Karachi: State Bank of Pakistan (SBP) has issued a circular to all banks and Development Finance Institutions (DFIs) announcing a Mudarabah-based “Islamic Financing Facility for Low Cost Housing for Special Segments”. Widows, children of martyrs, special persons, transgenders and persons in terrorism affected areas can also benefit from this facility.
The State Bank has set the target amount for Islamic financing at Rs.2.7 billion and tenure of financing has been set at twelve and a half years. Further Mudarabah investment of SBP will be available for up to 100 percent of the amount financed to eligible customers.
This facility caters to Islamic Banking Institutions (IBIs) and Islamic DFIs; collectively referred as Participating Islamic Financial Institutions (PIFIs).
For news and updates keep on visiting Graana blog
The Water and Sanitation Agency (WASA) Lahore is set to initiate a landmark sewerage upgrade…
Islamabad: The federal government is likely to include the Tax Laws (Amendment) Bill, 2024 in…
Islamabad: The International Monetary Fund (IMF) Executive Board is set to convene on Friday, May…
Members of the National and Punjab Assemblies have lauded the provincial government’s plan to introduce…
ISLAMABAD: The Capital Development Authority (CDA) has recorded a historic development expenditure of Rs25 billion…
ISLAMABAD: The federal government is set to inaugurate the Islamabad Information Technology Park on August…
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.
