Lahore: The Bank of Punjab (BOP) and Akhuwat Islamic Microfinance (AIM) have signed a memorandum of understanding (MoU) to promote low-cost housing under the Government Markup Subsidy Scheme (G-MSS), according to a press release shared in national dailies on May 3.
The MoU signing ceremony was held at the BOP head office in Gulberg, and the contract was signed by BOP President Zafar Masud and AIM Executive Director Dr. Muhammad Amjad Saqib. BOP Group Head Retail and Priority Sectors-Lending Representative Asif Raza, AIM Director Dr. Kamran Shams, and AIM Chief Credit Officer Shahzad Akram were also present on the occasion.
Speaking at the ceremony, BOP President Masud said that the G-MSS (also known as Mera Pakistan, Mera Ghar Housing Finance Scheme) was a revolutionary step in the housing industry and that it would help the bank extend financial support at the grass root level.
AIM Executive Director Dr. Ali also took the opportunity to express his hope that like all the other government-subsidized schemes, BOP would take the lead in this noble cause. He further commended Prime Minister Imran Khan for introducing the low-cost housing project for the middle and lower middle income segments in Pakistan.
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