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Pakistan Mortgage Refinance Company (PMRC) was set up as a Mortgage Liquidity Facility by the State Bank of Pakistan to address the long-term funding constraint in the banking sector, which was hindering the growth of the primary mortgage market. PMRC is serving as a secure source of long-term funding at attractive rates and at the same time ensuring sound lending habits amongst the primary mortgage lenders (PMLs). Its thrust is three-fold: help reduce maturity mismatch risk for PMLs, increase the availability of fixed rate mortgages and increase the maturity structure of the mortgage loans. This in turn would not only help improve the affordability of mortgages but also increase the number of qualifying borrowers. The issuance of bonds and sukuks is playing an integral role in the development of capital markets and housing finance. PMRC envisions further expansion of the primary mortgage market, which will consequently lead to the ultimate goal – a more widespread home ownership.
PMRC will play a key role in providing funding to both conventional and Islamic PMLs and it will endeavor to encourage and collaborate with PMLs to provide more housing loans in Pakistan.
As the Company’s principal source of funding will be from the local bond market; another important objective of the Company is to pioneer the development of the local bond and sukuk markets.
To be a leading catalyst for the development of housing finance and capital markets in Pakistan.
We act with integrity and professionalism and build trust by always making the right choice. Responsibility.
We are a responsible organization with a commitment to deliver. We strive for excellence and take full responsibility of our decisions and actions.
We continuously explore new approaches to business and open to opportunities that will create value for stakeholders.
In the pursuit of excellence in our delivery, we will continuously enhance the quality and performance of our service levels through collaboration, development and technology.
Respect and trust in the capabilities of our employees will be our driving force.
We foster the spirit of one-team through encouraging collaborative efforts to achieve common goal.