PMRC signs credit guarantee agreement with six more banks ...palestine

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PMRC signs credit guarantee agreement with six more banks
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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. The Credit Guarantee Trust will provide risk coverage of up to 40% to primary mortgage financiers — the banks — on a first-loss basis in an effort to

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