Working capital needs of farmers: SBP develops Sharia-compliant model product
The State Bank of Pakistan (SBP) has created a model product based on "Salam" to meet the production finance (working capital) needs of the country's farming community. The model product will simplify Islamic Banking Institutions (IBIs) in developing the access of agricultural Islamic financing to the farming community.
The product wrapes the Sharia related aspects as well as business cycle and financing requirements of farm/crop production activities and will offer farmers necessary flexibility to use the funds to meet farming input requirements.
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