HBL partners with InfraZamin and PMRC

"Memorandum of Understanding (MoU) signed between Pakistan Mortgage Refinance Company (PMRC), Habib Bank Ltd (HBL), and Infrazamin Pakistan Ltd (IZP) for promoting Developer Finance.

Karachi – On 15-03-2022, HBL, IZP & PMRC (“Institutions”) signed MoU at HBL head office on the framework to promote developer finance for increasing supply of low-cost housing units and overcoming the challenges of affordable housing. The purpose of this landmark MoU is to promote developer finance for increasing supply of low cost housing units and overcoming the challenges of affordable housing. The framework involves providing external credit enhancement by IZP in the form of guarantee to partially mitigate credit risk of the developers for HBL while PMRC would provide subsidized fixed rate financing facility to HBL for keeping the developer finance affordable.

The MoU was signed on behalf of HBL by Mr. Aamir Irshad, Head of Corporate, Commercial & Investment Banking, Ms. Maheen Rahman, CEO (IZP) and Mr. Mudassir H. Khan, MD/CEO (PMRC). The ceremony was attended by Mr. Usman Hameed, Head of Investment Banking (HBL), Ms. Mehvish Waliany, Chief Investment Officer (IZP) and Mr. Muhammad Shahzad Khan, Head of Business (PMRC) along with other senior officials of these Institutions."