Lahore: Recently Mr. Fahad Siddiqui, Head of Consumer & SME Lending – JS Bank in an interview with the lead Journalist and Anchor Person Mudasser Iqbal, announced that JS Bank is the market leader in conventional housing finance and has successfully disbursed PKR 1.4 billion in 2021 in housing finance under the Government markup subsidy scheme Mera Pakistan Mera Ghar and superseded the SBP mandated target for the year.
During the interview, Fahad mentioned that JS Bank is the market leader in conventional housing finance and appreciated the initiative taken by the Government & state Bank of Pakistan so that people can become proud owners of their dream house.
He discussed that housing finance in Pakistan is negligent at the moment and makes up to only 0.3% of the national gross domestic product (GDP) – which is the lowest as compared to the neighbouring countries but with this government initiative, self-employed, salaried, and informal income earner will also benefit and a maximum number of people will be able to have their own shelter for themselves and their families.
He also explained that the government of Pakistan and the State Bank of Pakistan have worked in close collaboration to streamline this loan procedure and lending parameter to better accommodate the market conditions. Furthermore, he revealed that with this scheme, people can get financing of up to 90% of the property value and opt to buy new or old houses or construct their own houses as per their needs.
He further mentioned that to facilitate overseas Pakistanis the bank has also collaborated with an international mortgage brokerage (with a special focus on the middle east region) to promote the availability of housing finance on easy and flexible terms thus making sure that every Pakistani living in Pakistan or abroad can fulfill their dream of owning a house in Pakistan.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
