Bank Alfalah signs agreement with PMRC.

Karachi -- Pakistan Mortgage Refinance Company (PMRC) and its Partner Financial Institutions (PFIs) including Bank Alfalah joined hands to provide and promote affordable housing finance in the country by signing Credit Guarantee Agreements with Credit Guarantee Trusts for Low-Cost Housing, set up by the Government of Pakistan with PMRC as Trustee.

In the ceremony held at PMRC's office at FTC in Karachi Credit Guarantee Agreements were signed with NBP, UBL, Bank Alfalah Limited (BAFL) and Dubai Islamic Bank Pakistan Limited (DIBPL), which will allow them to avail risk cover for low-income housing finance.

Soneri Bank limited (SBL) also participated in the event to partner with PMRC to obtain Refinancing Facility to help them grow their housing portfolio.

These initiatives will allow the banks to partially alleviate the credit risk entailed and provide affordable mortgage facilities to the low-income, particularly those in the informal sector.

PFIs were represented by their Presidents...