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The Bank of Punjab launched a pioneer financing product

The Bank of Punjab launched a pioneer financing product named “BOP Solar”. It is a financing scheme to help make alternate energy solutions affordable so that people can combat the energy crisis. Customers will have the option to go for standardized solar solutions or customize the product according to their individual requirements. The designing, customization and installation of the solar systems will be done by the authorized vendors of BOP. These authorized vendors have been selected through a transparent process which included due diligence on their financial and technical capabilities. Currently the list includes six vendors. This list will be expanded as more vendors are approved by BOP.

BOP Solar will be available in all the major cities of the country. Financing up to RS 5 million will be provided based on the need of the customer. The repayment can be made from 1-7 years. This is a pioneer product and it is expected to be a trendsetter for the industry. This product is also expected to give a boost to the solar industry in Pakistan by making it more affordable for the consumer.

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