DIB Pakistan Signs PKR 6 Billion Musharakah Facility with PMRC
KARACHI: DIB Pakistan has signed a PKR 6 billion Musharakah financing facility with Pakistan Mortgage Refinance Company Limited (PMRC) to expand access to affordable Shariah-compliant housing finance and promote sustainable homeownership across Pakistan.
The partnership is aimed at increasing the availability of Islamic housing finance while supporting the Government of Pakistan’s broader objective of addressing the country’s housing shortage and improving financial inclusion through Islamic banking.
Partnership to Boost Islamic Housing Finance
The financing agreement enables DIB Pakistan to strengthen its housing finance portfolio by leveraging long-term liquidity provided by PMRC. The collaboration is expected to make home financing more accessible and affordable for individuals seeking Shariah-compliant mortgage solutions.
By expanding the availability of Islamic home financing products, the initiative seeks to encourage greater homeownership while contributing to the growth of Pakistan’s housing finance market.
DIB Pakistan Reaffirms Commitment to Customers
Speaking at the signing ceremony, Muhammad Ali Gulfaraz, Chief Executive Officer of DIB Pakistan, said the partnership reflects the bank’s commitment to delivering innovative and customer-focused financial solutions.
“DIB Pakistan remains committed to providing innovative, customer-centric financial solutions that create lasting value for our communities. Our collaboration with PMRC represents an important step in strengthening our housing finance portfolio and expanding access to affordable home financing.”
He added that the agreement reinforces the bank’s focus on supporting sustainable growth in Pakistan’s Islamic banking sector.
PMRC to Provide Long-Term Liquidity
Commenting on the collaboration, Raheel Qamar Ahmad, Chief Executive Officer of PMRC, said the company continues to play a key role in expanding Pakistan’s housing finance market by providing long-term liquidity to financial institutions.
“PMRC’s mission is to expand Pakistan’s housing finance market by providing long-term liquidity to financial institutions. Our collaboration with DIB Pakistan is promising for a larger number of Pakistanis looking for affordable, Shariah-compliant housing finance. We look forward to increased home ownership.”
He noted that partnerships with financial institutions are essential to improving access to affordable housing finance across the country.
Supporting Sustainable Homeownership
The PKR 6 billion Musharakah facility is expected to help DIB Pakistan extend more Islamic home financing to eligible customers, supporting individuals and families seeking affordable homeownership opportunities.
The agreement also aligns with ongoing efforts to strengthen Pakistan’s Islamic finance ecosystem and promote sustainable economic development through increased access to housing finance.
The signing ceremony was attended by senior representatives from both DIB Pakistan and PMRC, underscoring the strategic importance of the collaboration for the country’s housing finance sector.
Strengthening Pakistan’s Housing Finance Market
The partnership between DIB Pakistan and PMRC represents another step toward expanding the availability of Shariah-compliant housing finance in Pakistan. By combining long-term refinancing support with Islamic banking solutions, the initiative aims to improve financial inclusion, increase homeownership, and contribute to the development of a more sustainable housing finance market.