FORM OF THE AGREEMENT TO BE SUBMITTED BY THE PRINCIPAL / HEAD OFFICE OF THE ISLAMIC BANK (TO BE STAMPED AS AN AGREEMENT IN ACCORDANCE WITH THE LAW IN FORCE IN EACH PROVINCEIslamic Export Refinance Agreement • September 2nd, 2010
WHEREAS, at our request the State Bank of Pakistan (the “SBP”) has agreed to make available to us, under Section 17 (6B) of SBP Act 1956, Islamic Export Refinance Scheme for Financing Exports by Islamic banks, pursuant to its BPD circular no dated as may be amended from time to time (the Scheme) on the basis of participation in the profit and loss of the Musharaka Pool ( referred to hereinafter as the Pool) of our financing business which comprising our customers availing of export finance as also for other purposes under Islamic modes of financing as approved by our Shariah Board ( referred to hereinafter as Board),
