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Pakistan

Banks train staffers for house financing for low income group: Sima Kamil

  • The instruction has been given to banks to resolve the cases of house financing customers within a month, Sima Kamil stated.
13 Oct 2020

ISLAMABAD: Deputy Governor State Bank of Pakistan, Sima Kamil on Tuesday said that banks have started training of the staffers for house financing for low income group.

The people could avail the opportunity to purchase a house on easy installments by using product of house financing of banks, she stated while talking to a private television channel program.

The Prime Minister, was holding meeting twice in a week for discussing house financing for people drawing meager salary and having no shelter in Pakistan.

The Islamic Banking products would be introduced through banks so that people could enjoy soft loan to build a house or purchase house on easy installments.

The instruction has been given to banks to resolve the cases of house financing customers within a month, she stated.

Mortgage system was a common practice in many countries, she added.

To a question, the deputy governor SBP said that there are few conditions for applying house financing in Pakistan.

She said that government has taken the initiatives to facilitate the low income groups for purchasing house on easy installments.