About Parwaaz Financial Services Limited
It is well-established within global impact finance community that private social enterprises, such as PFSL, can only achieve sustainable growth and social impact if they also offer financially attractive returns on the invested capital – only competitive and stable profitability will allow PFSL to lastingly attract private capital and tap commercial sources of external refinancing, both of which are indispensable to meet the significant demand in the growing Pakistani market.
Vision
Mission
About Parwaaz Financial Services Limited
Parwaaz Financial Services Limited (PFSL) offers a variety of financial products especially designed to cater the financial needs of Small and Medium Enterprises of Pakistan. These products are geared to provide easy access to running finance, cash finance to meet growth capital and revolving credit needs. PFSL will soon start offering invoice financing, bill discounting, short term loans, long term loans and leasing facilities matching with the financing needs of the SMEs. PFSL will also introduce sector based product programmes which will cater the diverse needs of the SMEs operating in that particular sector. Those facilities will be offered on the credit card scoring models.
Women-led businesses and green businesses will be among the priority sectors for PFSL.
More details with regards to products and eligibility criteria will be established soon.
What does PFSL offer?
PFSL will start offering all varieties of loans like short-term loans, long-term loans, running finance and cash finance. In the future and in line with the needs detected in the targeted value chains, other services like invoice discounting, investment finance and leasing will be added.
PFSL can take a broad range of collateral categories: from land and real estate traditionally favoured by banks, but unworkable for the vast majority of Pakistani SMEs; to machinery, business equipment, inventories, and to a lesser extent, receivables and invoices.
PFSL will have a special focus on providing access to finance for women-led businesses. Generally, the financial sector displays a bias against female borrowers. PFSL aims to fill this gap and enhance women’s economic participation.
Focus Area
PFSL has a number of Financing Programs in process that cater to critical segments of society that are typically overseen and underfinanced. PFSL recogozines the importance of these sectors to the overall health of the economy and as such has designed customized solutions for each such underrepresented segment.
Women Finance
PFSL’s Women Financing will be a business support initiative focusing on female entrepreneurs in Pakistan, inspired by the belief that excluding nearly half the population of a nation from contributing to the GDP will result in not only stagnation but regression in the national economy. Therefore, PFSL Women Financing will provide growth capital and business development support for the expansion of women led businesses, with the primary goals of job creation, increased economic activity, female empowerment and increased stake-holding in the GNP; all of which ultimately result in a louder and more impactful voice for women nationwide.
PFSL Women Financing will invest in businesses in a range of varying sectors including Services, Trading and Manufacturing, all linked by the common thread of entrepreneurial passion and empowerment. We also intend to provide training courses to Women Entrepreneurs focusing on business management, sector wise trainings and guidance on how to take their business online.
Basic Requirements:
1
The business should be owned and managed by a woman. Businesses where more than 50% shareholding is held by a woman and she has a direct role in the management of the business.
2
Women-led and managed business that have been operational for at least 3 years and are looking to scale-up. Operational history of less than 3 years may be considered on a case-to-case basis.
3
The business must have an NTN. The owner(s) should be a Pakistani national and have a CNIC.
Green Finance
Over the last decade, the financial sector has increasingly recognized the importance of green finance. Financial organizations are beginning to take action, including mainstreaming environmental factors across organizational strategy and governance and collating capital for loan origination.
PFSL recognizes the importance of mitigating the effects of Climate Change and thus helping to halt the negative effects it has on our nation’s ecosystems, economic and otherwise. We will provide funding options to help and encourage businesses curtail carbon emissions, as well as funding businesses that provide alternative sources of energy.
Sector Based Finance
Sector based financing will be financing provided to grouped sectors which include various types of interdependent businesses, such as the health sector (Hospitals, medical stores, laboratories), the educational sector (schools, universities, research labs), and other such essential sectors. The codependent nature of these businesses will allow PFSL to provide customized funding solutions at highly flexible rates that will add value to the working capital, inventory, supply chain, and distribution networking of each client as well as their codependents in their sector.
Cluster Based Finance
The Cluster-based approach to lending is aimed at providing a full-service approach to cater to the diverse needs of the SME sector. A Cluster is characterized by a large number of similar enterprises, substitutable goods, and services, selling to the same markets/buyers, with almost identical susceptibility to changes in economic variables. The Cluster-based approach requires a mix of Primary, Secondary, and Tertiary clients; products that address all three targets & systems that are able to support and drive these product portfolios. The portfolio of clusters will include sectors such as Sports, Surgical, Leather, Light-Engineering & Healthcare.
Company Information
| Status of Company | LSE | |||||||||
| Company registration number | CUIN- 0164892 | |||||||||
| Date and national tax number | 8645644 date 23-Dec-2020 | |||||||||
| Date/number of licenses issued to the company | License No. SC/NBFC-1/207/PFSL/2020 dated 22.06.2021 | |||||||||
| Address of registered office/head office and branch office | Registered Office: Ground Floor, Nawa-e-Waqt House, 4 Shahrah-Fatima Jinnah Lahore Head Office: Parwaaz Financial Services Limited 2nd Floor, Vogue Tower, Lahore |
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| Phone and fax numbers of head office, registered office and branch offices | ||||||||||
| Valid email address | info@parwaaz.com.pk | |||||||||
| Detail of subsidiaries/associated companies and their website links, if available | Parwaaz Financial Services Limited is a wholly owned subsidiary of Karandaaz Pakistan Website; https://karandaaz.com.pk | |||||||||
| Name of Auditor of the Company | A F Furguson and Co Chartered Accountants | |||||||||
| Name of Legal Advisor | Ali & Qazi (Advocates & Advisors) | |||||||||
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