DIB Pakistan has signed a PKR 6 billion Musharakah financing facility with Pakistan Mortgage Refinance Company Limited (PMRC) to expand access to affordable Islamic housing finance and supporting sustainable homeownership across Pakistan.
The initiative aligns with the Government of Pakistan’s vision to address the country’s housing shortage while fostering financial inclusion through Islamic banking.
Speaking on the occasion, Muhammad Ali Gulfaraz, Chief Executive Officer, DIB Pakistan, said, “DIB Pakistan remains committed to providing innovative, customer-centric, financial solutions that create lasting value for our communities. Our collaboration with PMRC represents an important step in strengthening our housing finance portfolio and expanding access to affordable home financing.”
Commenting on the partnership, Raheel Qamar Ahmad, CEO PMRC, said, “PMRC mission is to expand Pakistan’s housing finance market, by providing long-term liquidity to financial institutions. Our collaboration with DIB Pakistan is promising for a larger number of Pakistanis looking for affordable, Shariah compliant housing finance. We look forward to increased home ownership.” The signing ceremony was attended by senior representatives from both organizations.