KARACHI (PR) - Tameer Microfinance Bank Limited (TMFB) announced the successful listing of its Term Finance Certificate (TFC) by the name of “Tameer Sarmaya Certificate (TSC)” on the Karachi Stock Exchange. Tameer Sarmaya Certificate is the first of its kind retail Micro Finance TFC to be launched in the Pakistan Market with a minimum investment ticket of PKR 5,000/- (Rupees Five Thousand only), with purchase of certificate in Multiples of PKR 5,000/- (Rupees Five Thousand) thereof. The TFC has been offered for a period of 1 Year (13 Months) at a rate of 12% and 2 years (24 Months) at a rate of 12.50%, with a monthly profit payment mechanism. The TFC aimed to raise PKR 1 billion (Rupees one Billion) and has been partially secured through the Microfinance Credit Guarantee Facility provided by the State Bank of Pakistan.
TFC 1 (1 Year) and TFC 2 (2 Years), has an issue of PKR 500 Million (Rupees Five Hundred Million) each respectively and has been assigned a Rating of “‘A”‘ by JCR-VIS, which denotes very high credit quality.
The Subscription of the fund was available through Bankers lead by SCB. Due to the overwhelming response from the market, the subscription for the fund has been closed within a record five days.