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Credit Guarantee Trust Set up To Promote Low-cost Housing in Pakistan The trust is supported by State Bank of Pakistan (SBP) and funded by theWorld Bank. The Credit Guarantee Trust will provide risk coverage of up to 40 percent to primary mortgage financiers on first loss basis. The guarantee will partially alleviate the credit risk of primary mortgage financiers and provide a conducive environment for banks to finance housing for the low-income. Keeping in view the dynamics of the mortgage market and to facilitate market growth, the scheme has been designed for both conventional and Islamic banks In this regard, PMRC as trustee today signed a Master Guarantee Agreement with six leading Islamic and conventional banks including Meezan Bank, Habib Bank, BankIslami, Faysal Bank, JS Bank and Soneri Bank. ....
PMRC signs credit guarantee agreement with six more banks It will help banks reduce their risk exposure SAMAA | Bilal Hussain - Posted: Dec 28, 2020 | Last Updated: 3 months ago SAMAA | Bilal Hussain Posted: Dec 28, 2020 | Last Updated: 3 months ago The Pakistan Mortgage Refinance Company held a Master Guarantee Agreement signing ceremony with six more Pakistani banks for the recently introduced mark-up subsidy on low-cost housing schemes. These banks include Meezan Bank, Habib Bank, Bank Islami, Faysal Bank, JS Bank and Soneri Bank. The PMRC has this agreement with the Bank of Punjab too. The Government of Pakistan has set up a Credit Guarantee Trust, with the PMRC as its trustee. The trust has been set up with the support of State Bank of Pakistan and funded by the World Bank. ....