Shahd Services Package (Financing Honey Production)
Shahd is a financial package to finance the activities of beekeeping, production and marketing of honey.
- Financing procedures are simple and fast.
- Simplified installments without interests.
- Farmers ensure constant income throughout the year by guaranteeing the production of high-quality honey in different seasons.
- Levels of revenue rise by increasing the number of hives to reach a good and feasible quantity, and increase the amount of honey produced by modern techniques.
- The profitability of beekeeper rises by not less than 30%.
- Expanding the beekeeping in Yemen in order to improve family livings and increase income.
- Bringing in new skills and techniques for modern beekeeping and contributing additional job opportunities.
Terms and Documents required to obtain the service:
- The customer should maintain an account with CACBank.
- Providing the original identity copy (a valid electronic card or passport).
- Fill in the application form by visiting any CAC Bank Branch or office.
- The customer should be able to bear at least (30%) of the projects value.
- The customer has the necessary technical and administrative expertise to manage the project, preferably customer has to have trainings by organizations or specialized entities or has sufficient experience in this field.
- The customer should not have failed in payment of any past debts to any other banking or financial entity.
- The entity that honey production will be sold to, must be a well-known entity, preferably one of CAC Bank's customers, or an entity that can guarantee the beekeeper.
- Contributing with the bank in preparing feasibility study for the project, and providing a price offer for the project.
- The ability to bring sufficient guarantees and the customer has the ownership document of the agriculture land.
- The Banking interest rates for Shahd finances are 6% for 6 months, 8% for 1 year and 13% for two years.
All or some of the following guarantees: (that cover the value of the granted finance to customer and also subject to the policies and decision of the Agricultural Credit Committee)
- A commercial guarantee from a merchant that have an account with CAC Bank.
- A guarantee from funds or entities that may nominate the farmer to have the finance. (or less if the guarantee is supplementary).
- Guarantee a deposit in the bank. (or less if the warranty is supplementary).
- Partial guarantee for those employees who receive their salaries through our bank not exceeding 50% of the net salary. (or less if the guarantee is supplementary).
- For short term finances reached to 2 years, gold mortgages must equal to 150% of the value of the finance as approved by the Agricultural Credit Committee. (or less if the guarantee is supplementary).
- A property located in a provinces’capital that covers at least 120% of the value of the required finance, (or less if the guarantee is supplementary).
It depends on applicant request; the finance is flexible and can be made in a traditional or Islamic way.
6% for 6 months, 8% for 1 year and 13% for two years.
If the customer presented all required guarantees, the finance will be preceded within only two weeks.
The bank's financing policy requires adopting modern beekeeping techniques and will not finance and traditional ones.
The supplier will not get any payment unless all required technical specifications are matching.
According to the feasibility study of the project, from 6 months to 2 years.
No, the applicant will cooperate with the bank to provide data for existing projects and sources of repayments (finance) and the bank will prepare the feasibility study.
At the nearest branch or office to customer.
(Application form according to the approved form - original personal identity - certificate of experience or training certificate or any certificate proving that customer is familiar with this field).