Lahore: According to a recent news report, HBL’s Islamic banking arm and Akhuwat have signed a Memorandum of Understanding (MoU) to roll out a program that will provide Shariah-compliant housing finance facilities to applicants identified by Akhuwat. The MoU was signed in Lahore by Akhuwat Founder Dr. Amjad Saqib and HBL Islamic Banking Head Muhammad Afaq Khan.
Via this agreement, Akhuwat will not only recommend people but will also supervise the building of homes for those who are chosen.
Via interest-free microfinance, entrepreneurship opportunity, capacity building, and social advice, Akhuwat has a proven track record of reducing poverty and empowering socially and economically disadvantaged families.
HBL is Pakistan’s first bank to partner with Akhuwat, which has a sizable client base and a network that allows it to reach out to people all over the country. The Government of Pakistan’s (GoP) vision of providing affordable housing units to underserved segments of society through the Naya Pakistan Housing and Development Authority is reflected in this programme, which will improve the lives of millions of Pakistanis (NAPHDA).
NAPHDA is a special body formed by the Government and is the biggest government-backed housing program ever attempted.
For more details, visit our website Property News.