Lahore: The Habib Bank Limited’s Islamic Banking branch and Akhuwat Islamic Microfinance have signed a Memorandum of Understanding (MoU) – under which a programme will be formulated to provide Shariah-compliant housing finance facilities to applicants identified by Akhuwat, according to a news source published on March 3.
The agreement was signed in Lahore by HBL Islamic Banking Head Muhammad Afaq Khan and Akhuwat Founder Dr Amjad Saqib. Through this MoU, Akhuwat will recommend applicants and oversee the construction of houses for these applicants.
Commenting on this strategic partnership, HBL President and Chief Executive Officer Muhammad Aurangzeb said that this agreement will help promote the bank’s financial inclusion agenda by helping finance sustainable, cost-effective housing units for underprivileged segments of the country.
‘We are looking forward to work with Akhuwat’s professional team and playing a role in the execution of the next phase of Pakistan’ economic development,’ he further stated.
HBL Islamic Banking Head Muhammad Afaq Khan stated that Pakistan faces a housing crisis. He assured that this agreement will help provide affordable housing for Pakistanis – regardless of their income capacity.
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.
