SAFCO in collaboration with PMRC has launched a housing program to provide financial assistance for the construction, renovation and purchase of houses for low-income group people.
Link
https://onlineindus.com/english/SAFCO-plans-to-help-poor-people-to-built-their-homes/45506
Memorandum of Understanding (MoU) signed between Pakistan Mortgage Refinance Company (PMRC), Habib Bank Ltd (HBL), and Infrazamin Pakistan Ltd (IZP) for promoting Developer Finance.
PMRC in collaboration with Pakistan Microfinance Network (PMN) successfully conducted a three-day capacity building program for Microfinance Providers on Affordable Housing at Ramada Hotel, Lahore from 9th March 2022 to 11th March 2022.
Participants were trained on the principals of mortgage loan origination, underwriting, best mortgage finance practices, government initiative for housing finance and environment & social sustainability standards for mortgage finance.
Pakistan Mortgage Refinance Company (PMRC) one of the premier and fastest growing DFI in Pakistan issued its largest syndicated TFC worth PKR 5.0 billion.
The proceeds of the TFC will be utilized to refinance the housing and construction portfolios of eligible financial institutions. These TFC’s remain as a catalyst to drive the vision and objectives of PMRC to promote the housing finance market of Pakistan. Investors to the TFC included National Bank of Pakistan (NBP), Allied Bank Limited (ABL) and The Bank of Khyber (Bok). Pak Oman Investment Company (POIC) was appointed as the investment agent while Mohsin Tayyab Ali & Co. (MTC) acted as the transaction legal counsel.
A signing ceremony in this regard was organized at PMRC Head Office. The ceremony was attended by Mr. Arif Usmani, President & Chief Executive Officer (NBP), Mr. Mudassir H. Khan, MD/CEO (PMRC), Mr. Muhammad Ali Gulfaraz, Managing Director/CEO (BoK) and Mr. Rehmat Ali Hasnie, Chairman (PMRC) and SEVP & Group Chief, Corporate & Investment Banking Group (NBP).
Other key executives who attended the meeting included Mr. Owais Shahid, Chief CIBG (ABL), Mr. Farrukh Zaheer, Head of Treasury &FI (PMRC), Mr. Naved Nasim, GH Corporate Banking (ABL), Mr. Mohammad Faisal, EVP Treasury & Investment Banking Group (BoK) and Mr. Hasan Jamal, SVP & Advisor Investment Banking
As part of PMRC’s initiative for development of mortgage market, PMRC Business & Product team has successfully conducted virtual training session for capacity building of National Rural Support Program (NRSP) team on best mortgage lending practices, regulatory requirements and development of mortgage products. Moreover, role of PMRC, mode of operations and availability of PMRC funding for mortgage finance was also explained. Over 100 participants across Pakistan attended the training program.
PMRC participated in Asia Pacific Housing Forum (APHF) Innovation Awards 2021 under the category “Public Policies” with the initiative titled “Development of affordable low-income mortgage market”. More than 50 companies from Asia competed for the awards contest. PMRC got selected as the top four finalist of this contest.
Disclaimer: Matter is subject to change as required.
PMRC and U Microfinance Bank entered into a Strategic Alliance as they signed a Memorandum of Understanding to promote affordable and accessible housing finance in the country.
The signing ceremony was attended by several prominent personalities from both sides, with Mudassir H. Khan – CEO PMRC, and Kabeer Naqvi – CEO U Microfinance Bank as the key signatories.
Mr. Mudassir H. Khan, MD/CEO has participated in the Bank of Punjab Seminar on Housing & construction on Thursday, November 18, 2021.
HABIBMETRO Bank has successfully subscribed to a secured, unlisted and redeemable Privately Placed Term Finance Certificate (PPTFC) of Rs. 1.5 billion issued by Pakistan Mortgage Refinance Company Limited (PMRCL) for a tenure of five years, with Mohsin Tayebaly & Co. serving as the transaction legal counsel.
The TFC will contribute to the Government of Pakistan and State Bank of Pakistan’s vision and efforts for promoting the housing and construction sector in Pakistan aimed at stimulating economic growth.
A signing ceremony was held at HABIBMETRO Head Office, Karachi. PMRCL CEO/MD Muddasir H. Khan, HABIBMETRO President & CEO, Mohsin Ali Nathani, Head of Treasury & FI’s Farrukh Zaheer, Group Executive – Corporate and Transaction Banking, Khurram Shahzad Khan, Head of Business, Muhammad Shahzad Khan, Head Investment Banking, Hafiz Faraz Ali, Head Financial Institutions, Sehba Mansoor and other senior team members also attended the ceremony.
Commenting on this new partnership, PMRCL, Head of Treasury & FI’s, Farrukh Zaheer said “We are pleased to partner with Habib Metropolitan Bank for a secured privately placed Term Finance Certificate. We are delighted as this facility will further contribute towards housing finance market and is aimed at improving accessibility and affordability for the end borrowers”.
Pakistan Mortgage Refinance Company (PMRC) has entered into an agreement for deployment of loan and credit system with AutoSoft Dynamics (Pvt.) Limited. A contract signing ceremony was held on Thursday 16th September 2021 between the two companies at PMRC Head Office, in Karachi.
The project is aimed for faster and efficient credit appraisal & processing, transactions recording & monitoring, risk management, portfolio & collateral management of all credit exposures at PMRC.
Pakistan Mortgage Refinance Company 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 Pakistan first Mortgage Refinance facility 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 with the aim of improving affordability for end consumers particularly the low and middle income.
AutoSoft Dynamics is a one of the leading software solution providers specifically for the banking and financial services industry. AutoSoft offers a range of products, solutions and consulting services that cuts costs, respond rapidly to market needs, enhance customer service levels and mitigate implementation risks. AutoSoft has already provided financial solutions to many banks both within Pakistan and internationally.
