Karachi: Dubai Islamic Bank (DIB) and Pakistan Mortgage Refinance Company (PMRC) have struck an agreement for providing fixed-rate concessional funds to boost home finance and meet the government’s Mera Pakistan, Mera Ghar (MPMG) initiative’s lending objectives, news sources reported. In this regard, PMRC would provide DIB with PKR 3 billion.
Reportedly, this sum will be used by the DIB to increase the flow of funding to the middle- and low-income groups. The majority of such bank loans will be made to low-income people for home financing. On the occasion, DIB President & Chief Executive Officer (CEO) Junaid Ahmed stated that the alliance will be beneficial to Pakistan’s housing industry and will increase building activities and allied industries. It is critical to recall that the government started the NPHP and MPMG programmes with the goal of providing 5 million units to low-income families.
The government has contracted with numerous home finance and mortgage providers to market their subsidised loan products for a tenure of up to 20 years.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
