The Scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.

ADMINISTRATOR OF THE SCHEME National Bank of Pakistan

ELIGIBILITY

Under the scheme the students are eligible to apply for loans provided:
He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector mentioned hereunder.
He/She falls at the time of admission within the age bracket of:-


For Graduation Not exceeding 21 Years
For Post-Graduation Not exceeding 31 Years
For Ph.D Not exceeding 36 Years

He/She has secured 70% marks in the last public examination.
He/She has undertaken the study of the subjects given below.
He/She is unable to pursue studies due to financial constraints.

TYPES OF LOAN

The loan facility will be available for entire duration of the study for:-
Schedule Fee
Paid directly to the
University/College
Boarding expenses excluding meal charges
Procurement of textbooks--- Disbursed directly to the student

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1. Under the MURABAHA FACILITY, the Bank will first purchase the required goods directly or through an Agent. All costs incurred on such purchases will be borne by the Bank.
2. Subsequently the Bank will sell the goods to the customer on deferred payment basis (30 days to one year) at an agreed price comprising cost of goods purchased and Bank's profit.
3. On due date the customer will pay to the Bank the agreed price, in lump sum or as per the agreed installment schedule.

Ijarah (Leasing)

Ijarah means “to give something on rent”.The term “IJARAH’ is analogous to the English term “leasing“.

Firstly the Bank will purchase the Assets as required by the Customer and subsequently the assets will be leased to the Customer on the terms and conditions as agreed with him.

Ijarah Facility will be offered for the following assets: