Observer Report Karachi
Meezan Bank, the Best Bank in Pakistan has recently signed a Memorandum of Understanding with Chapal Builders & Developers, a renowned real estate development group in the country to offer Shariah-compliant housing finance solution to its customers.
Under this MoU, the Bank will provide up to 75% house financing based on Diminishing Musharakah for a maximum tenure of 25 years to the customers who intend to purchase villas in Chapal Uptown with an upfront of Rs. 1.5 million.
This strategic partnership will enable the Bank to access larger business volume while enabling both the parties to achieve clear economies of scale.
Meezan Bank is also providing house financing for Chapal Courtyard Apartments, another flagship residential project by the builder.
The signing ceremony took place at the launch of Chapal flagship residential project by the name of Chapal Uptown, strategically located on Sector No. 69, Scheme 45, Karachi.