Islamabad: Ministry of Railways and Akhuwat Islamic Microfinance on Monday (November 29) signed a Memorandum of Understanding (MoU) to provide interest-free loans to Pakistan Railways employees for construction of their homes, according to news sources.
The agreement was signed between Railways Minister Azam Khan Swati and Chairman of Akhuwat Islamic Microfinance Dr Amjad Saqib. As per the details, the microfinance institution – Akhuwat Islamic Microfinance – will provide loans to low-income employees for the construction of their homes.
Railways Minister Swati, while speaking at the ceremony, stated that interest-free loans will also be provided to employees for the education of their children. He added that loans for seven employees have been approved. The minister disclosed that the railways’ system was being updated and state-of-the-art systems for signalling and communications were being installed.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
