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Faysal Bank, NCCPL ink MoU

KARACHI-A memorandum of understanding (MoU) has been signed between Faysal Bank Limited and National Clearing Company of Pakistan Limited (NCCPL), a capital market infrastructure institution of Pakistan. The Pakistan Mortgage Refinance Company (PMRC) collaborated on the said initiative. Mudassir H. Khan, MD & CEO, PMRC, was the chief guest at the occasion. Under the agreement, NCCPL employees will be able to apply for Faysal Bank’s Home Finance facility at exclusive fixed rates for the first 5 years of the financing tenor. Expressing his views on this partnership, Muhammad Lukman, CEO NCCPL, said, “While housing is the basic right of every human being, it is rapidly becoming a commodity for most with the increasing housing costs. Coming together with Faysal Bank, we have made an effort to make this commodity a reality for our employees where they can easily obtain Faysal Bank’s home finance service at affordable rates.” Tahir Yaqoob Bhatti, Head Retail Banking Faysal Bank, also added, “This agreement with NCCPL has brought us another step closer in our mission in making housing affordable for all. PMRC’s efforts are also commendable in supporting this alliance. We hope to assist all our clients in their financing needs by bringing innovation and more value to our services.”

Mudassir H. Khan, MD & CEO, PMRC, expressing his views said: “Employer arrangements for employees play a vital role for this segment in availing Housing Finance. We are glad to be playing our role in developing the market and will continue to facilitate such arrangements. PMRC’s focus and efforts are for making Housing Finance affordable and accessible for all”.

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