at residential address.
- 8. Financials/Business Feasibility/Estimates of actual/Expected business revenues and expenses.
- 9. A brief business write-up.
- 10. Any other source of income e.g. foreign remittance, salary income, agriculture income etc.
- 11. Two References (CNICs).
- 12. In case of partnership or limited company, related details and approvals.
- 13. Bank Account Statement & Account Maintenance Certificate.