Foreign Exchange Facilities
Foreign exchange facilities related to financial resource provision for regular capital of project or working capital is awarded to applicants. Foreign exchange facilities mostly accommodates to applicants within the context of following terms and conditions:
Foreign exchange saving account:
- Bank awards foreign exchange facilities from foreign exchange saving fund to applicants of private section working on manufacturing, job making and different part of industries, mine transportation and technical and engineering service in Islamic contraction form.
The profit rate and commission of financial facilities will be calculated in 6 month periods. Overhauling industrial project which required for overhauling at least 50 percent of existing machinery and equipment will have 25% of discount in profit rate and commission. All under developed projects will have 50% of discount in profit rate and commission. Overhauling industrial project in underprivileged areas will award both type of discount.
- In case of using foreign exchange from foreign exchange saving account, the maximum time for performing project will be 3 years and maximum pay-back period will be 5 years so that total time of using and loan pay-back does not exceed more than 8 years.
- The applicant's primary capital was assigned as 25% of the whole investment of project and bank can provide at most 75% of the whole project cost.