Pakistan Mortgage Refinance Company (PRMC) has released Rs 3.1 billion for the promotion of housing finance in Akstan.
PRMC and partner financial institutions have issued private sukuk worth Rs 3.1 billion to stabilize the house financing market in Pakistan. The sukuk is led by Pak-Kuwait Investment Company and Bank of Punjab. HBL (Islamic Banking) includes Bank Islami, PKIC and Karandaz Pakistan.
Meezan Bank developed this unique Sukuk in consultation with PMRC’s Shariah Advisor Mufti Ehsan Waqar and the PMRC’s team. Will be issued for 3 years.
Sukuk will play a key role in providing affordable housing to middle-income people in Pakistan.
