ISLAMABAD: Mobilink Microfinance Bank Limited (MMBL), Pakistan’s largest digital bank, and U Microfinance Bank Ltd. (U Bank), Pakistan’s fastest-growing microfinance bank, have entered into a strategic partnership for providing housing finance facility for their employees.

The MoU was signed between Ghazanfar Azzam, President and CEO MMBL, and Kabeer Naqvi, President and CEO U Microfinance Bank, at a ceremony held in Islamabad. Under this partnership, U Bank and MMBL employees can seek housing finance from each other. Eligible employees would have the opportunity to access affordable housing finance of up to Rs 3m to purchase a new house, flat, apartment, or plot for construction, as well as to construct a house on a pre-owned plot or add an extension to an existing housing unit.

Copyright Business Recorder, 2022