Lahore: Pakistan Banks Association (PBA) Chief executive officer (CEO) Tawfiq Husain on Tuesday (October 26) announced a strategic partnership with leading financial services and technology businesses to extend housing loans to low-income households, news sources reported.
As per the reports, the PBA has allied with the Credit info Group, Tasdeeq, Pakistan Credit Rating Agency (Pacra) and Analytics. Reportedly, the alliance will be managed by the PBA Technology Working Group, comprising CEOs and members of Bank Alfalah, HBL and Faysal Bank as well as the CEO of PBA and a senior official of State Bank of Pakistan Under the new agreement, the major market lenders will extend credit on modest terms to low-income people who have been previously excluded from the market.
According to Credit info Regional Director Samuel White, the organisation will give technical help and training to member banks to improve loan availability and distribution. Tasdeeq Group Chief Operating Officer (COO) Omar Khalid said that their company will help banks in the development of better estimation models and scoring methods to better manage the credit facilities for as many people as feasible.
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.
