Prime Minister's
Youth Entrepreneurship Scheme (YES)
In line with Government
of Pakistan’s vision, Meezan Bank offers the Kamyab Jawan financing scheme for
youth entrepreneurs. Eligible persons can apply for the said financing only
through the Kamyab Jawan Portal: www.kamyabjawan.gov.pk.
Government of Pakistan,
recognizing the financial needs of youth entrepreneurs and SME business has
introduced the “Prime Minister’s Kamyab Jawan – Youth Entrepreneurial Scheme
(PMKJ – YES)”. This financing scheme will provide youth with affordable
financing for establishing new and strengthening existing SME businesses. As
per directives of Government of Pakistan, 25% of the financing will go to
female customers.
Eligibility Criteria
·
All citizens of Pakistan holding CNIC, aged between 21 and 45
years with entrepreneurial potential are eligible. For IT/E-Commerce related
businesses, the lower age limit will be 18 years.
·
Above age limit condition is applicable on individual and sole
proprietors. In case of all other forms of business including partnership and
companies, only one of the owners, partners or directors must be in the age
bracket prescribed above.
·
New & established SME businesses from all sectors (including
agriculture) can avail fresh financing.
Note: In
line with State Bank of Pakistan's regulatory requirement, negative history
(i.e. overdue/ late payment/ write-off/ waiver) of consumer/individual
customers will be reflected in eCIB reports for two years after settlement.
| Tier | Financing Amount (PKR) | Customer Profit Rate | Security | Minimum Equity or Down Payment* |
| Tier – I | 0.1M to 1M | 3% p.a. | Clean | 10% |
| Tier – II | Above 1M to 10M | 4% p.a. | Collateralized | 20% |
| Tier– III | Above 10M to 25M | 5% p.a. | Collateralized | 20% |
| *Mandatory only for new business. Down Payment applicable for Musawammah and Murabaha. | ||||
- Apply
through Government’s portal (Click Here)
- Choose
‘Meezan Bank’ while selecting the bank
- Meezan
Bank upon receiving the request will start initial screening of provided
information.
- The
Bank will evaluate the entrepreneurial potential based on its financing
policy and assessment criteria.
- Applicant
will be invited for interview and assessment on case-to-case basis.
- Verifications
will be conducted by the Bank for assessment and ongoing monitoring of the
financing’s utilization, through a robust independent verification
mechanism.
- Financing
will be approved/rejected as per profile of the customer and his/her
eligibility according to Government’s scheme & Bank’s financing
policy. Decision will be communicated to customer through SMS on provided
number.
- Financing
would be provided for purchase of Asset/Inventory to successful customers
as per the guidelines of Shariah.
