AIRLINK 55.02 Decreased By ▼ -0.38 (-0.69%)
BOP 6.27 Increased By ▲ 0.22 (3.64%)
CNERGY 3.94 Decreased By ▼ -0.01 (-0.25%)
DFML 15.63 Decreased By ▼ -0.88 (-5.33%)
DGKC 65.52 Increased By ▲ 0.77 (1.19%)
FCCL 17.00 Decreased By ▼ -0.10 (-0.58%)
FFBL 24.35 Increased By ▲ 0.20 (0.83%)
FFL 8.99 Decreased By ▼ -0.16 (-1.75%)
GGL 9.52 Decreased By ▼ -0.08 (-0.83%)
HBL 110.00 Decreased By ▼ -0.67 (-0.61%)
HUBC 113.09 Increased By ▲ 2.09 (1.88%)
HUMNL 6.32 Decreased By ▼ -0.16 (-2.47%)
KEL 4.26 Decreased By ▼ -0.06 (-1.39%)
KOSM 3.11 Decreased By ▼ -0.04 (-1.27%)
MLCF 36.34 Increased By ▲ 0.29 (0.8%)
OGDC 113.01 Decreased By ▼ -3.01 (-2.59%)
PAEL 22.00 Decreased By ▼ -0.30 (-1.35%)
PIAA 11.10 Decreased By ▼ -0.02 (-0.18%)
PIBTL 5.49 Increased By ▲ 0.09 (1.67%)
PPL 102.39 Decreased By ▼ -2.37 (-2.26%)
PRL 25.18 Decreased By ▼ -0.30 (-1.18%)
PTC 9.48 Decreased By ▼ -0.11 (-1.15%)
SEARL 49.62 Increased By ▲ 3.25 (7.01%)
SNGP 63.02 Decreased By ▼ -0.23 (-0.36%)
SSGC 10.80 Decreased By ▼ -0.08 (-0.74%)
TELE 6.93 Increased By ▲ 0.13 (1.91%)
TPLP 11.55 Decreased By ▼ -0.07 (-0.6%)
TRG 67.64 Increased By ▲ 1.35 (2.04%)
UNITY 20.61 Increased By ▲ 1.31 (6.79%)
WTL 1.21 Decreased By ▼ -0.03 (-2.42%)
BR100 6,163 Decreased By -5.2 (-0.08%)
BR30 20,982 Increased By 16.7 (0.08%)
KSE100 60,464 Increased By 4.5 (0.01%)
KSE30 20,298 Decreased By -49.3 (-0.24%)
Business & Finance

PMRC issues Rs1bn Sukuk to promote housing finance

  • Shariah-compliant finance to have focus on low-cost housing
Published June 16, 2021

The Pakistan Mortgage Refinance Company (PMRC) has issued yet another privately-placed Sukuk of Rs1 billion for the promotion of housing finance in the country, Business Recorder has learnt.

The Sukuk has been closed in collaboration with HBL Islamic Banking, and will look to make Shariah-compliant housing finance more accessible and affordable to the public.

“The funds raised under this Sukuk are important for the promotion of the Islamic housing finance market. I am confident this will be beneficial in the growth of fixed-rate, low-cost housing for the end consumers,” said Mudassir H Khan, managing director and CEO PMRC, as he addressed the signing ceremony.

Muhammad Afaq, head of HBL Islamic Banking, said there would be special focus on low-cost housing initiatives.

While speaking to Business Recorder, Farrukh Zaheer, head of Treasury & FI at PMRC, said that PMRC has ambitious plans to raise Sukuks and TFCs in the future for the sole purpose of low-cost housing.

Earlier, PMRC issued a first-of-its-kind Sukuk of Rs3.1 billion at 8.25 percent for the promotion of housing finance in the country.

Comments

Comments are closed.