KARACHI: A Memorandum of Understanding (MoU) was signed between Faysal Bank Limited and National Clearing Company of Pakistan Limited (NCCPL), a capital market infrastructure institution of Pakistan. The Pakistan Mortgage Refinance Company (PMRC) collaborated on the said initiative. Mudassir H. Khan, MD & CEO, PMRC was the Chief Guest at the occasion.

Under the agreement, NCCPL employees will be able to apply for Faysal Bank’s Home Finance facility at exclusive fixed rates for the first 5 years of the financing tenor.

Expressing his views on this partnership, Muhammad Lukman, CEO NCCPL said, “While housing is the basic right of every human being, it is rapidly becoming a commodity for most with the increasing housing costs. Coming together with Faysal Bank, we have made an effort to make this commodity a reality for our employees where they can easily obtain Faysal Bank’s home finance service at affordable rates.”

Tahir Yaqoob Bhatti, Head Retail Banking Faysal Bank, also added, “This agreement with NCCPL has brought us another step closer in our mission in making housing affordable for all. PMRC’s efforts are also commendable in supporting this alliance. We hope to assist all our clients in their financing needs by bringing innovation and more value to our services.”—PR

Copyright Business Recorder, 2021