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
LAHORE – The Lahore Chamber of Commerce and Industry (LCCI) on Sunday announced an emergency…
RIYADH – Outstanding loans from Saudi banks climbed to SR3.2 trillion ($849.7 billion) in June,…
ISLAMABAD: The Capital Development Authority (CDA) has opened bids for the Rs1.4 billion T-Chowk Flyover,…
SALALAH: Oman’s Ministry of Housing and Urban Planning has announced plans for Future Salalah City,…
Gwadar: The federal government has approved the construction of Gwadar Eastbay Expressway Phase II, linking…
The federal government has announced the abolition of Right of Way (RoW) charges on federal…
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.
