Staff Reporter Islamabad
Bank of Punjab (BOP) and Federal Government Employees Housing Authority (FGEHA) signed a Memorandum of Understanding (MoU) in a ceremony held at Ministry of Housing & Works, Islamabad. This MoU will go a long way in providing affordable housing to the employees of federal government and BOP will be a key player in materializing this vision.
Dr. Imran Zaib Federal Secretary Ministry of Housing & Works, presided the ceremony. The MoU was signed by Mr. Zafar Masud (President & CEO – The Bank of Punjab) and Mr. Waseem Hayat Bajwa (DG FGEHA). Amongst the attendees were Mr. Asif Riaz (Group Head Retail Lending – BOP) and Mr. Tahir Naeem Akhtar (Director Finance – FGEHA).
This is another landmark agreement, which shows Bank of Punjab’s significant commitment to housing sector in Pakistan. BOP has also arranged back-to-back funding from Pakistan Mortgage Refinance Company to provide housing finance.
Bank of Punjab has extended special mark-up rates to FGEHA apart from low-cost housing scheme. Additionally, BOP has also offered the authority to make a special booth to facilitate federal employees in smooth execution of financing facility by providing one window solution.
