Karachi: The State Bank of Pakistan (SBP) has announced its Islamic financing for low-cost housing in Pakistan. The circular has been issued to all banks.
As per circular, SBP is introducing a Mudarabah-based “Islamic Financing Facility for Low Cost Housing for Special Segments.” The targeted participation shall pertain to all banks, Islamic Banking Institutions (IBIs) and Islamic DFIs; collectively referred to as Participating Islamic Financial Institutions (PIFIs).
A target amount of 2.7 million has been set for the scheme which can lend benefit to widows, children of martyrs, transgender, special persons and person in areas that are severely affected by terrorism.
The Mudarabah investment will make itself accessible for up to 100 percent of the amount financed to eligible customers. The PIFIs may avail the facility by submitting their requests for allocation and SBP will evaluate the assignment of this facility as per their internal criteria.
The request of sanction of limits for the current fiscal year may be submitted within the 30 days of issuance of this circular.
For news and updates keep on visiting Graana blog
Lahore, known as Pakistan's cultural and historic heart, is home to numerous ancient sites, bustling…
Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…
Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…
Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…
ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…
Islamabad, Pakistan— IMARAT Group, a leading real estate developer and innovator in Pakistan, announces the…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
